No Resolutions, and No Predictions
As the stats indicate, the Comox Valley and Campbell River Markets show dramatic increases in sales volumes for single family dwellings; almost identical at 43 and 44% respectively. There was upward pressure on price in both markets. The apartment condo markets also show huge increases in the volume of sales.
Trying to hang onto this market has been difficult, so a prediction for 2017 is out of the question. Signs of a softening market in Vancouver, were countered by an announcement by the BC Government just before Christmas. The Owner Mortgage and Equity Partnership Program will provide five-year interest free loans. Most analysts I have read question the rationale and the motive, and some have been quite rude! For one man’s opinion click here.
In my view, over regulation which dramatically restricts supply is the real issue. The matter of low inventory levels has not been addressed.