Vancouver Area June 24 2016 (2 week update)
Current: Vancouver area Real Estate Market ranges from a Stable to a Sellers Market with a strong 21.0 %SOLD rate. See each city for the full details.
Forecast: May's Real Estate Statistics highlight ongoing major Foreign Investment continues to drive the Real Estate Engine in the Fraser Valley, but for the first time this year this year, we are seeing some slowing down from an almost feverish pace. While the Monthly Price increases are continuing, the tempo of those increases are declining. Bottom line; we seem to be experiencing some Buyer Exhaustion. Detached homes which increased an Average of $31,700 (down from the $43,880 in March). Both the Townhouse and Condominium Markets (58 of 58 Markets reporting) show stronger price increases in most areas, although still not to the same scale as Single Family Houses.
We have been working on and are now just releasing the Home Price Index for Hong Kong, Beijing and Shanghai from 2000. We now provide Comparative Investment Analysis for over 150 Market Areas through Greater Vancouver, seven Other Canadian Cities and many others around the World.
We forecast this surge of Off-shore Buyers and energized Local Buyers to continue at a strong albeit a more moderate pace for the next few months.
Fraser Valley & Chilliwack June 24 2016 (2 week update)
Current: Fraser Valley and the Chilliwack areas over all are in a Buyers/Stable Market averaging a 32.5 %SOLD rate. See each city link for the full details