Rising Mortgage Rates to Slow BC Housing Market in 2023
Posted on Sep 08, 2022 in Market Update
The British Columbia Real Estate Association (BCREA) released its 2022 Third Quarter Housing Forecast Update today.Multiple Listing Service® (MLS®) residential sales in BC are forecast to decline 34.4 per cent from a record high 2021 to 81,900 units this year. In 2023, MLS® residential sales are forecast to fall an additional 5 per cent to 77,790 u...
Greater Vancouver Real Estate Statistics - August 2022
Posted on Sep 02, 2022 in Market Update
Metro Vancouver’s housing market sees fewer home buyers and sellers in August
Metro Vancouver’s housing market is experiencing a quieter summer season marked by reduced sale and listing activity.The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,870 in August 2022, a 40.7 per cent decrease...
BC Home Sales Continue to Slow in July
Posted on Aug 13, 2022 in Market Update
The British Columbia Real Estate Association (BCREA) reports that a total of 5,572 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in July 2022, a decrease of 42.4 per cent from July 2021. The average MLS® residential price in BC was $923,449, a 3.6 per cent increase from $891,376 recorded in July 2021. Total sales doll...July 2022 - Vancouver Real Estate Statistics
Posted on Aug 03, 2022 in Market Update
Home buyer demand continues to ease across Metro Vancouver
Metro Vancouver’s housing market has entered a new cycle marked by quieter home buyer demand and a gradual rise in the supply of homes for sale.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,887 in July 2022, a 43.3 per cent de...
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,887 in July 2022, a 43.3 per cent de...
House Price Decline Accelerated in June
Posted on Jul 16, 2022 in Market Update
Statistics released today by the Canadian Real Estate Association (CREA) show that the slowdown that began in March in response to higher interest rates has broadened. Home sales recorded over Canadian MLS® Systems fell by 5.6% between May and June 2022, taking second-quarter sales down sharply (see chart below). The actual (not seasonally adjusted...High Mortgage Rates Keeping Potential Buyers Sidelined
Posted on Jul 13, 2022 in Market Update
The British Columbia Real Estate Association (BCREA) reports that a total of 7,136 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in June 2022, a decrease of 35.7 per cent from June 2021. The average MLS® residential price in BC was $951,105, a 4.6 per cent increase from $909,657 recorded in June 2021. Total sales doll...