News: Vancouver Real Estate Market

As home prices and interest rates continue to rise, whilst inventory remains extremely tight, Canada’s first-time buyers are feeling increasingly worried about missing out on their desired home because they don’t have enough of a down payment.

According to a recent survey released by Sagen™, conducted by Environics Research with a series of questions for Royal LePage, 67% of first-time buyers (those that purchased a home within the last two years) said that before buying, they worried they might miss...

While the year started slower than usual, Metro Vancouver’s1 housing market is showing signs of heating up as summer arrives, with prices increasing for the sixth consecutive month.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,4112 in May 2023, which is a 15.7 per cent increase from the 2,947 sales recorded in May 2022, and a 1.4 per cent decline from the 10-year seasonal average (3,458).

"Back in January, few people would have predicted...