New Report: No Bust in Condo Market
Contrary to gloomy predictions, according to a new report by the mortgage insurance company Genworth Canada and the Conference Board of Canada, Vancouver’s condo market remains healthy. Citing market fundamentals such as first-time home buyers, aging downsizers, and city dwellers desiring shorter commutes, the report sees Vancouver as a buyers market in 2013 because of downward pressure on prices. Sales are expected to increase in 2014. You can learn more in this story from the CBC or, for a more critical review of the report, check out this article in the Vancouver Sun.