News: Vancouver Real Estate Market

Home prices are approaching bubble territory, although a cool-off is expected.

OTTAWA - Canada's housing market is reaching the limits of sustainability and could tumble if there is no moderation, the Bank of Montreal says.

The bank notes Canada's hot housing market is still not in the red zone for prices, but it's getting there. (Click here to download full story in PDF)

VANCOUVER - Richmond and Vancouver's west side housing markets are red hot, according to a monthly real estate report released Wednesday.

"It's a huge sellers' market, the strongest in those areas I've ever seen," Real Estate Board of Greater Vancouver president Jake Moldowan said in an interview. "And there's no question that it's the offshore market that's focused on these two areas." (Click here to download full story in PDF)

Buying real estate? A few grow-op warning signs.

Demand for detached homes continues to be strong across Greater Vancouver, with particularly high sales volumes occurring in Richmond and Vancouver Westside.

For the past two months, the number of properties listed for sale and those sold on the Multiple Listing Service® (MLS®) in Greater Vancouver outpaced the 10-year average in both categories. From a historical perspective, February’s 3,097 home sales outpace the 2,742 home-sale average recorded in the region over the last ten years....