After reaching record setting levels for many North Shore property types, last year home sale activity has returned to more typical, seasonal levels this Spring due in large part to rising interest rates. On the North Shore, REALTOR®s registered 287 North Vancouver and 69 West Vancouver home sales on MLS® in May. This is a…
Based on sales to active listings West Vancouver house market has been trending in the vicinity of buyer and balanced market territory since April 2021 and apartments since June 2018. WV townhome SAR (Sales-to-Active Listings Ratio) market trend line is erratic and not really reliable as a result of insufficient monthly sale and active listing…
May was again a seller’s market for North Vancouver homes, apartments and townhomes. Seller’s market conditions have held since June 2020 for NV homes, September 2020 for apartments and May 2020 for townhomes.! Seller’s market A seller’s market is when there are more people looking to buy then there are homes available. This causes…
The housing market, like most markets, is cyclical. These cycles can be greatly influenced by a number of factors, including interest rates, economic conditions and consumer confidence, which can create a shortage or surplus in housing. A seller’s market happens when there’s a shortage in housing or more potential buyers than homes. A buyer’s market,…
After reaching record-setting levels in 2021, home sale activity has returned to more typical seasonal levels in Metro Vancouver* this spring due, in large part, to rising interest rates. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totaled 2,918 in May 2022, a 31.6 per cent decrease…
For the first time since 2018, the Bank of Canada (BoC) increased its target for the mortgage-influencing overnight rate earlier this year, kick-starting what’s predicted to be one of many increases to mortgage rates in 2022. Experts have slightly different takes on where the overnight rate—which influences how banks will determine their own lending rates—will…
