News & Tips

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 […]

2018 ENDS WITH MARKET CONDITIONS FAVORING BUYERS “This past year has been a transition period for the Metro Vancouver housing market away from the sellers’ market conditions we experienced in previous years … High home prices, rising interest rates and new mortgage requirements and taxes all contributed to the market conditions we saw in 2018” […]

Winter Brings Cooling Home Sales and Prices “Home prices have declined between 4 percent and 7 percent over the last six months depending on property type” – Real Estate Board of Greater Vancouver President Home sales across all property types have dropped approximately 40% compared to this time last year. The decline in sales has […]

Slow Sales and Abundant Inventory Push Down Vancouver Home Prices “Home prices have edged down between 3% and 5%, depending on housing type, in our region since June . . . this is providing a little relief for those looking to buy compared to the all-time highs we’ve experienced over the last year” – REBGV […]

Metro Vancouver’s housing market has changed pace compared to the last few years. Our townhome and apartment markets are sitting in balanced market territory and our detached home market remains in a clear buyers’ market” – REBGV President       BUYERS’ BEST BETS – Top Buyers’ Markets last month were:  West Vancouver Detached at […]

Vancouver housing market continues to experience reduced demand across all housing types. Last month’s sales were 25% below the 10-year August sales average. “Home buyers have been less active in recent months and we’re beginning to see prices edge down for all housing types as a result,” Phil Moore, REBGV president said. “Buyers today have […]

EWER BUYERS, MORE CHOICE – VANCOUVER HOME SALES HIT LOWEST LEVELS IN 18 YEARS   Overall home sales across all property types in Metro Vancouver are down 30% compared to a year ago July 2017.   “Summer is traditionally a quieter time of year in real estate. This is particularly true this year … with […]