Blog & News: Vancouver Real Estate Market
December 4, 2017
Metro Vancouver continues to experience above-average demand and below-average supply
VANCOUVER, BC – December 4, 2017 – Metro Vancouver saw modest home listing changes and steady demand in November.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,795 in November 2017, a 26.2 per cent increase from the 2,214 sales recorded in November 2016, and a 7.5 per cent decrease compared to October 2017 when 3,022 homes sold.
Last month’s sales were 17 per cent above the 10-year November sales average....
November 28, 2017
Housing Market Facing Headwinds Despite Strong Economy
Vancouver, BC – November 28, 2017. The British Columbia Real Estate Association (BCREA) released its 2017 Fourth Quarter Housing Forecast today.
Multiple Listing Service® (MLS® ) residential sales in the province are forecast to decline 10.4 per cent to 91,700 units in 2018, after an expected 8.8 per cent decrease this year. A record 112,209 unit sales were recorded in 2016. The ten-year average for MLS® residential sales in BC is 84,700 units. Strong economic and demographic...
November 6, 2017
Where are BC's Best Bets for Real Estate Investment?
Six of the top 10 cities are in the Lower Mainland, according to annual rankings.
The rapidly growing city of Surrey is once again ranked as the best bet to invest your buck in real estate, according to an annual ranking by the Real Estate Investment Network (REIN).
The 2017 survey identifies the top 10 cities in the province for real estate investment, based on REIN's research. REIN's methodology includes "all economic and demographic fundamental key drivers combined...
November 2, 2017
October sales exceed historical average
VANCOUVER, BC – November 2, 2017 – Metro Vancouver* home sales exceeded typical historical levels in October with the majority concentrated in the townhouse and apartment markets.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 3,022 in October 2017, a 35.3 per cent increase from the 2,233 sales recorded in October 2016, and an increase of 7.1 per cent compared to September 2017 when 2,821 homes sold.
October 17, 2017
OSFI Announcement of Change to Mortgage Underwriting
October 17, 2017 - The Office of the Superintendent of Financial Institutions (OSFI) announced new restrictions on uninsured mortgages today. Effective January 1, 2018, all home-buyers with a down-payment of more than 20 per cent will have to qualify at the higher of the posted 5-year qualifying rate and their contractual rate plus 200 basis points (2 per cent). This is in addition to policy announced in October of 2016 that required all insured borrowers qualify at the posted 5-year qualifying rate....
October 12, 2017
The Tale of Two Housing Segments Continues in the Greater Vancouver Residential Real Estate Market
Affordability issues and mortgage regulations spur activity in the region’s entry-level market
Price gap between condominiums and two-storey homes continues to narrow, benefiting move-up buyers
VANCOUVER, October 12, 2017 – According to the Royal LePage House Price Survey 1 released today, sales activity and consumer confidence across the Greater Vancouver residential real estate market continued to recover in the third quarter of 2017. While home price appreciation softened in the...
October 12, 2017
BC Home Sales Ratchet Higher in September
Vancouver, BC – October 12, 2017. The British Columbia Real Estate Association (BCREA) reports that a total of 8,340 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in September, an increase of 9.9 per cent from the same period last year.
Total sales dollar volume was $ 5.8 billion, up 30.2 per cent from September 2016. The average MLS® residential price in the province was $693,774, up 18.5 per cent from September 2016.
" BC home sales...