VRD Wednesday, October 14, 2022
The summary
In the news, sales drop 50 per cent and homes prices are declining in some areas. Can we call it a bubble burst yet? Perhaps that depends on what the Bank of Canada does in the next few months. So, for now, real estate watchers are calling this a shift toward a ‘balanced market.’ BTW - one example of a year over year drop - Chilliwack. That’s where an average home price is now pegged at $649,000, down 19 per cent from the same time last year.
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