{"id":1450,"date":"2022-06-20T17:44:49","date_gmt":"2022-06-20T17:44:49","guid":{"rendered":"https:\/\/wolfpackhomeinspection.com\/?p=1450"},"modified":"2022-06-20T17:45:21","modified_gmt":"2022-06-20T17:45:21","slug":"dont-panic-vancouver-housing-market-correction-underway-desjardins","status":"publish","type":"post","link":"https:\/\/wolfpackhomeinspection.com\/dont-panic-vancouver-housing-market-correction-underway-desjardins\/","title":{"rendered":"Don’t panic, Vancouver housing market correction underway: Desjardins"},"content":{"rendered":"\n
Home prices are expected to fall across the country and as we enter what seems to be a housing market correction, Desjardins has released a report on what the future may look like, including how the market might change in Vancouver.<\/p>\n\n\n\n
Like many parts of Canada, people were leaving the Vancouver core to find cheaper housing outside of the city.<\/p>\n\n\n\n
According to the BCREA, while home prices have increased across the province, they\u2019ve increased most in places like northern BC, Chilliwack, Kamloops, Powell River, and Vancouver Island.<\/p>\n\n\n\n
Desjardins suggests that what comes up must come down and that a housing market correction is likely underway.<\/p>\n\n\n\n
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Desjardins cautions not to panic and says that the drop in prices won\u2019t amount to an all-out collapse. Other interesting insights were shared in its\u00a0Canadian Residential Real Estate Outlook.<\/p>\n\n\n\n
There was a rush of people trying to get their purchases in prior to the National Bank of Canada hiking interest rates.<\/p>\n\n\n\n
\u201cBorrowing costs quickly took the wind out of the sails of the Canadian housing market,\u201d reads the report.<\/p>\n\n\n\n
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