Saeed Farahani’s Blog
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Downward Pressure Looms Over Vancouver Home Prices
The Bank of Canada’s rate cuts have yet to significantly lift housing markets from their slump. Inventories have increased with more sellers entering the market, giving buyers more decision-making time.
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More listings, fewer buyers: Vancouver home sales drop
GVA reports an increase in available properties but a decline in sales, putting pressure on housing prices in Vancouver, the least affordable city in Canada. Home sales fell 3.8% year-over-year in September, with 1,852 transactions, marking a 26% drop from the 10-year average. New listings rose by 12.8%, leading to a total of 14,932 active…
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Mid-Q3 Vancouver Sales Down, Inventory Up
Despite two rate cuts, August sales ↓ 17.1% yearly in Greater Vancouver. Home prices held steady in August, with a benchmark of ~$1.2M, ↓ 0.9% monthly.
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Stable Vancouver Housing in H2: Sales to Rise 10%
Average sale prices are expected to rise by 3%, with sales increasing by 10% by the end of 2024. The Greater Vancouver housing market remains balanced, with potential shifts to a seller's market pending rate cuts.
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Vancouver Housing Recovery Post Rate Cut
The Bank of Canada’s predicted rate cuts could lower rates by 1.50% in 2025, boosting housing affordability and buyer interest.A significant change in Metro Vancouver's housing market is expected as interest rates may drop soon.
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High Land Costs In Vancouver Pushing Condo Projects Out To Suburbs
Canada Housing and Mortgage Corporation's bi-annual report reveals a 4% increase in housing starts across major cities in the first half of 2024, totaling 68,639 units. However, Metro Vancouver experienced a decline due to slow sales and high financing costs, with population-adjusted starts dropping from 58.0 to 45.6 per 10,000 population. The decrease was mainly…
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Vivid Vancouver: Colorful Signs Mark New Projects
Vancouver's new developments are marked by bright blue and yellow signs promoting high-rise projects. Current projects often feature high-rises in areas with existing low-rise buildings, raising resident concerns.
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Investors Drive Profitable Trends in Vancouver Housing
Greater Vancouver sees strong demand from investors and move-up buyers in H1, with 5K buyers ready to purchase.Limited inventory boosts detached home prices; over 70% of Greater Vancouver sees value increases.
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Premier Eby sees fresh Vancouver housing project as model for all B.C.
A new housing development in Vancouver aims to provide 2,600 units on Indigenous land, with the provincial government covering 40% of the financing costs, totaling $672 million. Eligible buyers will finance the remaining 60% through 99-year strata leaseholds from three First Nations. The initiative targets first-time home-buyers and aims to make housing more affordable, with…
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The Impact of Vancouver Empty Home Tax
The Canadian housing market faces a severe imbalance, with supply lagging behind surging demand. Vancouver’s vacant home tax increased housing availability but did not spur new constructions or lower rents.
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