Re/Max: Rising wealth, foreign investment drives demand for luxury homes; Metro Vancouver leading the way
Filed Under Main Content · Tagged: Business Investment, Canada Vancouver, Canadians, Foreign Investment, Homes Across Canada, Investment Homes, Leading The Way, Luxury Homes, Metro Vancouver
Demand for luxury homes across Canada – especially in Metro Vancouver – is rising, with the improved financial standing of wealthy Canadians the main factor, according to a report released Wednesday by Re/Max.
Improving economy, low mortgage rates to boost housing sales in B.C., CMHC says
Filed Under Main Content · Tagged: Canada Mortgage And Housing, Canada Mortgage And Housing Corp, Cmhc, Economy, Greater Vancouver, Housing Market, Housing Sales, Job Canada, Job Corp, Job Market, Low Mortgage, Lower Mainland, Market Analyst, Metro Vancouver, Migrants, Mortgage Market, Mortgage Rates, Population, Steady Flow, Vancouver Sun
Vancouver Sun- A new report suggests that low mortgage rates combined with a growing population and an improving economy bode well for Metro Vancouver home sales for the rest of 2010 and 2011.
“For the next year, we’re looking at favourable mortgage rates, a steady flow of migrants to the Lower Mainland, and a growing job market,” Canada Mortgage and Housing Corp. senior market analyst Robyn Adamache said in an interview about the federal agency’s housing market report that concluded sales will remain stable until mid-2011 before trending higher. “We’re looking at about 33,000 sales for Greater Vancouver [in 2011]. We’re looking at 31,000 this year. The 10-year average is about 34,000…
Improving economy, low mortgage rates to boost housing sales in B.C., CMHC says
Housing starts up in Metro Vancouver over bleak 2009
Filed Under Main Content · Tagged: Bleak, Canada Mortgage And Housing, Canada Mortgage And Housing Corp, Market Analyst, Metro Vancouver, Sharp, Vancouver Sun
The Vancouver Sun- Metro Vancouver has seen a sharp increase in housing starts this year, but the numbers are deceiving because 2009 was particularly bleak, according to Canada Mortgage and Housing Corp.
“We’ve seen some improvement, but it’s a modest improvement,” CMHC senior market analyst Robyn Adamache said in an interview Monday of the latest housing starts figures.
“Although the numbers look strong, you’re comparing them to last year, which was an unusually low number [of housing starts] year.”
According to CMHC, there were 1,447 housing starts in October in the Vancouver…
Housing starts up in Metro Vancouver over bleak 2009
Why I wouldn’t mind being a first-time buyer right now
Filed Under Main Content · Tagged: Confusion, Consumers, Estate Organizations, Favour, First Time Buyer, Homebuyers, Hst, Lotus, Lotus Land, Metro Vancouver, Property Ladder, Pundits, Purchase Decisions, Real Estate Market, Resale Homes, S Market, Summer Fling, Tactic, Vancouver Real Estate, Vancouver Sun
The Vancouver Sun- Real estate pundits are starting to announce -albeit somewhat apologetically, in some cases -that the Metro Vancouver real estate market is now leaning away from sellers in favour of buyers.
Hey, there’s nothing wrong with a buyer’s market. If market balance and sharper pricing allow more folks to climb on to the property ladder, bring it on. And history teaches us market conditions in Lotus Land-by-the-Sea can shift quickly. The buyer’s market might be short-lived, a summer fling.
I have also noticed that real estate organizations believe the HST has caused some confusion among homebuyers, perhaps stalling their purchase decisions. These organizations want consumers to know there is no HST on resale homes. Hmm, I wonder if this messaging, given the increase in listings, is aimed at steering buyers to resale homes. That tactic would be way too obvious, wouldn’t it?…
