Our board just released its monthly stats saying “Metro Vancouver’s housing market is experiencing a quieter summer season marked by reduced sale and listing activity”. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totaled 1,870 in August 2022, a 40.7 per cent decrease from the 3,152 sales…
Find it confusing when your on a home search mission, driving realtor.ca or realtylink.org? All you’d like to do is focus on specific West Vancouver and or North Vancouver neighborhoods for your next address but uncertain about neighborhood boundaries? This might help! Our real estate boards most current neighborhood boundaries for West Vancouver totals 36…
Our real estate boards new Director of Economics and Data Analytics when asked ‘In your opinion, what economic indicators are the most telling about what’s happening in the real estate market?’ Andrews Lis replied: “I think most people would focus on average (or median) prices and sales volumes. We certainly see lots of discussion about…
With interest rates and housing supply increasing North Vancouver home buyers are operating in a changing market place. Let’s take a closer look! MLS® stats show North Vancouver had 174 home* sales in July 2022. This is a -30% decrease from this time last year (YOY) and is -20% below North Vancouver’s 10 year monthly…
Buyers poised to benefit from moderating prices and reduced real estate sales activity! In July, sales activity continued to slow as compared to 2021. Prices also continued to moderate following the peak seen in March 2022, however, benchmark prices in the Greater Vancouver Area remain ahead of last year by a significant margin. The…
In North Vancouver sales numbers for most property types were down in June compared to same month last year and from May 2022. Detached homes sale totals were down -47.5% from same month last year and -21.25% from May 2022, apartments -28.1% and -37.01% respectively. NV townhomes June sale activity was down -32.2% from June…
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…
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…
