Canadians continue to grapple with the increased cost of living, and the Bank of Canada’s latest hike to interest rates this week will add more pressure to variable rate mortgage holders, as well as those looking to qualify for lending. While buyers who have secured a rate hold are anxious to make a purchase before it expires, some sellers have hit the pause button on listing their homes until economic conditions stabilize, further contributing to a lack of available inventory. Additional demand pressures...
News: Vancouver Real Estate MarketHOUSING MARKET SETS A STEADY, CALMER PACE TO BEGIN THE SUMMER SEASONWhile still elevated, home sale and listing activity in Metro Vancouver has eased back from the record-setting pace seen in March and April of this year. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,762 in June 2021, a 54% increase from the 2,443 sales recorded in June 2020, and an 11.9% decrease from the 4,268 homes sold in May 2021. Last month's sales were 18.4% above the 10-year June sales average. "Metro Vancouver's housing market... SALES ACTIVITY IN MARCH COMES TO A HALT DUE TO THE PANDEMIC
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Attached Homes, BC Home Sales, BCREA, British Columbia Real Estate, Covid-19 Housing Market Update, Detached Homes, Greater Vancouver, Home Owners, Housing Market Update, Interest Rates, Metro Vancouver, MLS, Multiple Listing Service, Provincial Housing Market, Real Estate Statistics, Residential Price, Residential Sales
In March 2020, the British Columbia Real Estate Association (BCREA), reported a total of 6,717 residential unit sales recorded by the Multiple Listing Service® (MLS®). This is a 17.2% increase from March 2019. The average MLS® residential price in BC was $789,548, a 15.1% increase from $685,592 recorded the previous year. The total sales dollar volume showed an increase of 35%, to $5.3 billion over 2019. "Provincial housing markets started the month very strong before the COVID-19 pandemic... |