News: Vancouver Real Estate Market

After months of tracking approximately 20% below the ten-year seasonal average, Metro Vancouver home sales surged more than 30% year-over-year in October.

The Greater Vancouver REALTORS® (GVR) reports that residential sales registered on the Multiple Listing Service® (MLS®) in the region totalled 2,632 in October 2024, a 31.9% increase from the 1,996 sales recorded in October 2023. This was 5.5% below the 10-year seasonal average (2,784).

“Typically, reductions to mortgage rates boost demand,...

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...

Metro Vancouver home sales registered on the MLS® remained below seasonal and historical averages in June. With reduced competition among buyers, inventory has continued to accumulate to levels not seen since the spring of 2019.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totaled 2,418 in June 2024, a decrease of 19.1% from the 2,988 sales recorded in June 2023. This was 23.6% below the 10-year seasonal average (3,166).

“The June data continued a trend we’ve been...

The number of transactions on the Multiple Listing Service® (MLS®) saw a decline in May compared to the usual for this period in Metro Vancouver, contributing to the ongoing accumulation of homes available for sale, with over 13,000 homes now actively listed on the MLS® in the region.

The Greater Vancouver REALTORS® (GVR) reported that residential sales in the region totaled 2,733 in May 2024, marking a 19.9% decrease from the 3,411 sales recorded in May 2023. Last month’s sales were also down 19.6%...

The Canadian government has recently announced a two-year extension to the ban on foreign ownership of Canadian housing. This move reflects the government's commitment to ensuring that Canadians have access to affordable housing, promoting stability in the real estate market, and addressing concerns about the impact of foreign investment on housing prices.

The decision to extend the ban comes in the wake of growing concerns about the role of foreign investors in the Canadian real estate market. In...

Metro Vancouver's* housing market is experiencing a quieter summer season marked by reduced sale and listing activity.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,870 in August 2022, a 40.7 per cent decrease from the 3,152 sales recorded in August 2021, and a 0.9 per cent decrease from the 1,887 homes sold in July 2022.

Last month's sales were 29.2 per cent below the 10-year August sales average.

"With inflationary pressure and interest...