The Real Estate Board of Greater Vancouver (REBGV) February listing data show a continued reluctance among prospective home sellers to engage in Metro Vancouver’s housing market, leading to below-average sales activity. With sales remaining well-below historical norms, the number of available homes for sale in the region have continued inching upwards. The REBGV reports that…
Residential real estate has a seasonality to it. The number of homes sold in the spring is almost always much greater than at any other time of the year. West Vancouver residential property sales totaled 27 in January 2023, a 41.2% decrease from the 46 sales recorded in January 2022, and a 30.77% decrease from…
Selling your house over the next few weeks might give you the best chance to be in front of buyers competing for homes while the number of properties for sale is still low! North Vancouver January residential inventory was down -46.48% from the 10-year January inventory average. JANUARY NV RESIDENTIAL INVENTORY NUMBERS PAST TEN…
The current housing market in Greater Vancouver presents a timely opportunity for astute buyers. As interest rates have risen over the past year, the average home price has experienced downward pressure, leading to a decrease in the average cost of housing and the potential to build equity in the longer term for those willing to…
RBC Monthly Housing Market Update reports Canada’s housing market inches closer to a cyclical bottom. ‘Home resales are now gradually stabilizing in most parts of the country after plunging through the spring and summer amid soaring interest rates. Nationwide activity even picked up slightly on a month-to-month basis for the second time in three…
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…
Our real estate board reports that residential property sales in West Vancouver was down approximately 34% and 13% from sales recorded in 2021 and 2020 respectively. Last year’s sales total was approximately 25% below the 10-year sales average. This sale activity trend was similar to North Vancouver. “The headline story in our market in 2022…
Recent Real Estate Board of Greater Vancouver (REBGV) stats release shows that residential property sales in North Vancouver was down, not unlike West Vancouver, approximately 32% and 10% from sales recorded in 2021 and 2020 respectively. Last year’s sales total was approximately 9% below the 10-year sales average. “Closing out 2022, the data show…
Rising mortgage rates brought uncertainty and caution to Metro Vancouver’s housing market in 2022. After seeing record sales and prices during the pandemic, Metro Vancouver’s 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. The Real Estate Board of Greater…
Two new regulations affecting BC’s real estate market went into effect with the start of the new year earlier this week. Here’s the key information you need to know. BC home buyer rescission period – HBRP As of January 1, 2023, BC home buyers now have a 3 day period in which they…
