Relevant:
- Vancouver Housing Market Implodes: Average Home Price Plunges 20% In 1 Month
- Toronto Housing Market May Need Vancouver-Style Cooling, RBC Says
- This Canadian Real Estate Region Is Going Completely Nuts Reason
- In sign of real-estate slowdown, Orlando home sales are down and listings are up
- October home sales hit 3-year high; prices up 17% year over year
2016-10-05 — wsj.com
...
The real estate board data on Tuesday also indicate that sales of detached homes fell at a faster rate in September than a year earlier when compared with other properties such as condominiums, which tend to be more affordable for entry-level buyers. "We're seeing more demand for condominiums and townhomes today than in the detached home market," real estate board president Dan Morrison said in a statement.
Despite the September decline in overall sales, prices for homes in the Vancouver area continued to rise. The average benchmark price for Vancouver-area homes was 931,900 Canadian dollars ($710,831) in September, up nearly 29% year-over-year, the real estate board said.
On Monday, the Canadian government announced additional steps to cool hot housing markets, including tighter mortgage insurance rules and a crackdown on exemptions from capital gains taxes for some properties.
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