VANCOUVER, BC – November 4, 2019 – The Metro Vancouver* housing market is experiencing a fall pickup in home sale activity. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,858 in October 2019, a 45.4 per cent increase from the 1,966 sales recorded in October 2018, and a 22.5 per cent increase from the 2,333 homes sold in September 2019. Last month’s sales were 9.8 per cent above the 10-year October sales average. “Home … [Read more...] about Home buyer activity increases in October
Increased demand helps housing market reach balanced territory
VANCOUVER, BC – October 2, 2019 – Home buyer demand has returned to more historically typical levels in Metro Vancouver* over the last three months. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,333 in September 2019, a 46.3 per cent increase from the 1,595 sales recorded in September 2018, and a 4.6 per cent increase from the 2,231 homes sold in August 2019. Last month’s sales were 1.7 per cent below the 10-year … [Read more...] about Increased demand helps housing market reach balanced territory
Metro Vancouver housing market sees summer uptick in sales
VANCOUVER, BC – September 4, 2019 – Home buyer activity increased to more typical levels in Metro Vancouver* throughout the summer months. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,231 in August 2019, a 15.7 per cent increase from the 1,929 sales recorded in August 2018, and a 12.7 per cent decrease from the 2,557 homes sold in July 2019. Last month’s sales were 9.2 per cent below the 10-year August sales … [Read more...] about Metro Vancouver housing market sees summer uptick in sales
Home sales increase in July
VANCOUVER, BC – August 2, 2019 – Home buyer demand picked up across Metro Vancouver* last month, making July, a traditionally quieter month in real estate, the second highest selling month so far this year. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,557 in July 2019, a 23.5 per cent increase from the 2,070 sales recorded in July 2018, and a 23.1 per cent increase from the 2,077 homes sold in June 2019. Last month’s sales … [Read more...] about Home sales increase in July
Housing supply up, home sales and prices down in June
VANCOUVER, BC – July 3, 2019 –With home buyer demand below long-term historical averages in June, the supply of homes for sale continued to accumulate 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 per cent decrease from the 2,425 sales recorded in June 2018 and a 21.3 per cent decrease from the 2,638 homes sold in May 2019. Last month’s sales were 34.7 per cent below the 10-year … [Read more...] about Housing supply up, home sales and prices down in June
Liability for strata insurance deductibles
Many strata owners do not know they may be personally liable to reimburse their strata corporation for its insurance deductible, the portion of the loss the insured must pay in an insurance claim, which can be many thousands of dollars. The British Columbia Law Institute's formidable committee of strata experts (the "Committee") recently recommended changes to the Strata Property Act, which would require most owners to insure themselves against this liability.1 The Committee … [Read more...] about Liability for strata insurance deductibles
May sees modest increase in home sales while housing supply reaches five-year high
VANCOUVER, BC – June 4, 2019 – Monthly *Metro Vancouver(1) home sales eclipsed 2,000 for the first time this year in May, although home buyer demand remains below historical averages. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,638 in May 2019, a 6.9 per cent decrease from the 2,833 sales recorded in May 2018, and a 44.2 per cent increase from the 1,829 homes sold in April 2019. Last month’s sales were 22.9 per … [Read more...] about May sees modest increase in home sales while housing supply reaches five-year high
31 ways home buyers, sellers and owners can save money
Are you looking to save money? We can help! Here's 31 ways BC home buyers, sellers, and owners can save money. 1. BC Property Transfer Tax (PTT) First-Time Home Buyers’ Program Qualifying first-time buyers may be exempt from paying the PTT of one per cent on the first $200,000 and two per cent on the remainder of the purchase price of a resale home priced up to $500,000. There is a proportional exemption for homes priced between $500,000 and $525,000. At $525,000 and above exemption is … [Read more...] about 31 ways home buyers, sellers and owners can save money
Reduced demand and increased supply remain the trend across Metro Vancouver’s housing market
VANCOUVER, BC – May 2, 2019 – Decreased demand continues to allow the supply of homes for sale to accumulate across the Metro Vancouver* housing market. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,829 in April 2019, a 29.1 per cent decrease from the 2,579 sales recorded in April 2018, and a 5.9 per cent increase from the 1,727 homes sold in March 2019. Last month’s sales were 43.1 per cent below the 10-year April sales … [Read more...] about Reduced demand and increased supply remain the trend across Metro Vancouver’s housing market