Greater Vancouver housing sales volume roared ahead 52.5 per cent last month.
The number of properties sold on the Multiple Listing Service reached 2,514 in August, up sharply from the same month of 2012, the Real Estate Board of Greater Vancouver said Wednesday.
While buyers rushed back into the housing market, the increased sales came after a weak period in the summer of 2012. In July last year, the federal government reduced the maximum period on government-backed mortgages to 25 years from 30 years. Real estate experts say the change, which knocked some first-time buyers out of the market, contributed to the slowdown in housing sales in Vancouver in August of 2012.
The number of properties sold on the Multiple Listing Service reached 2,514 in August, up sharply from the same month of 2012, the Real Estate Board of Greater Vancouver said Wednesday.
While buyers rushed back into the housing market, the increased sales came after a weak period in the summer of 2012. In July last year, the federal government reduced the maximum period on government-backed mortgages to 25 years from 30 years. Real estate experts say the change, which knocked some first-time buyers out of the market, contributed to the slowdown in housing sales in Vancouver in August of 2012.
No comments:
Post a Comment