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Blog by Colleen Shorter

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Stress Test Creating Pent-up Demand

The below news from the British Columbia Real Estate Association  (BCREA) was just released. Accordingly, BCREA says the B20 Mortgage Stress Test is responsible for buyers not proceeding with a purchase, do you agree or is it that home prices are just to high? Prices overall have only declined by an average of 5.4%. The market is not favoring sellers right now however “pent-up demand”, if/once released may provide some short-term relief.