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What will happen to the market in the next 11 months

Poll ended at Tue Feb 14, 2017 11:01 am

Prices increase by 10% or greater
2 (18%)
Prices increase by 5%
2 (18%)
Prices stay relatively flat
2 (18%)
Prices decrease by 5%
No votes
Prices decrease by 5% or greater
5 (45%)
 
Total votes: 11
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: Predictions for 2017

Tue Apr 18, 2017 2:05 pm

Coming spring, we're going to the moon! its different this time.
 
reallyreal2
Real Estate Talker
Posts: 666
Joined: Fri Jun 03, 2016 11:30 am

Re: Predictions for 2017

Tue Apr 18, 2017 2:34 pm

Harahomes wrote:
I guess everyone was wrong.  I was predicting 10% year over year, but according to the new numbers we are sitting at 12.3%

TORONTO — Royal LePage says early evidence suggests that the recent correction in Vancouver’s housing market may be short-lived.
The realtor released a report Tuesday saying Canada’s two largest real estate markets continued their divergence in the first quarter of the year.
The aggregate price of a home in the Greater Toronto Area rose by an “unprecedented” 20 per cent across all housing types to $759,241 in the first three months of 2017.
In the Greater Vancouver area, the price of a home rose 12.3 per cent year-over-year to $1,179,482.
Royal LePage CEO Phil Soper says the housing correction in Vancouver began seven months ago, around the time that the B.C. government introduced a 15 per cent tax on foreign nationals buying real estate in the city.

Sales volumes then plunged and prices slowed their torrid upwards trajectory.
But just in the past month, sales in the Vancouver area have leapt forward by close to 50 per cent on a month-over-month basis, says Soper — better than the seasonal average.
“An unfortunate side effect of heavy-handed regulatory intervention is that we risk market whiplash,” Soper said in a statement.
“In the coming weeks, it is possible that six months of pent-up demand will be unleashed on the market, sending prices sharply upward again; this when the pre-intervention 2016 trend was a natural market slowdown based on eroding affordability.”
Across Canada, the aggregate price of a home grew 12.6 per cent year-over-year to $574,575 during the first quarter, Royal LePage said.
The price of a two-storey home climbed 13.9 per cent year-over-year to $681,728, while the price of a bungalow rose 10.9 per cent to $490,018. Condo prices increased by 8.9 per cent to $373,768.
In Calgary, home prices were up 0.6 per cent to $461,635, while in Edmonton they rose 0.3 per cent to $381,733.

Hurry up and buy buy buy!!!!
as fast as you can!
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: Predictions for 2017

Tue Apr 18, 2017 2:50 pm

^----finally he/she/it realizes it. get in while you can.   to the moon!
 
jimtan
Real Estate Talker
Posts: 5408
Joined: Tue Jul 31, 2007 10:59 pm

Re: Predictions for 2017

Tue Apr 18, 2017 3:00 pm

jimtan wrote:
Ahhhh.

I may not be a maths genius. But, it seems to me that a 12% increase year over year doesn't mean that it will rise 12% for 2017?

"What will happen to the market in the next 11 months?"

:wink:

Hope that other members don't make the same mistake. 
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: Predictions for 2017

Tue Apr 18, 2017 3:03 pm

Intelligent people knows it's allowed to go up each year the same - to the moon !
 
reallyreal2
Real Estate Talker
Posts: 666
Joined: Fri Jun 03, 2016 11:30 am

Re: Predictions for 2017

Tue Apr 18, 2017 8:56 pm

Harahomes wrote:
I guess everyone was wrong.  I was predicting 10% year over year, but according to the new numbers we are sitting at 12.3%

TORONTO — Royal LePage says early evidence suggests that the recent correction in Vancouver’s housing market may be short-lived.
The realtor released a report Tuesday saying Canada’s two largest real estate markets continued their divergence in the first quarter of the year.
The aggregate price of a home in the Greater Toronto Area rose by an “unprecedented” 20 per cent across all housing types to $759,241 in the first three months of 2017.
In the Greater Vancouver area, the price of a home rose 12.3 per cent year-over-year to $1,179,482.
Royal LePage CEO Phil Soper says the housing correction in Vancouver began seven months ago, around the time that the B.C. government introduced a 15 per cent tax on foreign nationals buying real estate in the city.

Sales volumes then plunged and prices slowed their torrid upwards trajectory.
But just in the past month, sales in the Vancouver area have leapt forward by close to 50 per cent on a month-over-month basis, says Soper — better than the seasonal average.
“An unfortunate side effect of heavy-handed regulatory intervention is that we risk market whiplash,” Soper said in a statement.
“In the coming weeks, it is possible that six months of pent-up demand will be unleashed on the market, sending prices sharply upward again; this when the pre-intervention 2016 trend was a natural market slowdown based on eroding affordability.”
Across Canada, the aggregate price of a home grew 12.6 per cent year-over-year to $574,575 during the first quarter, Royal LePage said.
The price of a two-storey home climbed 13.9 per cent year-over-year to $681,728, while the price of a bungalow rose 10.9 per cent to $490,018. Condo prices increased by 8.9 per cent to $373,768.
In Calgary, home prices were up 0.6 per cent to $461,635, while in Edmonton they rose 0.3 per cent to $381,733.

gold star for harahomes - that's all. Could have made $200K or more if he actually believed his own advice.  LOL
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: Predictions for 2017

Tue Apr 18, 2017 8:58 pm

limited supply! we're going to the moon!
 
jimtan
Real Estate Talker
Posts: 5408
Joined: Tue Jul 31, 2007 10:59 pm

Re: Predictions for 2017

Mon Apr 24, 2017 6:45 am

Limited?
Attachments
Record construction apartments.JPG
Record construction apartments.JPG (83.26 KiB) Viewed 250 times
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: Predictions for 2017

Mon Apr 24, 2017 6:59 am

^- unlicenced irrelevant picture
 
jimtan
Real Estate Talker
Posts: 5408
Joined: Tue Jul 31, 2007 10:59 pm

Re: Predictions for 2017

Mon Apr 24, 2017 7:56 am

unlicensed mind  :mrgreen:

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