News: Vancouver Real Estate Market

   Canadian economic growth rebounded strongly in the third quarter of 2011 following a slight contraction in Q2. Real GDP data released this morning showed that the economy grew a robust 3.5 per cent last quarter, propelled higher by surging exports. However, domestic demand moderated as consumers and businesses reigned in spending.

 

Our forecast is for economic growth to slow in the fourth quarter and through much of 2012, likely to an average rate of between 1.5 and 2.5 per cent....

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Vancouver, BC – November 8, 2011. The British Columbia Real Estate Association (BCREA) released its 2011 Fourth Quarter Housing Forecast today.

 

BC Multiple Listing Service® (MLS®) residential sales are forecast to rise 3.2 per cent from 74,640 units in 2010 to 77,000 units this year, increasing a further 3.9 per cent to 80,000 units in 2012.

 

“Low mortgage interest rates are expected to persist through 2012 keeping affordability on an even keel,” said Cameron...

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With a sales-to-active property listings ratio of 15 per cent, the Greater Vancouver housing market continues to hover at the lower end of a balanced market and has been trending in that direction over the past five months.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) system reached 2,317 in October, a 1 per cent decrease compared to the 2,337...

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