Marcella Bernardo | Email news tips to Marcella
Metro Vancouver's hot real estate market may finally be cooling off enough to give new buyers hope they can afford to live here.
Three housing reports issued today include promising predictions.
The first from Canada Mortgage and Housing shows the pace of construction rose last month compared to June of 2011 with growth in BC up more than 30 per cent.
TD Economics is also estimating within two years housing starts will likely trend to 35-thousand units on an annual average basis.
The latest forecast from Royal LePage indicates Vancouver's prices will slide more than six per cent this year, thanks to growing inventory and dropping year-over-year sales.
Market watchers say mainland Chinese buyers are losing interest in Vancouver where new mortgage rules are also expected to cool down the highest prices in Canada.