{"id":12928,"date":"2019-07-03T11:11:55","date_gmt":"2019-07-03T18:11:55","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=12928"},"modified":"2019-06-18T15:44:37","modified_gmt":"2019-06-18T22:44:37","slug":"homebuying-bidding-wars-not-decreasing-in-metro-vancouver","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/07\/homebuying-bidding-wars-not-decreasing-in-metro-vancouver\/","title":{"rendered":"Homebuying Bidding Wars Not Decreasing in Metro Vancouver"},"content":{"rendered":"

The Metro Vancouver real estate market may have slowed down over the past 18 months, but that doesn\u2019t mean the dreaded bidding war is dead.<\/p>\n

According to a survey released June 13 by the Canada Mortgage and Housing Corp. (CMHC), just as many people who bought a home in fall 2018 said they had entered a bidding war as those who purchased during the busy real estate market of 2017.<\/p>\n

Overall, 55% of Metro Vancouver homebuyers surveyed in 2018 said they were engaged in a bidding war, which is the same percentage as in the 2017 survey.<\/p>\n

However, it\u2019s worth noting that the survey doesn\u2019t include buyers who have purchased more recently, in the slow spring market of 2019.<\/p>\n

In 2018, 51% of Metro Vancouver homebuyers who purchased single-detached homes were engaged in a bidding war, and 58% of Metro Vancouver homebuyers who purchased a condominium were engaged in a bidding war, according to the 2018 results. These were the exact same results as in 2017.<\/p>\n

The survey also asked buyers about factors that they believe have influence on the housing market in their region, and the spectre of the foreign buyer remains in the forefront, despite rapidly falling foreign buyer numbers and the 2016-launched foreign buyer tax.<\/p>\n

In the new survey, 70% of Metro Vancouver homebuyers surveyed felt foreign investors had \u201ca lot of influence\u201d on house prices in the region, compared with 68% in 2017.
\n\"\"<\/a>
\nThese results showed the proportion of respondents who agreed that these factors had “a lot of influence in the housing market” in a survey by CMHC in fall 2018. Source : CMHC.<\/p>\n

Fewer than half (47%) said they felt land scarcity had a lot of influence on prices, down from 53% the previous year. And 46% felt population growth had a lot of influence on house prices in the region, down from 51% in 2017.<\/p>\n

CMHC : Homebuying Bidding Wars Not Decreasing in Metro Vancouver<\/a> by Joannah Connolly | Glacier Media Real Estate | Business in Vancouver<\/p>\n","protected":false},"excerpt":{"rendered":"

The Metro Vancouver real estate market may have slowed down over the past 18 months, but that doesn\u2019t mean the dreaded bidding war is dead. According to a survey released … [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":[13],"tags":[],"class_list":["post-12928","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"\nHomebuying Bidding Wars Not Decreasing in Metro Vancouver • 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\/2019\/07\/homebuying-bidding-wars-not-decreasing-in-metro-vancouver\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Homebuying Bidding Wars Not Decreasing in Metro Vancouver • Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"The Metro Vancouver real estate market may have slowed down over the past 18 months, but that doesn\u2019t mean the dreaded bidding war is dead. 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