News: Vancouver Real Estate Market

A recent survey reveals that 83% of adults in British Columbia, specifically those from Generation Z and younger Millennials aged 18 to 38 (born between 1986 and 2006), view homeownership as a valuable investment. Among those who don't currently own a home, 77% plan to purchase a primary residence during their lifetime.

"Young Canadians have a strong positive outlook on owning real estate. Despite the challenges of entering urban markets like Vancouver, this demographic sees homeownership as a significant...

Newly listed properties registered on the Multiple Listing Service® (MLS®) rose nearly 20% year over year in July, helping to maintain a healthy level of inventory in the Metro Vancouver housing market. 

On the demand side, the Greater Vancouver REALTORS®2 (GVR) reports that residential sales in the region totalled 2,333 in July 2024, a 5% decrease from the 2,455 sales recorded in July 2023. This was 17.6% below the 10-year seasonal average (2,831).

“The trend of buyers remaining hesitant, that...