Our local real estate board just released its recap and looking ahead report: Metro Vancouver home sales registered a strong finish to cap off 2024 signaling strengthening demand momentum as we move into the new year. Looking at 2024, realtors registered over 26,561 home sales on the MLS in 2024. Sale activity had a…
The new insured mortgage rule changes have come into effect now and here is your guide to them! 1. Cap on insured mortgages increasing from $1M to $1.5M – with this change, it will be possible to buy a primary residence upto $1,499,999 and not have to put down 20% – minimum down payment rules…
The real estate landscape in 2024 has started on a positive note, and industry experts predict a further acceleration in market conditions in the latter half of the year. This creates a timely opportunity for prospective homebuyers to make their move before the market potentially witnesses a resurgence of multiple offers and frenzied activity. As…
The British Columbia Real Estate Association (BCREA) just released their report that 73,109 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in 2023, a 9.2 per cent decline from 80,506 units sold in 2022. The annual average MLS® residential price in BC was $971,144, a 2.6 per cent decrease from $996,943 recorded…
The Real Estate Board of Greater Vancouver just released a report saying….. “Under the hood, 2024 is poised to be a growth year for the residential market across the Real Estate Board of Greater Vancouver’s areas. Fundamental factors that drive our market, such as household formation, population growth, and employment growth remain fairly strong despite…
Metro Vancouver* housing market experienced a year of caution in 2022. Due to rising borrowing costs fueled by the Bank of Canada’s ongoing battle with inflation. REALTOR®’S registered 28,903 home sales on MLS® in 2022. A 34% decrease over 2021 and 13% below the 10-year average. Sellers listed 53,865 on the MLS® in 2022. A…
The British Columbia Real Estate Association (BCREA) released its 2022 Second Quarter Housing Forecast today. Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 22 per cent from a record high 2021 to 97,240 units this year. In 2023, MLS® residential sales are forecast to fall an additional 12.4 per cent…
Sales at the beginning of 2022 remained elevated and new listings are entering the market at more typical levels. Going forward, we expect sales to pull back and price growth to remain elevated. Our real estate board Economist assesses Metro Vancouver’s house market activity over the first quarter of 2022 and projects what home…
