Inflation, rising interest rates create caution across Metro Vancouver’s housing market Home sale activity across the Metro Vancouver housing market continued to trend well below historical averages in October. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totaled 1,903 in October 2022, a 45.5 per cent…
Our real estate board reports that a total of 128 North Vancouver residential property sales were recorded by the Multiple Listing Service® (MLS®) in September 2022, a decrease of -44% from September 2021. The MLS® residential property House Price Index (HPI) was $1,320,400, +1.5% increase from $1,301, 200 recorded in same month last year. September…
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…
Home sellers were more active in September while home buyer demand remained below the regions long term averages. Let’s take a closer look. Metro Vancouver Realtor®’s registered 1,687 home sales on the MLS® in September. This is a -46% decrease from this time last year and -36% below our 10 year sales average. Sellers new…
Home sellers were more active in Metro Vancouver’s housing market in September while home buyer demand remained below the region’s long-term averages. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,687 in September 2022, a 46.4 per cent decrease from the 3,149 sales recorded in…
The root issue that drives housing prices almost always is supply and demand. Several factors influence supply and demand such as mortgage interest rates, inflation, employment, investment, construction, immigration, government assistance programs, and the health of local and world economies. Check out the supply and demand trend for West Vancouver‘s apartments:
West Vancouver and North Vancouver market activity for detached homes has shifted below our long term averages. Inflationary pressure and rising interest rates are likely key drivers of these trends. This shift in market conditions may cause prices to continually edge down as they have over the past while. At this time, many…
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…
Beginning September 12th, Real Estate Board of Greater Vancouver historical home sale prices will be displayed on REALTOR.ca for listings actively listed for sale on the Multiple Listing Service® (MLS®). It’s important to note that the previous sale price will only appear if the sale occurred at least one year before the homes most recent…
