According to a real estate group based in Greater Vancouver, more and more people who look to buy homes and invest in Metro Vancouver's market are being scared away by the media's stories on high prices.
The group is encouraging home buyers to do their own research instead of relying on the media, since it can actually reconsider those notions, News 1130 reports.
"There are a lot of people out there that are probably frightened way by what they hear in the media or read in the newspapers or online about the big numbers that are showing up for average prices but when you do break it down by neighborhood, which most people don't either take the opportunity or have the opportunity to do, you're not getting the real picture," said Darcy McLeod of the Real Estate Board of Greater Vancouver.
"And makes them feel like what's the point in even looking, well the point of even looking is that real estate is a fantastic investment still," he continued.
Apparently, words like "overheated," "over-inflated" and "million" are just a few triggers that make people believe that they can't afford to buy a home in Greater Vancouver.
"There's still value out there in the marketplace and there's opportunities for buyers," McLeod added.
But it seems as though the Real Estate Board shouldn't worry too much, since the Metro Vancouver housing market was able to produce record-breaking sales in 2015; they reported that sales increased 27.8 percent (42,326 units) in 2015.
The Real Estate Board of Greater Vancouver also highlighted that the properties listed in the same year also rose 2.1 percent, with a total of 57,249.
Apparently, the incapability of supply to actually meet the demand - especially for single-detached houses - was the factor behind increasing home prices last year, as reported by News 1130.