As predicted, prices in the housing market are on the rise again. The tax on foreign investors was a temporary fix and didn't really work that well. Land is in limited supply and our market is strong. Schools, local ammenities, transit, lifestyle, all contribute to the rising prices.
The Canadian Real Estate Association says home sales last month hit a record high. The association says home sales over its Multiple Listings Service system increased by 1.1 per cent in March to top the previous monthly record set in April 2016. Sales were up on a month-over-month basis in more than half of the local markets measured, led by Greater Vancouver and the nearby Fraser Valley.
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