News: Vancouver Real Estate Market

Royal LePage revises Canadian home price forecast upwards to 2.3% by year-end 2020, as low rates and pent-up demand face limited housing supply.

What does this mean for Greater Vancouver?

In the second quarter, the aggregate price of a home in Greater Vancouver increased by 1.9% year-over-year to $1,109,069. Based on housing type, the median price of a standard two-storey home in Greater Vancouver increased by 3.7% year-over-year to $1,455,027 in the second quarter. During the same period, the median...

The BC Temporary Rental Supplement (BC-TRS) Program aims at offering up to $500 a month to assist renters and landlords during the COVID-19 pandemic. This is part of the province's $5 billion action plan and payments are made directly to the landlords of eligible households. Tenants should inform their landlords that they are applying for the BC-TRS.

What do you need to know about the program?

• The program will be a temporary rental supplement for April, May and June 2020.
• Applicants will only have...

The beginning of March saw a steady buyer demand in Metro Vancouver's housing market and a levelling off of activity as the month went on and concerns about the COVID-19 outbreak intensified.

According to the Real Estate Board of Greater Vancouver (REBGV), residential home sales in the region totalled 2,524 in March 2020, a 46.1% increase from the 1,727 sales recorded in March 2019, and a 17.4% increase from the 2,150 homes sold in February 2020.

Sales from last month were 19.9% below the 10-year...