The Greater Vancouver Area and the City of Vancouver have been witnessing a slowdown over the last couple of months. There are several reasons for the Vancouver real estate market cooling, such as the changes in mortgage rules (introduced by the federal government in July 2012), as the maximum amortization has been reduced to 25 years from the previous maximum 30 years. This move obviously generated a reaction from buyers, as they experienced difficulties getting new mortgages from banks.

(Vancouver Real Estate Market Sales Cool in January continued...)