Municipal governments are starting to put green standards in place for developers and builders to follow to help protect the planet. But will it really work?
Fraser Valley home sales jumped in February despite the continued challenges of low supply versus rising demand, which is likely to be further sparked by lower interest rates.
There were 1,352 home sales processed through the region’s MLS system, slightly above the 10-year average for the month. That represents a 38% year-over-year gain and a rise of 39% month-over-month.
Fraser Valley Real Estate Board says that new listings were 3% below the long-term average with the 2,557 new listings representing a 15% increase from January but 15% lower than February 2019.
The total of 5,741 active listings at the end of February is an increase of 12% month-over-month but a decrease of 10% year-over-year.
“Supply is a challenge currently in some areas and for certain property types. In February, in Langley for example, for every 10 active townhomes, six sold. In Cloverdale, there were 26 active condo listings last month; and 20 sold,” said Darin Germyn, President of the Board.
Prices in February The MLS® HPI Benchmark Price for each property type in February was:
The survey shows that buying a home in a major city centre has risen 5% since last year.
The more time and money a developer spends navigating the extensive labyrinth of procedural processes, the costlier it becomes to build a new home.The more time and money a developer spends navigating the extensive labyrinth of procedural processes, the costlier it becomes to build a new home.
Coming to Toronto May 14-15 is an in-person event discussing multifamily investing and the benefits it can have for new and experienced investors.
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