VANCOUVER, BC - July 5, 2017 - The imbalance between supply and demand in the condominium market is creating home buyer competition across Metro Vancouver. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 3,893 in June 2017, an 11.5 per cent decrease from the 4,400 sales recorded in June 2016, an all-time record, and a decrease of 10.8 per cent compared to May 2017 when 4,364 homes sold. Last month’s sales were 14.5 per cent … [Read more...] about Demand for condominiums continues to outstrip supply

VANCOUVER, BC – April 4, 2017 – A shortage of residential property listings coupled with strong demand, particularly for condos and townhomes, continued to impact Metro Vancouver’s housing market in March. Residential property sales in the region totalled 3,579 in March 2017, a decrease of 30.8 per cent from the 5,173 sales recorded in record-breaking March 2016 and an increase of 47.6 per cent compared to February 2017 when 2,425 homes sold. Last month’s sales were 7.9 per cent above the … [Read more...] about Demand for homes continues to outpace supply in Metro Vancouver

VANCOUVER, BC - December 2, 2016 - Home buyer and seller activity remains near historical averages in the Metro Vancouver housing market. Residential home sales in the region totalled 2,214 in November 2016, a decrease of 0.9 per cent from the 2,233 sales recorded in October 2016 and a decrease of 37.2 per cent compared to November 2015 when 3,524 homes sold. Last month’s sales were 7.6 per cent below the 10-year sales average for the month. “While 2016 has been anything but a normal year … [Read more...] about Home sales and listings just below 10-year average

VANCOUVER, BC - November 2, 2016 - Reduced home sale and listing activity are changing market dynamics in communities across Metro Vancouver*. Residential property sales in the region totalled 2,233 in October 2016, a 38.8 per cent decrease from the 3,646 sales recorded in October 2015 and a 0.9 per cent decrease compared to September 2016 when 2,253 homes sold. Last month’s sales were 15 per cent below the 10-year October sales average. “Changing market conditions compounded by a … [Read more...] about Home sale and listing activity dip below historical averages in October

VANCOUVER, BC – October 4, 2016 - Metro Vancouver* home sales dipped below the 10-year monthly sales average last month. This is the first time this has occurred in the region since May 2014. Metro Vancouver home sales totalled 2,253 in September 2016, a decrease of 32.6 per cent from the 3,345 sales recorded in September 2015 and a decrease of 9.5 per cent compared to August 2016 when 2,489 homes sold. Last month’s sales were 9.6 per cent below the 10-year sales average for the … [Read more...] about Home buyers and sellers face changing market dynamics