Conditions continue to vary significantly based on property type. The detached home market is well supplied with homes for sale, which is relieving pressure on prices. It remains a much differently story in the townhouse and apartment markets. Buyers of these properties continue to have limited supply to choose from and are seeing upward pressure on prices.
The growth in our provincial economy and job market is contributing to today's demand. The federal government's announcement of plans to tighten mortgage requirements for the seventh time in the past eight years also helped spur activity in the short term. Many buyers are trying to enter the market before the changes are in place.
For more in-depth information on October's market, please click below:
Greater Vancouver: REBGV October 2017 Stats Package
Fraser Valley: FVREB October 2017 Stats Package
Metro Vancouver: MVR October 2017 Stats Package
Metro Vancouver (簡體中文): MVR October 2017 Stats Package (簡體中文)