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In today's Vancouver Sun, the current housing market situation in British Columbia was aptly addressed by the president of the Real Estate Board of Greater Vancouver, Dave Watt. Click here to read the full article here. Since May, residential home prices have declined 12.8 per cent, resulting in an 8.3-per-cent year-to-date price reduction for detached, attached and apartment properties across Greater Vancouver. Further erosion in home prices can be expected over the next 18 months. The price correction may be viewed as a healthy market adjustment as the sharp run-up in home prices over the past 5 years had resulted in … (5 comments)
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