A new report from the BC Real Estate Association states home sales in Greater Victoria and across Vancouver Island will keep falling in 2019 while prices will rise slightly. Greater Victoria sales dropped significantly as well, by 20 per cent, to 6,770 last year. The number of properties sold across the province fell by 24.5 per cent last year for a total of 78,345 sales. “The negative shock to affordability and purchasing power created by the ... stress test on mortgage borrowers is expected to continue constraining housing demand in the province this year,” Cameron Muir, chief economist for the B.C. Real Estate Association, said in the first-quarter report.
Source: https://www.timescolonist.com/real-estate/real-estate-forecast-expect-fewer-sales-prices-to-inch-higher-1.23646899
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