{"id":3820,"date":"2016-10-31T10:10:08","date_gmt":"2016-10-31T17:10:08","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=3820"},"modified":"2016-10-26T21:15:02","modified_gmt":"2016-10-27T04:15:02","slug":"cmhc-vancouver-home-sales-to-continue-to-slow-over-next-2-years","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2016\/10\/cmhc-vancouver-home-sales-to-continue-to-slow-over-next-2-years\/","title":{"rendered":"CMHC : Vancouver Home Sales to Continue to Slow Over Next 2 Years"},"content":{"rendered":"<p style=\"text-align: justify;\">The implementation of the provincial government\u2019s 15% foreign buyers tax is one of the reasons home sales will likely continue to slow in the Vancouver Census Metropolitan Area (CMA), according to a CMHC report released October 26, but sales over the period are expected to remain over the 10-year average.<\/p>\n<p>The CMHC forecasts that in 2016 overall, between 38,600 and 41,400 homes will change hands. This is down from 43,145 units sold in 2015 but remains well above the 10-year average of 33,000 units. In 2017, home sales will dip to between 33,500 and 36,300 units. In 2018, sales are expected to grow slightly, to a range of between 34,400 and 37,600 units.<\/p>\n<p>\u201cMLS sales this year are expected to slow after three consecutive years of double-digit gains,\u201d the CMHC said in its outlook.<\/p>\n<p>\u201cA potential increase in mortgage rates may also have a dampening effect on sales in the outlook, while positive underlying demographic and economic fundamentals are projected to support housing demand.\u201d<\/p>\n<p>These fundamentals include increases in employment and population.<\/p>\n<p style=\"text-align: justify;\">\u00a0\u00a0\u00a0\u00a0 <a href=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2016\/10\/Vancouver-home-sales-to-continue-to-slow-over-next-two.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-3821\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2016\/10\/Vancouver-home-sales-to-continue-to-slow-over-next-two-300x130.png\" alt=\"vancouver-home-sales-to-continue-to-slow-over-next-two\" width=\"558\" height=\"242\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2016\/10\/Vancouver-home-sales-to-continue-to-slow-over-next-two-300x130.png 300w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2016\/10\/Vancouver-home-sales-to-continue-to-slow-over-next-two-768x334.png 768w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2016\/10\/Vancouver-home-sales-to-continue-to-slow-over-next-two.png 907w\" sizes=\"auto, (max-width: 558px) 100vw, 558px\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">Prices are expected to increase over the next two years, despite slowing sales. In 2016, the average sale price will be between $957,400 and $1,056,600, up from $902,801 in 2015. In 2017, the range will grow to between $966,200 and $1,089,900, and in 2018, the average price will be between $1,006,900 and $1,161,100.<\/p>\n<p><a href=\"https:\/\/www.biv.com\/article\/2016\/10\/vancouver-home-sales-continue-slow-over-next-two-y\/\" target=\"_blank\">CMHC : Vancouver Home Sales to Continue to Slow Over Next 2 Years<\/a> by Emma Crawford Hampel | Business in Vancouver<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The implementation of the provincial government\u2019s 15% foreign buyers tax is one of the reasons home sales will likely continue to slow in the Vancouver Census Metropolitan Area (CMA), according &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2016\/10\/cmhc-vancouver-home-sales-to-continue-to-slow-over-next-2-years\/\">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-3820","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CMHC : Vancouver Home Sales to Continue to Slow Over Next 2 Years &#8226; 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