Greater Vancouver Real Estate Statistics - November 2022
Posted on Dec 02, 2022 in Market Update
Home sale and listing activity continue trending below long-term averages in November
While typically a quiet month of market activity based on seasonal patterns, November home sale and listing totals lagged below the region’s long-term averages.The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region tota...
BC Real Estate - Economic Forecast from BCREA
Posted on Nov 12, 2022 in Market Update
The factors that drove unprecedented demand during the last two years, including record low mortgage rates, buyer preference for extra space and the abiltity to work remotely, are now unwinding, prompting a significant shift in housing markets across BC. Most importantly, mortgage rates that hit record lows in 2021 have risen rapidly. Five-year fix...Greater Vancouver Real Estate Statistics - October 2022
Posted on Nov 02, 2022 in Market Update
Inflation, and 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 totalled 1,903 in October 2022, a 45...
Housing Softens Again in August
Posted on Sep 16, 2022 in Market Update
The full effects of the most recent rate hikes have not yet manifested. Statistics released today by the Canadian Real Estate Association (CREA) show that the slowdown that began in March in response to higher interest rates continued in August, albeit at a slower pace. Home sales recorded over Canadian MLS® Systems fell by 1.0% between July and Au...Lower Mainland’s commercial real estate market sees fewer transactions in the second quarter of 2022
Posted on Sep 15, 2022 in Market Update
Activity in the Lower Mainland’s commercial real estate market edged down in the second quarter (Q2) of 2022 from the brisker pace experienced at the start of the year.There were 485 commercial real estate sales in the Lower Mainland in Q2 2022, a 34.3 per cent decrease from the 738 sales in Q2 2021, according to data from Commercial Edge, a commer...
BC Housing Market Showing Signs of Stabilizing Despite Decreased Activity
Posted on Sep 13, 2022 in Market Update
The British Columbia Real Estate Association (BCREA) reports that a total of 5,645 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in August 2022, a decrease of 40.8 per cent from August 2021. The average MLS® residential price in BC was $918,378, a 2.1 per cent increase from $899,428 recorded in August 2021. Total sale...