Our real estate board just released its latest economic analysis. It takes a deeper look at housing supply trends in Metro Vancouver* and the ratio of buyers to sellers that have been active in the market throughout the COVID-19 pandemic. *Areas covered by the Real Estate Board of Greater Vancouver include: Burnaby, Coquitlam, Maple Ridge, New Westminster,…
There are three classifications experts use to describe the balance of supply and demand in the housing market: Seller’s market A seller’s market is when there are more people looking to buy then there are homes available. This causes a rise in price above the long-term average rate of inflation. Typically this is indicated by…
Several factors influence the housing market, including mortgage interest rates, inflation, employment, investment, construction, immigration, government assistance programs, and the health of local and world economies. All of these influence the supply and demand of the market which, in turn, affects prices. There are three classifications experts use to describe the balance of supply and…
As we near the end of 2021, home buyer demand remains well in excess of long-term averages and the supply of homes for sale continues to decline across Metro Vancouver’s housing market. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,428 in November 2021, an 11.9…
As a result of highly competitive market conditions and escalating housing prices, BC’s real estate regulator, the BC Financial Services Authority (BCFSA), is developing a consultation on “blind bidding” to understand whether changes to the offer process in real estate transactions could improve protection for homebuyers. This announcement was paired with recent news that the…
West Vancouver‘s sales-to-active listings ratio trend for different property types shows that market conditions vary by property type. Buyers’, sellers’, and balanced markets are terms that describe whether the market is putting upward, downward, or no pressure on home prices. Buyers’ markets typically occur when the sales-to-active listings ratio dips below the 12 per cent…
Our board’s economist Keith Stewart recently released a new quarterly housing market analysis provided below, that looks at MLS® housing market data and other fundamental economic measures affecting the market. Check out the videos with Keith that provide more bite-sized insights into the information in the report. In first video, Keith discusses what’s happening with…
Thinking of a North Vancouver purchase? Or giving thought whether the timing is right to sell your North Vancouver home? Check out the super helpful market activity snapshots below to help you get a sense of today’s real estate market. They are a great breakdown of market activity stats for different North Vancouver property types,…
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. *Areas covered by the Real Estate Board of Greater Vancouver include: Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South…
In West Vancouver, there were 60 sales in the month of October. The sales to new listings ratio was 47% which represents a balanced market. For October 2021, the sales to total active listings percentage was 15%, a decrease from 17% in October 2020. Sales for October 2021 were down by 14 units compared to…
