{"id":10652,"date":"2018-10-26T10:10:11","date_gmt":"2018-10-26T17:10:11","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=10652"},"modified":"2018-10-17T15:00:16","modified_gmt":"2018-10-17T22:00:16","slug":"vancouver-home-values-double-down-on-prediction","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/10\/vancouver-home-values-double-down-on-prediction\/","title":{"rendered":"Vancouver Home Values Double Down on Prediction"},"content":{"rendered":"<p style=\"text-align: justify;\">An economist with one of Canada\u2019s biggest banks is doubling down on the prediction that Vancouver home values still have some steam left at a time when prices are down 2% in three months.<\/p>\n<p style=\"text-align: justify;\">\u201c[Vancouver\u2019s sales-to-new-listings ratio] suggests prices are going to go up at a steady kind of clip,\u201d Marc Desormeaux, a provincial economist at Scotiabank Economics, tells Livabl.<\/p>\n<p style=\"text-align: justify;\">The increases will amount to \u201cmodest near-term home price gains,\u201d Desormeaux previously stated in Scotiabank\u2019s latest Housing News Flash.<\/p>\n<p style=\"text-align: justify;\">In September, Greater Vancouver\u2019s sales-to-new listings ratio clocked in at 42%, on a seasonally adjusted basis. The ratio, though still in balanced territory, has not been that close to a seller\u2019s market since 2013.<\/p>\n<p style=\"text-align: justify;\">Generally, the Canadian Real Estate Association considers a sales-to-new listings ratio between 40% to 60% to reflect a balanced market. Ratios above that range suggest a seller\u2019s market, while ratios below that range indicate a buyer\u2019s market.<\/p>\n<p style=\"text-align: justify;\">However, Desormeaux says that \u201cdemand factors are quite strong\u201d in Vancouver and this should support further price gains.<\/p>\n<p style=\"text-align: justify;\">These factors include immigration levels, an economy that \u201cis performing relatively well,\u201d and job creation.<\/p>\n<p style=\"text-align: justify;\">\u201cAdd to that the fact that the market is under-supplied. We would expect prices to continue to rise despite some of the slowing that we\u2019ve seen of late,\u201d Desormeaux explains.<\/p>\n<p style=\"text-align: justify;\">Much has been said about the recent rebound of the housing market in the Greater Toronto Area, where detached-home prices were higher in Q2 this year than they were in the first quarter in 75% of neighbourhoods, RE\/MAX INTEGRA notes.<\/p>\n<p style=\"text-align: justify;\">The Scotiabank economist\u2019s views on the west-coast housing market are at odds with some others.<\/p>\n<p style=\"text-align: justify;\">Of late both Capital Economics and Central 1 have released reports in which the respective firms anticipate Vancouver home values have another 5% to decline before they hit bottom.<\/p>\n<p><a href=\"https:\/\/www.livabl.com\/2018\/10\/economist-prediction-home-price-gains-vancouver.html\" target=\"_blank\" rel=\"noopener\">Economist Doubles Down on Prediction for More Home Price Gains in Vancouver<\/a> by Josh Sherman | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An economist with one of Canada\u2019s biggest banks is doubling down on the prediction that Vancouver home values still have some steam left at a time when prices are down &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/10\/vancouver-home-values-double-down-on-prediction\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-10652","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Vancouver Home Values Double Down on Prediction &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2018\/10\/vancouver-home-values-double-down-on-prediction\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Vancouver Home Values Double Down on Prediction &#8226; 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