June 2022 - Market Statistics
Posted on Jul 07, 2022 in Statistics
The summer season has begun and we are seeing dramatic changes in the real estate market! Over the last month, housing inventories and interest rates have both increased. Looking at our graphic above, all the arrows are pointing in the direction that are conducive to buyers:
Listing inventory is up so buyers now have many more options to choose from...
May 2022 - Market Statistics
Posted on Jun 07, 2022 in Statistics
The market continued to move at a slower pace in May while housing inventory increased. Many buyers are choosing to wait on the sidelines in hopes that the market will ease off further. While this might be a reasonable approach, it is hard to predict market sentiment. This more "balanced" market does provide a welcome relief and an opportunity for...
April 2022 - Market Statistics
Posted on May 09, 2022 in Statistics
The month of April was a turning point for many buyers. April brought the expected increase in interest rates, the government bringing in the proposed 2022 budget that introduced a 2-year ban on foreign buyers and an anti-flipping tax, and continuously increasing inflation that has skyrocketed the cost of building new homes.
April statistics show a...
April statistics show a...
March 2022 - Market Statistics
Posted on Apr 08, 2022 in Statistics
We saw a significant increase in new listings on the market in March and some sectors showed signs of a slowing down or, rather, normalizing. It will be interesting to see what the anticipated "cooling-off" period will look like and how it will affect the market. We will be sending more information about it in a separate newsletter.
REBGV: CALMER TH...
February 2022 - Market Statistics
Posted on Mar 08, 2022 in Statistics
Last month, we saw an increase in the number of listings but multiple offers continued in many areas and property classes. Interestingly, in the last week or so, the number of offers on any given property has begun to dwindle and there are even properties that didn't receive any offers on their "offer" date. This is based on our own observations an...
January 2022 - Market Statistics
Posted on Feb 07, 2022 in Statistics
LOW SUPPLY KEEPS UPWARD PRESSURE ON HOME PRICES ACROSS METRO VANCOUVER’S HOUSING MARKET
The first month of 2022 saw home sales come down from last year’s record-setting pace, while low supply continued to cause home prices to edge higher across Metro Vancouver.
“Our listing inventory on MLS® is less than half of what would be optimal to begin the yea...
The first month of 2022 saw home sales come down from last year’s record-setting pace, while low supply continued to cause home prices to edge higher across Metro Vancouver.
“Our listing inventory on MLS® is less than half of what would be optimal to begin the yea...