Market conditions in Vancouver have improved as a result of increasing consumer demand and a steady decline in the number homes for sale. Housing demand in Vancouver improved from a below average level to above average over the first ten months of the year. The main reasons for the increased demand were:
  1. Low interest rates - this helped to spur consumer demand for housing.
  2. Population growth - majority of the expected 35,000 to 36,000 net international migrants to the province settle in Metro Vancouver, creating a steady pace of housing demand.
  3. Employment growth - at 2.5 per cent contribute to the positive demand for housing.
  4. Consumer confidence - is on an upswing, with retail sales up 6.5 per cent year-over-year. 

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