Vancouver's crazy market shows signs of slowing down as some economists and real estate agents saying the peak has passed.
This would be great news to homebuyers who have struggled to win in multiple offers.
“A few months ago the dogs — the less desirable units that a year ago nobody was bidding on — they were going with multiple offers … that’s definitely slowed,” said Pete Shpak, a Vancouver agent.
“I have seen a couple (homes) lately, though, that I thought would go into multiple offers, but didn’t,” he added.
Prices are still up compared to last couple years, rising 41 per cent in Vancouver according to the Canadian Real Estate Association. (CREA) Prices fell 0.3 per cent in March and 1.0 per cent in April this year. Activity was still up from a year ago.
Check out the full article from the Financial Post