Don't expect price drop any time soon, say experts
VANCOUVER (NEWS1130) - With interest rates at historical lows, a top real estate expert has a bullish outlook for our country's housing market.
Vancouver may be one of the most expensive cities to live in, but President of Coldwell Banker Canada John Geha says there are still some affordable homes out there if you do your research.
"It is a healthy market for the first-time buyer. I think with Finance Minister [Jim] Flaherty's decision to tighten credit, you just have to be prepared. You have to have the right council with your lawyer, your bank and your real estate professional and make some decisions. Are you going to save money? And what price range are you going to be buying in?"
In its latest report the CMHC says Canadian housing prices will move in line with inflation for the next two years.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.