Fara Ghafari, 88 West Realty
Fara Ghafari is a licensed real estate agent as well as a REALTOR® in CREA and an expert in rental and for-sale properties at 88 West Realty.
Fara Ghafari is a licensed real estate agent as well as a REALTOR® in CREA and an expert in rental and for-sale properties at 88 West Realty.
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Delayed Construction Could Push BC Home Prices 27%
Slide 1: 7,000+ unsold B.C. homes—highest since the 1990s, construction stalled. Slide 2: High interest rates + project cancellations = weak demand, echoing 2008 crash. Slide 3: Delayed builds today could spike prices 27% by 2032. Slide 4: Policy fixes: expand GST breaks, ease foreign-buy rules, cut dev charges. Slide 5: Construction costs doubled since […]
BCREA Urges Proactive Steps for a Resilient Housing Market
British Columbia's housing market faces a 30-year high in unsold new-home inventory, especially apartments, due to weak pre-sales and project delays. This mirrors post-2008 trends, risking future undersupply and a potential 27% rise in inflation-adjusted home prices by 2032. To improve affordability, policies should boost demand—such as expanding GST exemptions—and support supply by reducing development […]
Housing market poised for modest rebound in 2026
After B.C.'s weakest home sales year in over a decade, a modest rebound is expected in 2026, with most regions returning to average sales levels. Metro Vancouver's recovery will be slower, with sales rising 5-10% but remaining below average. Stable mortgage rates and pent-up demand support the rebound, though excess inventory keeps prices flat. Buyers […]
2025 Brings Affordable Opportunities for BC Homebuyers
British Columbia's 2025 residential home sales hit a decade low, with a 5.6% drop to 70,255 units and an 8.3% decline in sales dollar volume to $67 billion. The Lower Mainland and Vancouver Island saw significant sales decreases, while the Okanagan and Kootenays experienced over 8% growth. Average home prices fell 2.9% provincewide to $953,345, […]