The volatility of recent in the overheated housing markets in Los Angeles, San Francisco, Toronto and Vancouver are making headlines but does anyone really know whether to get into the market or get out while they can. Fortunately the US housing stats look very good. The US economy is strong. Canada’s economy has weakened and Canadian politicians and banks are a tad nervous.
It’s not likely the bottom will fall out. Even with the tactics used by the BC provincial government with tax and foreign national harassment appears to have slowed sales in Vancouver in 2017 after a phenomenal run and pushed money eastward into Alberta. I had been calling for that to happen for a year now. That’s great that foreign buyers are picking cheap properties in Calgary and Edmonton. Those economies and the realtors in Alberta need that small boost.
Most of the demand has been for single detached homes in Vancouver and Toronto and not so much condominiums. Yet sales for Vancouver condos and Toronto condos has been good enough.
Visit my main blog and learn more about what’s happening in real estate right now from Los Angeles to Boston to Toronto. Realtors, give me a call if you’re ready to move ahead with your real estate marketing.