Metro Vancouver Housing Prices Down, but Not For Long

Price Tags

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Metro News and  Jeff Hodson reports that the latest Royal LePage housing price survey shows  a decline in housing prices in Metro Vancouver for the first quarter of the year. The reduction was not massive and is calculated as a weighted average of median home prices by the type of property. That decrease for the first quarter was 1.9 per cent.

“In a statement, Randy Ryalls, general manager of Royal LePage Stirling Realty, said the Metro Vancouver foreign buyer tax and eroding affordability cooled the market, but speculated the price drop may have bottomed out. “We are starting to see signs of a quicker-than-anticipated rebound in many regions across Greater Vancouver.”

The median price for a Metro Vancouver two-storey house was $1,503,146 down from 1,604,757 in the previous quarter. And the numbers for the City of Vancouver?  “According to the survey, in the City of Vancouver, the median…

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