Category: Market Updates

In the first part of the year many prospective buyers were in a holding pattern waiting to see how prices would react to the mortgage stress test, new taxes, and other policy changes. Buyer confidence started to return in late summer and we saw above-average sales in the second part of 2019. As a result, […]

After flattening out in the summer, the real estate market rallied in the Fall and continued its positive trend in November with many areas moving from buyer’s markets to balanced markets and some into seller’s markets. Canada Mortgage and Housing Corporation (CMHC) is forecasting price increases in 2020 in British Columbia: “Prices will start recovering […]

After sitting on the sidelines for roughly a year, many buyers are now jumping back into the Vancouver market and soaking up inventory. Vancouver home sales were 45% higher last month compared to October 2018, and inventory that had piled up is now thinning out. Home prices in most areas are currently still lower than […]

The number of sales transactions in September 2019 was 46.3% higher than in September 2018, and continued to trend upwards on a month-to-month basis. Meanwhile the Home Price Index showed a flattening of prices, which could possibly indicate the market is near, or at, the bottom of the recent price correction in Greater Vancouver.   […]

“Prices are still softening, but at a much slower pace than they had been previously … We’re getting back to more of a normalized market”   – Real Estate Board Of Greater Vancouver President Ashley Smith.   Vancouver home sales volumes across all property types spiked 16% higher last month compared to August 2018.  However year-over-year […]

“While home sale activity remains below long-term averages, we saw an increase in sales in July compared to the less active spring we experienced … Those looking to buy today continue to benefit from low interest rates, increased selection, and reduced prices compared to the heated market a few years ago” – REBGV president   […]

Home Buyers Have Highest Level Of Inventory To Choose From in Five Years   As the summer kicks in, fewer home sellers listed their properties in June, however, despite this relative reduction in new listings, the slow absorption rate has pushed up the total number of homes currently available for sale.   “Home buyers haven’t had […]

“High home prices and mortgage qualification issues caused by the federal government’s B20 stress test remain significant factors behind the reduced demand that the market is experiencing today” – REBGV President Although home sales activity increased slightly in May, it was not enough to offset all the new listings coming on to the market, and inventory […]

Latest Market Stats Identify Opportunities for Both Buyers & Sellers People always ask “Is this a good time to buy and/or sell?” The best time to sell or buy should be determined by your life circumstances, what you need, and what you are comfortable with over the longer-term horizon (7-10 years) rather than on the […]

MORTGAGE STRESS TEST CREATING PENT-UP DEMAND Vancouver, BC – April 15, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 5,707 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in March, a decline of 23 per cent from the same month last year. The average MLS® residential price […]