CMHC Reports Healthy Housing Market in Victoria

CMHC analyzed housing markets across Canada, including Victoria and released their report on January 27, 2016.

The assessment is based on:

Overheating
Price Acceleration
Overvaluation
Overbuilding
Overall Assessment

The report says:

“Overheating, price acceleration, overvaluation and overbuilding are not detected in the Victoria market at this time. While the pace of existing home sales trended higher in the third quarter of 2015, particularly in the single detached segment, the available supply of a wide range of housing types continues to provide choice for home buyers at all price points. Home price growth was moderate in 2015 and supported by population growth. Demand for new homes continues to be well-matched by builders, and both the number of units under construction and the inventory of completed and unsold units are within historical norms.”

Based on the chart on Page 6, Victoria is the only assessed market without a cautionary note.

You can view the report here.