Causes For The Downturn In The Housing Market
The Impact of the B20 Stress Test on BC Home Sales
- Without the stress test, home sales in BC would have been about 7,500 sales—or 10% higher—in 2018
- Approximately $500 million in BC economic activity was lost due the B20 stress test
- The decline in home sales in 2018 was largely due to market factors like interest rates and affordability
The implementation of several federal and provincial housing policies designed to temper BC housing demand has given rise to competing explanations for what ultimately caused the downturn in the housing market. Was it the B20 mortgage stress test? Higher interest rates? The provincial speculation tax or the expansion of the foreign buyers’ tax?
For insight into the causes of the housing market slowdown – read BCREA Market Intelligence Report
Copyright© 2019 your HomeTeam ™. All rights reserved.
Website Design and Internet Marketing by Guaranteed SEO
- After sitting on the sidelines for roughly a year, many buyers are now jumping back into the #VancouverRealEstate m… https://t.co/KIfhL5xbtQ
- #NewListing – 417 KELLY ST, New Westminster – Estate Sale, excellent value. 5 bdr, 2554sf home $849,000. OPEN 1-3pm… https://t.co/By0yYnpMkS
- #NewListing – 3133 REGENT ST, Richmond – Lovely 5 bdr, 2400sf home in the heart of Steveston Village $1,648,000. OP… https://t.co/8LnFHeTlmm
- The number of sales transactions in Sept 2019 was 46.3% higher than Sept 2018, and continued to trend upwards on a… https://t.co/hOyDJ3Kinn
- Now #SOLD – 3555 Sunset Lane, West Vancouver *Best priced OCEAN VIEW house in West Vancouver. See more featured sal… https://t.co/51NtUVzvu2