Brendan Connolly's posts

VANCOUVER, BC – May 2, 2023 – With listing activity remaining below historical norms, home sales in Metro Vancouver1 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 residential home sales in the region totalled 2,7412 in April 2023, a 16.5 per cent decrease from the 3,281 sales recorded … [Read more...] about Prices continue rising across Metro Vancouver as home buyer confidence returns

VANCOUVER, BC – February 2, 2023 – Inventory remains low in Metro Vancouver* while home sales dipped well below monthly historical averages in January. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,022 in January 2023, a 55.3 per cent decrease from the 2,285 sales recorded in January 2022, and a 21.1 per cent decrease from the 1,295 homes sold in December 2022. Last month’s sales were 42.9 per cent below the 10-year January … [Read more...] about Home sales decline below long-term averages and inventory remains low to start 2023

VANCOUVER, BC – January 4, 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 34.3 per cent decrease from the 43,999 sales recorded in 2021, and a 6.6 per cent decrease from the 30,944 homes … [Read more...] about Rising mortgage rates brought uncertainty and caution to Metro Vancouver’s housing market in 2022

VANCOUVER, BC – November 2, 2022 – Home sale activity across the Metro Vancouver* housing market continued to trend well below historical averages in October. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,903 in October 2022, a 45.5 per cent decrease from the 3,494 sales recorded in October 2021, and a 12.8 per cent increase from the 1,687 homes sold in September 2022. Last month’s sales were 33.3 per cent below the 10-year … [Read more...] about Inflation, rising interest rates create caution in Metro Vancouver’s housing market

Vancouver, B.C. – October 4, 2022 – Home sellers were more active in Metro Vancouver’s* housing market in September while home buyer demand remained below the region’s long-term averages. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,687 in September 2022, a 46.4 per cent decrease from the 3,149 sales recorded in September 2021, and a 9.8 per cent decrease from the 1,870 homes sold in August 2022. Last month’s sales were … [Read more...] about Metro Vancouver saw more home sellers and fewer buyers in September