News: Vancouver Real Estate Market

Vancouver, BC – June 30, 2011. The British Columbia Real Estate Association (BCREA) released its 2011 Second Quarter Housing Forecast today.

BC Multiple Listing Service® (MLS®) residential sales are forecast to increase 5 per cent from 74,640 units in 2010 to 78,200 units this year, before increasing a further 3.1 per cent to 80,700 units in 2012.

"Home sales will post some modest gains over the next two years," said Cameron Muir, BCREA Chief Economist. "However, positive...

OTTAWA, June 29, 2011 — An estimated 1.9 million households, surveyed in 10 major centres, indicated they completed renovations last year, a slight decrease from the 2.1 million households that completed a renovation in 2009. This represents 42 per cent of homeowner households (down from 50 per cent in 2009), according to the Renovation and Home Purchase Survey released today by Canada Mortgage and Housing Corporation (CMHC). The average cost of renovations was $12,972.

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Bob Rennie's address to the Urban Development Institute (UDI). As always, information-packed statistics came thick and fast, often generating a collective gasp of amazement. This year, Rennie focused on a question that's long been part of ongoing debate around dinner tables and office water coolers : is Vancouver the best place to live as The Economist and other publications suggest? Or are we the least affordable place to live as reported by the Frontier Centre for Public Policy in Winnipeg who ranked...

Where is the best place to find Vancouver open houses? When is the best time to search for open houses. Timing is important! Plus etiquette when visiting open houses.

Vancouver, BC – June 15, 2011. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential unit sales in the province edged down one per cent to 7,857 units in May compared to the same month last year. The average MLS® residential price climbed 20 per cent to $596,872 last month compared to May 2010.

"Tighter mortgage rules, tepid employment growth and advance buying during the first quarter kept BC home sales on a lower note...

Home sales remained at typical springtime levels on the Multiple Listing Service® (MLS®) in Greater Vancouver in May.
 
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 3,377 in May 2011, a 7 per cent increase compared to the 3,156 sales in May 2010 and a 4.7 per cent increase compared to the 3,225 sales in April 2011.

Looking back further, last month’s residential...