Metro Vancouver’s housing market has received a “moderate degree of vulnerability” rating, after three years of “high degree of vulnerability” ratings, from the Canada Mortgage and Housing Corp. (CMHC).
CMHC’s HMA examines urban real estate markets across Canada, assessing a combination of four key risk factors: overvaluation of house prices in comparison with levels that can be supported by economic fundamentals; overheating, when demand for homes in the region outpaces supply; sustained acceleration in house prices; and overbuilding, when the inventory of available homes exceeds demand.
In its quarterly Housing Market Assessment (HMA), issued August 1 and examining the market in 2019’s second quarter, the federal housing agency said that price acceleration had eased sufficiently to downgrade the Vancouver real estate market’s risk assessment.
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