News: Vancouver Real Estate Market

Metro home prices will slip, not plunge: Vancouver Sun

Metro Vancouver home prices may slip a bit over the next year, but don’t expect them to drop sharply, according to a
report released Wednesday by Central 1 Credit Union.

 

The report was released on the same day as a Scotiabank report with a more pessimistic outlook for prices, saying the
downside risks to Canada’s housing market are increasing with a correction concentrated in Toronto and Vancouver, and


that prices should fall 10 per cent over the next two or three years.

 

“Right now, we’re undeniably in a sales slowdown with substantial declines in sales over the past several months,” said report author and Central 1 economist Bryan Yu. “But we’ve also seen positive employment growth and continuing very low interest rates.

 

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