Everyone knows or has heard about the laws of supply and demand. Demand is supported by Greater Vancouver's annual growth of over 30,000 people. The bulk of this growth coming from immigration from four or five key countries. However, there is also another 5,000 Canadians migrating here per year since 2012.
With such a large volume of new people arriving with the intent to own their own homes, it has created a market with more buyers than properties available for sale. When this happens, the pressure of the market will push the prices higher. We have seen this happening in the past few years but the big question most have is, 'will prices continue to rise?'
Even with last year's explosion in pricing where prices were jumping from 25%…
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