USA Tariffs impacting housing activity
The British Columbia Real Estate Association says housing activity slowed last month. According to a new report, residential home sales were down nearly 10 per cent last month compared to the year prior.
The average Multiple Listing Service residential price in B.C. was also down 2.4 per cent to $964,349 compared to $987,811 in February 2024.
Total sales were also down nearly 12 per cent compared to 2024, and down 28 per cent from the ten-year February average.
Will interest rate cuts by the Bank of Canada stimulate Buyers and sales? Stay tuned.....
As of January 1, 2025 the BC Home Flipping Tax is now in effect and includes pre-sale contracts. If the property is owned for less than 730 days this tax will apply. It is seperate and distinct from the Property Transfer Tax. Oh joy!
Oh by the way......whenever you come across a friend or family member who is thinking about Buying or Selling a Home, and they would appreciate the kind of service I offer, then I'd love to help them. Referrals are always rewarded!
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