The Canada Mortgage and Housing Corporation recently released an updated market outlook for Fall 2017, and if you’ve been paying attention to the market at all, their findings will not surprise you! Here are the 7 main takeaways:
1. Additional inventory is needed in order to balance Victoria’s housing market. Despite a high level of construction activity, there haven’t been many completed housing units since demand soared last year. With several thousand completed units expected in 2018 and 2019, these added listings should help to restore some market balance. Even so, demand will remain high and housing prices are unlikely to decline.
Wanted: more listings in Victoria! Source: Flickr
2. With thousands of rental units...