A Brief Note on Vancouver Real Estate - New Listings Activity in 2023
Posted on May 26, 2023 in Market Update
Summary of Findings
- New listings in BC have fallen to 25 per cent below pre-pandemic norms.
- Most of the explanation for low listings is due to overall slow market activity, but a multidecade high-interest rate differential between old and new mortgages is playing a role.
- The situation should resolve with time, but the current period further highlights...
Lack of Inventory Creating Tighter Market Conditions Across BC
Posted on May 21, 2023 in Market Update
The British Columbia Real Estate Association (BCREA) reports that a total of 7,427 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in April 2023, a decrease of 17.7 per cent from April 2022. The average MLS® residential price in BC was 995,506 down 5.6 per cent compared to the average price of close to $1.1 million...Greater Vancouver Real Estate Market Update - April 2023
Posted on May 02, 2023 in Market Update
Prices continue rising across Metro Vancouver as home buyer confidence returns
With listing activity remaining below historical norms, home sales in Metro Vancouver have mounted a surprising comeback, rising near levels seen last spring, before eight consecutive interest rate hikes eroded borrowing power and brought home sales activity down along wi...
Get Ready: The Best Time To List Your House Is Almost Here
Posted on Apr 20, 2023 in Market Update
If you’re thinking about selling this spring, it’s time to get moving – the best week to list your house is fast approaching.
Experts at realtor.com looked at seasonal trends from recent years (excluding 2020 as an uncharacteristic year due to the onset of the pandemic) and determined the ideal week to list a house this year:
“Home sellers on the fen...
Greater Vancouver Real Estate Market Update - March 2023
Posted on Apr 04, 2023 in Market Update
Spring brings renewed price growth across Metro Vancouver’s housing market while new listings remain dormant
Home prices across Metro Vancouver’s housing market showed modest increases in March, while new listings remained below long-term historical averages.
March data also indicates home sales are making a stronger than expected spring showing so...
Housing Market Could Be Poised For A Spring Rebound
Posted on Mar 16, 2023 in Market Update
The Canadian Real Estate Association says home sales in February bounced 2.3 from the previous month. Homeowners and buyers were comforted by the guidance from the Bank of Canada that it would likely pause rate hikes for the first time in a year. The Canadian aggregate benchmark home price dropped 1.1% in February, the smallest month-to-month decli...
