635 Properties changing hands. Where are the people who are selling these houses going??? Are they leaving town, or going into retirement homes???

If they are leaving town then we can expect another big decrease in population.

The interest rates are historically low and lots of people got in with nothing or little down. Everyone and their dog bought a house...now what? What happens when interest rates rise and CMHC does some personal accounting and realizes that they have more skin in the game than some of these buyers. Should be interesting.

"Where are the people who are selling these houses going???"

The majority are going to another house and those moving in are coming from another house..... :-)

No idea why they are moving ... to move away, to come here, to move to a larger house, to move to a smaller house, to move to a different part of town, to move to a house with a garage instead of a carport, to move to a house with a red door rather than a blue door ........

One thing is for sure, there are very few houses demolished in this city. There are new units, be they ever so few, that are built every year. The housing stock is increasing, the vacancy rate is relatively stable and the population has been decreasing ...... and the house and condo prices are going up ......

go figure..... My parents still live in the same house they bought in 1957. I still live in the same house I built in 1977. Too many people get itchy feet, or don't know what they want. I think it is a North American phenomenon. Keeps realtors happy ... :-)

I live in the first house I ever owned, bought in 1990. When I leave it will be feet first.
Meanwhile our younger kin have bought and sold more houses that I have bought shoes over the same time period. Every sale and purchase has involved fees to real estate agents, lawyers, government and assorted leeches, but, what the hell, it all goes onto the mortgage.
For the younger generations debt is someting to be "managed", not paid off. How they can sleep at night while having hundreds of thousands of dollars in debt having over their heads is beyond me.
Now we are being encouraged to buy more stuff, including houses, to recover from a recession caused by...excessive debt. Go figure.

I completely agree with Gus and SommerSoul. People are not aware of the cost of moving. If you keep moving you will never get ahead. Also, one of the main benefits of owning a home is the feeling of being settled and part of a neighbourhood.

A rolling stone gathers no moss but look at the polish you get.. I the last 30 years my family and I have owned nine different homes.. We didn’t sell them because the front door was the wrong clour. We sold them because as the bread winner work took us to most corners of BC.

And as we moved we generally got more money for the home we sold then what we paid for it Our last home sail was in was a Kelowna Condo. On which we also made a few bucks. Came BACK to PG bought a 1160 sq ft home for $114,000.00 in 2001 when they were giving homes away . Our home today is worth around $250, 000.00 and we don’t have a mortgage..

Our daughter has just sold her home and is moving to the coast and we will probably follow her.
What the hell new places new faces.
Cheers

$400,000 dollar three story homes up on top (for now) on St. Lawrence. No back yard and zero lot lines. Good luck reselling.

Capital Gains Tax on Home sales would stop this, just think about it do we all want to walk around and say my House is worth 1,2Mill, this is nuts.

Another real estate bubble that buyers and sellers are latching onto. It will come back to haunt them and the market.