According to a new three-year forecast released by Central 1 Credit Union, things are on their way up in B.C- led primarily by an upstart of activity and higher prices in Metro Vancouver.
Tagged: Rising Interest Rates
Housing activity in the country is slowing down after a busy first half, especially in British Columbia, Alberta and Ontario where prices are expected to fall in the coming months.
Vancouver has been â€œbumpedâ€ from its spot as Canadaâ€™s top real estate market, but that does not mean it is in a slump.
So much for the housing market being crushed by rising interest rates.
The Bank of Canada cranked up its trendsetting overnight rate for the third time in four months on Wednesday and the impact will be felt by a wide range of borrowers. But home buyers? Not so much.