Prices continue rising across Metro Vancouver as home buyer confidence returns
Posted on May 02, 2023
With listing activity remaining below historical norms, home sales in Metro Vancouver have mounted a surprising comeback, rising near levels seen last spring, before eight consecutive interest rate hikes eroded borrowing power and brought home sales activity down along with it. The Real Estate Board of Greater Vancouver (REBGV) reports that reside...
Sales and dollar volumes in the Lower Mainland's commercial real estate market hold steady in 2022 despite higher borrowing costs
Posted on Apr 03, 2023
Sales activity and dollar volumes in the Lower Mainland’s commercial real estate market held steady in 2022, despite the challenging headwinds brought about by the highest borrowing costs seen in over ten years. There were 2,116 commercial real estate sales in the Lower Mainland in 2022, a 22.9 per cent decrease from 2,743 sales in 2021, according...
Below average home sales allow inventory to inch upwards
Posted on Mar 02, 2023
February listing data show a continued reluctance among prospective home sellers to engage in Metro Vancouver’s housing market, leading to below-average sales activity. With sales remaining well-below historical norms, the number of available homes for sale in the region have continued inching upwards. The Real Estate Board of Greater Vancouver...
Rising mortgage rates brought uncertainty and caution to Metro Vancouver’s housing market in 2022
Posted on Jan 06, 2023
After seeing record sales and prices during the pandemic, Metro Vancouver’s* housing market experienced a year of caution in 2022 due to rising borrowing costs fueled by the Bank of Canada’s ongoing battle with inflation. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 28,903 in 2022, a...
While typically a quiet month of market activity based on seasonal patterns, November home sale and listing totals lagged below the region’s long-term averages.
Posted on Nov 03, 2022
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,614 in November 2022, a 52.9 per cent decrease from the 3,428 sales recorded in November 2021, and a 15.2 per cent decrease from the 1,903 homes sold in October 2022.Last month’s sales were 36.9 per cent below the 10-year November sales a...
Inflation, rising interest rates create caution across Metro Vancouver’s housing market
Posted on Oct 04, 2022