Category: Uncategorized
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Home Flippers Face New 20% Tax in BC
BC’s new 20% home-flipping tax takes effect January 1, 2025, targeting quick residential property sales. The tax applies to homes sold within 730 days of purchase, with a decreasing rate over time.
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Home sales hit 10-year low in the Fraser Valley
The composite benchmark home price in the Fraser Valley ended the year at $965,000, down 2% year-over-year and 4% from its March 2024 peak. December saw 994 sales, a 13% decline from November, with new listings dropping 46%, leading to a 23% decrease in overall inventory. The sales-to-active listings ratio was 16%, indicating a balanced…