A Heated Year for Metro Vancouver Real Estate Draws to a Close
The Metro Vancouver housing market had its third highest selling year on record in 2016, behind only 2015 and 2005. Escalating prices caused by low supply and strong home buyer demand led to multiple government interventions into the market and during the last half of the year prices began to show modest declines. The MLS® Home Price Index (HPI) composite benchmark price for all residential properties in Metro Vancouver ends the year at $897,600. This represents a 2.2% decrease over the past six months and a 17.8% increase compared to December 2015.
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Downtown Vancouver 13-Month Market Trend
Community – Condo & Townhouse (Attached)
Media Data – Condo & Townhouse (Attached)
Photo by: vancitylookout