News Formal

Lower Mainland detached housing market values holding steady: report

  • 📰 BurnabyNOW_News
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 77%

Business News News

Business Business Latest News,Business Business Headlines

Burnaby, Coquitlam and Port Coquitlam are among Metro Vancouver's most durable areas.

Detached house market values in West Vancouver and Vancouver’s west side are bucking downward price trends while Burnaby, Coquitlam and Port Coquitlam markets are proving durable, a new RE/MAX Canada report says.

The central bank surprised market watchers July 13 with a hike of 100 basis points, bringing its target for the overnight rate up to 2.5 per cent. However, 75 per cent of Greater Vancouver markets experienced a downturn in second median values, coming off peak levels reported in 2022’s first quarter. These established communities are drawing purchasers who are looking for affordable detached housing with good accessibility to the downtown core, with preliminary estimates of the Q2 median values ranging from just $1.44 million in Port Coquitlam to $2.12 million in Burnaby.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Lower Prices Starting to Draw Homebuyers Back Into the Market: RE/MAXThe second quarter saw GTA and Vancouver's home buying activity reignite thanks to softening prices. REMAXca | realestate realestatenews housingmarket
Source: storeyspub - 🏆 16. / 74 Read more »

'Softer' values for detached homes bringing buyers back into the marketCanadians seeking detached homes have returned to the market amid “softer” values in the second quarter, according to a new release from Re/Max Canada
Source: calgaryherald - 🏆 64. / 52 Read more »

'Softer' values for detached homes bringing buyers back into the market, RE/MAX study findsRE/MAX found an increase in second\u002Dquarter home sales across 40% of GTA neighbourhoods and 31% of the Greater Vancouver region. Read on
Source: financialpost - 🏆 7. / 85 Read more »

'Softer' values for detached homes bringing buyers back into the market, RE/MAX study findsRE/MAX found an increase in second\u002Dquarter home sales across 40% of GTA neighbourhoods and 31% of the Greater Vancouver region. Read on
Source: nationalpost - 🏆 10. / 80 Read more »