As summer comes to an end, higher borrowing costs are starting to affect the Metro Vancouver housing market, with price gains cooling and sales slowing along the typical seasonal pattern.
"It’s been an interesting spring and summer market, to say the least. Borrowing costs are fluctuating around the highest levels we’ve seen in over 10 years, yet Metro Vancouver’s housing market bucked many pundits’ predictions of a major slowdown, instead posting relatively strong salesnumbers and year-to-date price gains north of 8%, regardless of home type."
-Andrew Lis, REBGV Director
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