March home prices showed modest increase across Metro Vancouver’s housing market showed modest, while new listings remained below long-term historical averages. March data also indicates home sales are making a stronger than expected spring showing so far, despite elevated borrowing costs. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in…
Is being close to water such as an ocean, river, stream or lake, a benefit or a liability? It depends on whether the area has a floodplain map and if the area has ever had a flood, according to research from Ebbwater Consulting, The Impact of Flood Hazard on Real Estate Values. Decrease in…
A House Price Survey was just released by Royal LePage. According to its regional summaries, the aggregate price of a home in Greater Vancouver increased 2.4 per cent year over-year to $1,250,200 in the third quarter of 2022. On a quarterly basis, the aggregate price of a home in the region decreased 4.7 per cent;…
Stats recently released by our real estate board show West Vancouver is in a different market than earlier this year. Residential property sales decreased -41% from same time last year and down -41% from the 10 year monthly sale average. We’re likely in this market because interest rates have more than doubled since the…
With interest rates and housing supply increasing, Metro Vancouver home buyers are operating in a changing marketplace to begin the summer season. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totaled 2,444 in June 2022, a 35 per cent decrease from the 3,762 sales recorded in June…
The number of home sales in BC is expected to fall and home price growth will moderate because of rising interest rates according to a new report from British Columbia Real Estate Association examining the potential impacts of the likely Bank of Canada’s rate tightening. The report is written by BCREA Chief Economist and explores…
Mortgage interest rates, inflation, employment, investment, construction, immigration, government assistance programs, and the health of local and world economies are factors that can impact the housing market. 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…
Home sellers have become increasingly active in Metro Vancouver’s housing market this spring in response to heightened demand and rising home values that have materialized during the pandemic. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 4,908 in April 2021, a 342.6 per cent increase from…
