CMHC Forcast
CMHC has just held a conference and the hot topic is, as always, what is in the future for the market. The pundits have stated that they expect the Vancouver market to grow by up to 8% in the next year.
In a discussion with other Realtors in my office we found it hard to see examples where the market was up 8% this year in Langley. There have been rises however 8% would mean a $500,000 home was now $540,000 and next year will be $584,000.
Yes the growth is possible, perhaps more in some sectors of the market than in others. I don't think there will be a collapse but I'm not sure how good the gains will be. If history holds true, any gains made will be made in the spring.