Holding steady for the month of May. It’s once again time for our monthly market update for areas covered by the Real Estate Board of Greater Vancouver (REBGV)!
As stated in their latest media release, reduced demand and increased supply remain the trend across Metro Vancouver’s housing market.
The board reports that residential home sales in the region totaled 1,829 in April 2019, a 29.1% decrease from the 2,579 sales recorded in April 2018, and a 5.9% increase from the 1,727 homes sold in March 2019.
Last month’s sales were 43.1% below the 10-year April sales average.
As noted by Ashley Smith, REBGV President,
“Government policy continues to hinder home sale activity. The federal government’s mortgage stress test has reduced buyers’ purchasing power...
And in the blink of an eye, the first quarter of the year is behind us. Meanwhile, it’s once again time for our monthly market update for areas covered by the Real Estate Board of Greater Vancouver (REBGV)!
According to REBGV’s latest news release, Metro Vancouver home sales dipped to the lowest levels seen in March in more than three decades.
The board reports that residential home sales in the region totalled 1,727 in March 2019, a 31.4% decrease from the 2,517 sales recorded in March 2018, and a 16.4% increase from the 1,484 homes sold in February 2019.
As noted by REBGV president Ashley Smith,
“Housing demand today isn’t aligning with our growing economy and low unemployment rates. The market trends we’re seeing are largely policy induced.
For three years,...
Spring Forward! It’s time for our monthly housing market stats for areas covered by the Real Estate Board of Greater Vancouver (REBGV)!
According to REBGV’s latest release, the Metro Vancouver housing market saw increased supply from home sellers and below average demand from home buyers in February, and last month’s sales were 42.5% below the 10-year February sales average.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 11,590, a 48.2% increase compared to February 2018 (7,822) and a 7.2% increase compared to January 2019 (10,808).
For all property types, the sales-to-active listings ratio for February 2019 is 12.8%.
REBGV President Phil Moore notes,
“For much of the past four years, we’ve been in a sellers’ market. Conditions...
Once again, it’s that time of the month to check on how the market has been doing. Here are the latest housing market stats for areas covered by the Real Estate Board of Greater Vancouver (REBGV)!
According to REBGV’s most recent press release, home listings continue to increase across all housing categories in the Metro Vancouver housing market while home buyer activity remains below historical averages.
They have cited that January 2019 sales were 36.3% below the 10-year January sales average and were the lowest January-sales total since 2009.
Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12% mark for a sustained period, while home prices often experience upward pressure when it surpasses 20% over several months.
Starting fresh! Here are the latest housing market stats for areas covered by the Real Estate Board of Greater Vancouver (REBGV)!
According to the REBGV’s latest press release, Metro Vancouver home sales in 2018 were the lowest annual total in the region since 2000.
They are reporting that in 2018, sales of detached, attached, and apartment properties reached 24,619 on the MLS, which was a 31.6% decrease compared to the 35,993 recorded in 2017. 2018’s sales total was also 25% below the region’s 10-year sales average.
For the month of December, REBGV also reports that residential home sales in the region totaled 1,072, a 46.8% decrease from the 2,016 sales the previous year, and a 33.3% decrease from November 2018 when 1,608 homes sold. December 2018 sales were also 43.3% below the...
Here are the latest housing market stats for areas covered by the Real Estate Board of Greater Vancouver (REBGV)!
According to their most recent press release, home buyer demand within the Metro Vancouver housing market still remains below long-term historical averages. November 2018 sales was the lowest sales for the month since 2008, and were also 34.7% below the 10-year November sales average.
REBGV president, Phil Moore has noted,
“Home buyers have been taking a wait-and-see approach for most of 2018. This has allowed the number of homes available for sale in the region to return to more typical historical levels. This activity is helping home prices edge down, across all property types, from the record highs we’ve experienced over the last year.”
He also adds,
As we approach the last several weeks of the year, the Real Estate Board of Greater Vancouver (REBGV) has reported that home sales across Metro Vancouver is still below long-term historical averages during October 2018.
In their most recent press release, Phil Moore, REBGV president, stated:
“The supply of homes for sale today is beginning to return to levels that we haven’t seen in our market in about four years. For home buyers, this means you have more selection to choose from. For sellers, it means your home may face more competition, from other listings, in the marketplace.”
He has also noted that home prices for different housing types have been edging down between 3% to 5% since June. According to him, this is “providing a little relief for those looking to buy compared...
As we welcome the final quarter of the year, here are the latest market trends in areas covered by the Real Estate Board of Greater Vancouver (REBGV).
According to REBGV’s latest press release, September 2018 saw more supply and less demand across the Metro Vancouver housing market. It states that “the supply of homes for sale continued to increase… while home buyer demand remained below typical levels for this time of year.”
In fact, last month’s sales are reported to be 36.1% below the 10-year September sales average.
According to REBGV president-elect Ashley Smith:
“Fewer home sales are allowing listings to accumulate and prices to ease across the Metro Vancouver housing market. There’s more selection for home buyers to choose from today. Since spring,...
Here are this month’s market updates for the areas covered by the Real Estate Board of Greater Vancouver (REBGV).
It’s looking like the REBGV housing market is still on a downswing, with reduced demand across all housing types.
According to REBGV’s latest media release, numbers are also showing that home buyer demand is still lingering below historical averages in the month of August.
Here’s what Board President Phil Moore has said about it:
“Home buyers have been less active in recent months and we’re beginning to see prices edge down for all housing types as a result. Buyers today have more listings to choose from and face less competition than we’ve seen in our market in recent years. With fewer buyers active in the market, benchmark prices across all three housing...
Looks like we’re opening summer with more news of slowness for the month of July within the markets covered by the Real Estate Board of Greater Vancouver, or REBGV.
According to REBGV’s latest press release, July’s residential housing sales in Metro Vancouver reached their lowest levels for that month since the year 2000.
Phil Moore, REBGV President, has noted that,
“With fewer buyers active in today’s market, we’re seeing less upward pressure on home prices across the region… This is most pronounced in the detached home market, but demand in the townhome and apartment markets is also relenting from the more frenetic pace experienced over the last few years.”
He also added that “Summer is traditionally a quieter time of year in real estate. This is particularly...