News: Vancouver Real Estate Market

National aggregate home price increases 21.4% year-over-year

Third quarter highlights:

• Royal LePage maintains its 2021 forecast, with the national aggregate home price expected to rise 16.0% in Q4, compared to a very strong Q4 2020
• Very low inventory pushes potential buyers to sidelines amid national housing supply crisis, resulting in pent-up demand
• 5% of regions surveyed saw double-digit year-over-year aggregate price growth in Q3
• Condominiums continue price rebound in urban centres as return to...

A new study from Royal LePage has found that homeowners who can afford 20% down payments are much better off in the long run than renters.

In fact, buying a home in Canada with an uninsured mortgage puts homeowners ahead of renters in 91% of cases analysed.

"Canadians strongly value homeownership for many reasons. Not only is it a great source of pride, it is likely the largest and most significant financial investment most people will ever make," Karen Yolevski, chief operating officer of Royal LePage...

Home sale activity remains elevated across Metro Vancouver's housing market while the pace of homes being listed for sale continues to follow long-term averages.   The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,149 in September 2021, a 13.6 % decrease from the 3,643 sales recorded in September 2020, and a 0.1 % decrease from the 3,152 homes sold in August 2021.  Last month's sales were 20.8 % above the 10-year September...