Category: Market Updates

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 […]

Latest Housing Statistics Reveal Mixed Markets     Generally, prices have softened across all types of housing in Greater Vancouver, although house prices have declined more than condos and townhouses. Detached home prices are down 10.5%, while condos and townhomes are 6% lower than compared to March 2018.   However, market activity varies greatly from […]

GOOD NEWS FOR HOME BUYERS: More Selection & Less Competition   “For much of the past four years, we’ve been in a sellers’ market. Conditions have shifted over the last 12 months to favour buyers, particularly in the detached home market,” Phil Moore, REBGV president said. “This means that home buyers face less competition today, […]

A BUYERS MARKET For all property types, the sales-to-active listings ratio for last month was 10.2%. By property type, the ratio was 6.8% for detached homes, 11.9% for townhomes, and 13.6% for condos. Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12% mark for a sustained period, while home […]