March home sales and new listings set records in Metro Vancouver VANCOUVER, BC –…
OTTAWA – The Canada Mortgage and Housing Corp. has lowered the vulnerability rating of Vancouver’s housing market to “moderate,” marking the first change in three years as prices have eased.
The federal agency says in a report that “evidence of price acceleration” in Vancouver has eased to low, prompting a downrating after 12 consecutive quarters of being flagged as “highly vulnerable.”
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“While home price growth over the past few years significantly outpaced levels supported by fundamentals, these imbalances have narrowed through growth in fundamentals and lower home prices in different segments of the resale market,” CMHC said in its latest Housing Market Assessment report.