A forecast by Ozzie comes true with a 19% decline in Vancouver housing prices. The number of sales of single family dwellings is down tremendously and buyers are moving to different classes of dwellings
The BC market is still strong and is still attracting foreign buyers...including US buyers and multiple offers and bidding wars. Other hot markets in Canada are in the sights of government for more regulation and taxes.
Ozzie Jurock first covers the 2016 year end real estate numbers, the big story being Toronto up powerfully. Victoria, Vancouver and other cities in BC have seen sharp decreases in single family homes, though increases in condo sales.