News: Vancouver Real Estate Market

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Posted in Attached Homes, BC Home Sales, BCREA, BCREA Forecast, British Columbia Real Estate Association, Covid-19 impact on home prices, Detached Homes, Greater Vancouver, Home Buyers, Home Owners, Housing Forecast, Metro Vancouver, MLS, Multiple Listing Service, Pandemic, Real Estate Market Forecast, Recession, Residential Sales

The British Columbia Real Estate Association (BCREA) has released its 2020 Second Quarter Forecast. According to the release, a 21% decline in Multiple Listing Service® (MLS®) residential sales to approximately 61,000 units this year, after recording 77,347 residential sales in 2019. MLS® residential sales are forecast to increase by 45.3% to 88,500 units in 2021.

Covid-19 BCREA Second Quarter Housing Market Update

"The bright outlook for 2020 home sales has been upended by the COVID-19 pandemic and resulting recession," said Brendon Ogmundson,...

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Posted in Active Listings, Attached Homes, BC Home Prices, Benchmark Price, Covid-19 Housing Market Update, Detached Homes, Greater Vancouver, Home Buyers, Home Owners, Housing Market, Metro Vancouver, Multiple Listing Service, Real Estate Board of Greater Vancouver, Real Estate Market Update, Real Estate Sales, Real Estate Statistics, REBGV, Residential Housing Market

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver today is $1,028,400 according to The Real Estate Board of Greater Vancouver (REBGV). This is virtually unchanged from April 2020, a 1.4% increase over the last three months, and a 2.9% increase compared to May 2019.

Real Estate Market Update REBGV

"Home prices have been stable during the COVID-19 period," Colette Gerber, REBGV Chair said. "While we're seeing a variety of long-term projections for the market, it's critical to...

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