Vancouver home sales tumble, Calgary's slide as rising rates and uncertainty take toll — via financialpost RealEstate Homesales
Vancouver and Calgary both saw declines in home sales as more buyers move to the sidelines and await a better opportunity to jump back into the market. This comes as the Bank of Canada hikes interest rates to combat inflation, including a supersizedThe number of homes exchanging hands in the Greater Vancouver Area tumbled nearly 23 per cent in July from the month before, with 1,887 unit sold.
The board’s benchmark price index, which compiles typical property prices in each market, sits at about $1.2 million, a two per cent decrease from June.Article content “Home buyers are exercising more caution in today’s market in response to rising interest rates and inflationary concerns,” REBGV chair Daniel John said in a press release accompanying the data. “This allowed the selection of homes for sale to increase and prices to edge down in the region over the last three months.”
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Vancouver home sales tumble, Calgary's slide as rising rates and uncertainty take tollVancouver home sales tumble, Calgary's slide as rising rates and uncertainty take toll StephHughes95
Read more »
Vancouver home sales tumble, Calgary's slide as rising rates and uncertainty take tollVancouver home sales tumble, Calgary's slide as rising rates and uncertainty take toll RealEstate Homesales
Read more »
Vancouver home sales tumble, Calgary's slide as rising rates and uncertainty take tollVancouver home sales tumble, Calgary's slide as rising rates and uncertainty take toll StephHughes95
Read more »
Vancouver home sales tumble, Calgary's slide as rising rates and uncertainty take tollVancouver home sales tumble, Calgary's slide as rising rates and uncertainty take toll — via financialpost RealEstate Homesales
Read more »
Calgary home sales down 3% in July as interest rates rise: real estate boardThe region’s sales for the month totalled 2,254, down from 2,314
Read more »
Vancouver home sales sink 22.8% in July as rate hikes bite - BNN BloombergHome sales tumbled in Vancouver last month, adding to evidence that interest rate hikes are pushing many would-be buyers to the sidelines.
Read more »