“Back in January, few people would have predicted prices to be up as much as they are – ourselves included,” Andrew Lis, REBGV’s director of economics and data analytics said. “Our forecast projected prices to be up modestly in 2023 by about two per cent at year-end. Instead, Metro Vancouver home prices are already up about six per cent or more across all home types at the midway point of the year.” [read more]
“The fact we are seeing prices rising and sales rebounding this spring tells us home buyers are returning with confidence after a challenging year for our market, with mortgage rates roughly doubling,” Lis said. “The latest MLS HPI® data show home prices have increased about five per cent year-to-date, which already outpaces our forecast of one to two per cent by year-end. The year is far from over, however, and it remains to be seen if these price increases will be sustained into 2024.” [read more]
“The headline story in our market in 2022 was all about inflation and the Bank of Canada’s efforts to bring inflation back to target by rapidly raising the policy rate. This is a story we expect to continue to make headlines into 2023, as inflationary pressures remain persistent across Canada,” Andrew Lis, REBGV’s director, economics and data analytics said. [read more]
“Heading into 2023, the market continues the trend of shifting toward historical averages and typical seasonal norms,” Lis said. “Whether these trends continue will depend on looming economic factors and forthcoming housing policy measures on the horizon, which hold the potential to reignite uncertainty in our market. [read more]
To help deliver more good homes for people, the Province is introducing new laws to build the homes people need, make it possible for homes that are vacant to be rented and remove discriminatory age and rental restrictions in stratas that hurt young families. [read more]
“Inflation and rising interest rates continue to dominate headlines, leading many buyers and sellers to assess how these factors impact their housing options,” Andrew Lis, REBGV’s director, economics and data analytics said. “With sales remaining near historic lows, the number of active listings continues to inch upward, causing home prices to recede from the record highs set in the spring of 2022.” [read more]
“With inflationary pressure and interest rates on the rise, home buyer and seller activity shifted below our long-term seasonal averages this summer,” Andrew Lis, REBGV’s director, economics and data analytics said. “This shift in market conditions caused prices to edge down over the past four months.” [read more]
“Home buyers have more selection to choose from and more time to make decisions than they did over the past year,” Daniel John, REBGV Chair said. “Rising interest rates and inflationary concerns are making buyers more cautious in today’s housing market, which is allowing listings to accumulate.” [read more]
“With interest rates rising, home buyers are taking more time to make their decisions in today’s housing market,” said Daniel John, REBGV Chair. “Home buyers have been operating in a frenzied environment for much of the past two years. This spring is providing a calmer environment, with fewer multiple offer situations, which is allowing buyers to explore their housing options, understand the changing mortgage market, and do their due diligence.” [read more]
“With interest rates climbing and the total inventory of homes for sale inching higher, it’s important to work with your local Realtor to understand how these factors could affect your home buying or selling situation,” John said. [read more]
“We’re still seeing upward pressure on prices across all housing categories in the region. Lack of supply is driving this pressure,” John said. “The number of homes listed for sale on our MLS® system today is less than half of what’s needed to shift the market into balanced territory.” [read more]
The Metro Vancouver* housing market saw steady home sales activity, modest increases in home listings and continued upward trends in pricing in February. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,424 in February 2022, an 8.1 per cent decrease from the 3,727 sales recorded in February 2021, and a 49.8 per cent increase from the 2,285 homes sold in January 2022. [read more]
“The imbalance between supply and demand, coupled with some buyers wanting to use rate holds on lower rate fixed-term mortgages, is keeping upward pressure on home prices in this traditionally quieter time of year for the market,” Stewart said. [read more]
"Metro Vancouver home buyers compete for fewer home listings in October. Home sale activity in Metro Vancouver remained above historical averages in October while the overall supply of homes for sale dipped to levels not seen in three years." [read more]
Summer sees home listing supply decline across Metro Vancouver. While home buyers have remained active in Metro Vancouver throughout the summer, the supply of homes for sale has declined steadily since June. [read more]
While still elevated, home sale and listing activity in Metro Vancouver* has eased back from the record-setting pace seen in March and April of this year. Last month’s sales were 18.4 per cent above the 10-year June sales average. [read more]
Home sellers have become increasingly active in Metro Vancouver’s housing market this spring in response to heightened demand and rising home values that have materialized during the pandemic. [read more]
Home buyer and seller activity reached unprecedented levels across Metro Vancouver in March. Last month’s sales were 72.2 per cent above the 10-year March sales average and is the highest monthly sales total ever recorded in the region. [read more]
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,727 in February 2021, a 73.3 per cent increase from the 2,150 sales recorded in February 2020, and a 56 per cent increase from the 2,389 homes sold in January 2021. [read more]
In the first month of 2021, Metro Vancouver’s* housing market continued the pattern set at the end of last year with home sale activity outpacing the supply of homes listed for sale. [read more]
“After adapting to the COVID-19 environment, local home buyer demand and seller supply returned at a steady pace throughout the summer, fall and winter seasons," Gerber said. "Shifting housing needs and low interest rates were key drivers of this activity in 2020. Looking ahead, the supply of homes for sale will be a critical factor in determining home price trends in 2021.” [read more]
"The supply of homes for sale are a critical factor in understanding home price trends," Gerber said. "The total number of homes for sale in Metro Vancouver is lagging behind the pace of demand right now. This trend favours home sellers in today's market." [read more]
I had the pleasure of selling 8 homes in October. What a month - regionally, October 2020 was the second busiest October on record. It sure felt like it. Congratulation to my clients. Thank you for your trust and confidence! If you are thinking of buying or selling, let’s chat. I’d love to share with you what made October so busy. [read more]
Home sale and listing resurgence extends into the fall Home sale and new listing activity remained at near record levels across Metro Vancouver in October. The Real Estate Board of Greater … [read more]
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,643 in September 2020, a 56.2 per cent increase from the 2,333 sales recorded in September 2019, and a 19.6 per cent increase from the 3,047 homes sold in August 2020. [read more]
“REALTORS® continue to optimize new technology tools and practices to help their clients meet their housing needs in a safe and responsible way,” Colette Gerber, REBGV Chair said “Over the last three months, home buyers and sellers have become more comfortable operating within the physical distancing and other safety protocols in place.” [read more]
"Home prices have been stable during the COVID-19 period," Colette Gerber, REBGV Chair said. "While we’re seeing a variety of long-term projections for the market, it's critical to understand the facts and trends as they emerge." [read more]
“We’ve begun 2020 with steady home buyer demand that tracks close to the region’s long-term average,” Ashley Smith, REBGV president said. “Looking at supply, we’re seeing fewer homes listed for sale than is typical for this time of year. As we approach the traditionally more active spring market, we’ll keep a close eye on supply to see if the number of homes being listed is keeping pace with demand.” [read more]
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