Cooling Vancouver home sales cramp average price, but B.C. market still strong
VANCOUVER — The British Columbia Real Estate Association says home sales in Vancouver have slowed but the overall housing market across the province is healthy.
Association chief economist Cameron Muir says 8,945 residential sales were recorded by the Multiple Listing Service in August.
He says that’s a 1.5 per cent increase compared to August 2015.
Muir points to the B.C. government’s newly introduced 15 per cent foreign buyer tax and the 3 per cent property transfer tax on homes over $2-million for slowing the top end of the Vancouver market last month.