According to the latest Affordability Report from Ratehub.ca, rising mortgage rates have made it progressively tougher to buy a home in recent months, and June was no exception. Affordability conditions worsened across the country, with declines in 12 out of 13 major markets. The report, which crunches monthly real estate and mortgage data to provide…
Home sellers off to an active start in 2025! Homes newly listed on the MLS® in Metro Vancouver* rose 46 per cent year-over-year in January, as sellers appear eager to enter the market to start the year. The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,552 in January 2025, an…
Our local real estate board reports ‘balanced conditions come to the Metro Vancouver housing market for the holiday season’. With one month left in 2023, a steady increase in housing inventory is offering home buyers across Metro Vancouver among the largest selection to choose from since 2021. The Real Estate Board of Greater Vancouver (REBGV)…
The Real Estate Board of Greater Vancouver housing market remains resilient in the face of challenging economic conditions. Over the past few months, we’ve witnessed an increase in home values, amounting to $31,351 since June. This brings the average home price in Greater Vancouver to $1,301,970, marking a noteworthy year-over-year increase of $62,063. Among the…
Competition among buyers in Metro Vancouver’s housing market heats up as summer arrives. While the year started slower than usual, Metro Vancouver’s housing market is showing signs of heating up as summer arrives, with prices increasing for the sixth consecutive month. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in…
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…
Much like in May, June was again a buyer’s market in West Vancouver based on sales to new listings. In North Vancouver, June was once again a balanced market, based on sales to new listings. For a full picture of the today’s housing market reach out to [email protected] 604-790-1900
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…
Just released board stats show January 2022 home sales were down from last year’s record-setting pace, while low supply continued to cause home prices to edge higher across across Metro Vancouver. “Our listing inventory on MLS® is less than half of what would be optimal to begin the year. As a result, hopeful home…
This is a question that many Canadians ask themselves before entering the housing market. Home ownership can be advantageous in several ways. An owner has more stability and flexibility than a renter, as there is no landlord imposing restrictions or timelines. There are also financial benefits to owning your own home. In an effort to…
