Victoria house prices surged upward this Spring after 6 months of price drops but, like 2018, the price increases may not extend into the summer.
Victoria condo and townhouse prices have been flat for over a year now.
The average Victoria household still can not afford current house prices and unusually high house prices ($200,000 more expensive than 2016) are the greatest factor making homes unaffordable.
Metro Vancouver and the Okanagan have been hit hard by a real estate slow down. The number of Victoria purchases-sales dropped too but prices haven't been as severely impacted.
Foreign speculative investors are leaving B.C. and prices are now more closely linked to local economic fundamentals.
