News: Vancouver Real Estate Market
With home buyer demand below long-term historical averages in June, the supply of homes for sale continued to grow in Metro Vancouver.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,077 in June 2019, a 14.4% decrease from the 2,425 sales recorded in June 2018. Last month's sales were 34.7% below the 10-year June sales average, the lowest total for the month since 2000.
"We're continuing to see an expectation gap between home buyers and...
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Metro Vancouver home sales exceed 2,000 for the first time in 2019, while buyer demand remains below averages.
The Real Estate Board of Greater Vancouver (REBGV) reports residential sales in Metro Vancouver area totaled 2,638 in May 2019, a 44.2% increase from the 1,829 homes sold in April 2019.
"High home prices and mortgage qualification issues caused by the federal government’s B20 stress test remain significant factors behind the reduced demand that the market is experiencing today," Ashley...
photo by Aditya Chinchure
Decreased demand continues to allow the supply of homes for sale to accumulate across the Metro Vancouver* housing market.
Last month’s sales were 43.1% below the 10-year April sales average.
"Government policy continues to hinder home sale activity. The federal government’s mortgage stress test has reduced buyers’ purchasing power by about 20%, which is causing people at the entry-level side of the market to struggle to secure financing," Ashley Smith,...
Metro Vancouver home sales were at the lowest levels seen in March in more than 3 decades.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales totalled 1,727 in March 2019, a year over year decrease of 31.4%.
Last month’s sales were 46.3% below the 10-year March sales average, the lowest total for the month since 1986.
"Housing demand today isn’t aligning with our growing economy and low unemployment rates. The market trends we’re seeing are largely...
The British Columbia Real Estate Association (BCREA) released 2016 First Quarter Housing Forecast Update today.
Multiple Listing Service® (MLS®) residential sales in the province are forecast to edge back 6.2 per cent to 96,100 units this year, after reaching 102,517 units in 2015. Strong consumer demand is expected to push MLS® residential sales up by 2 per cent to 98,000 units in 2017.
Housing demand in the province is being supported by a relatively robust economy,...
Canada’s residential real estate market showed strong growth in the fourth quarter of 2015, led by hot Vancouver and Toronto markets according to the Royal LePage House Price Survey and Market Survey Forecast released today. Looking forward to 2016, Royal LePage expects continued price increases in most markets, but not at the pace that has been the recent norm. Instead, the national real estate market is expected to slow later this year, principally due to the effects of a dampened economy...
Vancouver's booming real estate industry is being targeted in a federal money-laundering audit that could potentially lead to massive fines and jail time for realtors.
Ottawa's increased examination of Vancouver real estate deals has been under way for several months and has been revealed in a Province investigation that obtained rare internal data and risk-analysis reports from Canada's financial intelligence unit, Fintrac.
Documents obtained under access to information...
Part of Vancouver's new River District, One Town Centre will consist of a 19-storey residential tower, a townhome and retail podium, a midrise residential structure, and CLUB CENTRAL amenities building.
- All elements are distinct yet complementary, creating a cohesive architectural form • Facades feature metal cladding and glass elements that reflect a modern interpretation of the area’s industrial heritage
- The quality concrete buildings feature highly sustainable...
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