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Originally Posted by connect2source
Not seeing that at all in Vancouver, sales are way down because inventory is non-existent in condos hence far less transactions taking place, more like a 'stuck market'.
I can't speak for the burbs but condo prices downtown are up quite a bit so far this year, they're no inventory and most desirable suites are selling in multiple offers at records prices. The off-shore money is slowing coming back, the hangover from the PTT is fading a bit as well.
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Buyers in Vancouver follow the financial news, they're very savvy. The recent hike by the Fed will pause some buyers from purchasing.
Less inventory is because a lot of overseas buyers will buy and leave their houses vacant. I wonder what will the government do with the data once the 1% vacancy tax kicks in.