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 decrease from the 3,326 sales recorded in July 2021, and a 22.8 per cent decrease from the 2,444 homes sold in June 2022.

Last month’s sales were 35.2 per cent below the 10-year July sales average.

“Home buyers are exercising more caution in today’s market in response to rising interest...

Spacious 1 Bed Home

Excellent Condition

Priced at $448,800

Click here for more... 

Enjoy the peace & tranquility this area has to offer. Welcome to UniverCity at SFU, Vancouver premier lifestyle neighborhood. This 1 bed, 1 bath 624sqft home, located in Novo II; a concrete, rental and pet friendly building will not disappoint. Perfect for investors, first time buyers, students & everyone else in between. Features: an abundance of natural light, an open layout, granite counters, SS appliances, laminate floors, newer front load washer & dryer & covered balcony. The large bedroom...

Highlights:

• National home sales fell by 5.6% on a month-over-month basis in June.
• Actual (not seasonally adjusted) monthly activity came in 23.9% below the June record set in 2021.
• The number of newly listed properties was up 4.1% month-over-month.
• The MLS® Home Price Index (HPI) edged down 1.9% month-over-month but was still up 14.9% year-over-year.
• The actual (not seasonally adjusted) national average sale price posted a 1.8% year-over-year decline in June.

Is housing affordable in Canada?

Not according to the data. A new survey shows that approximately 9 million Canadians are settling to rent forever or completely giving up on the idea of homeownership.

This comes shortly after RBC Economics released a report showing that housing affordability in Canada is at its lowest in 31 years and hot on the heels of multiple mortgage rate hikes – making homeownership even more unaffordable.

In the new ‘Generation Rent’ survey, 29% of Canadians – approximately 9 million adults (18+) – have either given up on the homeownership dream...

With interest rates and housing supply increasing, Metro Vancouver* home buyers are operating in a changing marketplace to begin the summer season.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,444 in June 2022, a 35 per cent decrease from the 3,762 sales recorded in June 2021, and a 16.2 per cent decrease from the 2,918 homes sold in May 2022.

Last month’s sales were 23.3 per cent below the 10-year June sales average.

“Home buyers have more selection to choose from and more time to make decisions than they did over the...

I couldn’t have done it without the support and referrals from my amazing Clients. Thank You, I am truly grateful!

Top Floor Unit

12’ Ceilings, 2 Parking & Locker

Priced at $568,800

Enjoy bright, south east exposure from this penthouse home located in Harmony At The Highlands in UniverCity; Vancouver's premier lifestyle neighborhood! Features: soaring 12’ ceilings, laminate floors, open plan, stainless appliances & breakfast bar, plenty of storage space & cozy gas F/P. Excellent sized master w/nook space, ensuite with soaker & walk-in closet, well sized 2nd bed & 3pc main bath complete this home. Harmony is a rental and pet friendly complex with gym facilities. Bonus: 2 PARKING...

Spacious 1 Bed Home

Excellent Condition

Priced at $458,800

 Click here for more...

Enjoy the peace & tranquility this area has to offer. Welcome to UniverCity at SFU, Vancouver premier lifestyle neighborhood. This 1 bed, 1 bath 624sqft home, located in Novo II; a concrete, rental and pet friendly building will not disappoint. Perfect for investors, first time buyers, students & everyone else in between. Features: an abundance of natural light, an open layout, granite counters, SS appliances, laminate floors, newer front load washer & dryer & covered balcony. The large bedroom...

Top Floor Unit
12’ Ceilings, 2 Parking & Locker
Priced at $568,800

Click here for more...

Enjoy bright, south east exposure from this penthouse home located in Harmony At The Highlands in UniverCity; Vancouver's premier lifestyle neighborhood! Features: soaring 12’ ceilings, laminate floors, open plan, stainless appliances & breakfast bar, plenty of storage space & cozy gas F/P. Excellent sized master w/nook space, ensuite with soaker & walk-in closet, well sized 2nd bed & 3pc main bath complete this home. Harmony is a rental and pet friendly complex with gym facilities....

The WURI rankings measure how universities contribute to society and highlight creative and innovative approaches to university research and education.

“I am so proud of the creativity and ambition that our students, faculty and staff demonstrate each day, and excited that their groundbreaking innovations and entrepreneurial spirit have been recognized by WURI,” says SFU President Joy Johnson. “SFU is doing incredible work in the innovation space, from training students for jobs of the future to partnering with industry and communities to mobilize knowledge that makes a positive...

Highlights

• Bond markets expect very aggressive Bank of Canada
• Is Canada in a recession?
• Bank of Canada tightening aggressively now, only to cut rates in 2024?

In BCREA’s last Mortgage Rate Forecast, we anticipated Canadian 5-year fixed mortgage rates would reach 4 per cent later this year. Instead, rates have already sling-shotted to 4.69 per cent as elevated inflation continues to drive interest rate expectations.

Canadian bond markets – and Canadian mortgage rates in turn – have already priced in significant Bank of Canada tightening. The 2-year Canadian bond yield, a good indicator...

Humbled and grateful for your trust and confidence in my ability to assist you. 

The British Columbia Real Estate Association (BCREA) reports that a total of 8,214 residential unit sales were recorded by the Multiple Listing Service® (MLS® ) in May 2022, a decrease of 35.1 per cent from May 2021. The average MLS® residential price in BC was $1 million, a 9.3 per cent increase from $915,392 recorded in May 2021. Total sales dollar volume was $8.2 billion, a 29.1 per cent decline from the same time last year.

“Canadian mortgage rates continue to climb,” said BCREA Chief Economist Brendon Ogmundson. “The average 5- year fixed mortgage rate reached...

Welcome to Veritas by Polygon! Unique opportunity to own this top floor, stylish one bedroom two-level loft apartment. Located on a quiet street steps away from transit, grocery stores, dining and banks. 17'9 tall ceilings with ample natural light throughout the day. Veritas enjoys immediate access to Simon Fraser University - Canada's top comprehensive university and a setting rich in culture and lifestyle opportunities. Enjoy access to SFU amenities as a UniverCity resident within one of the most sought after communities in Greater Vancouver. Or simply keep it as investment income with high rental...

Top Floor Unit

12’ Ceilings, 2 Parking & Locker

Priced at $574,800

Click here for more...

Enjoy bright, south east exposure from this penthouse home located in Harmony At The Highlands in UniverCity; Vancouver's premier lifestyle neighborhood! Features: soaring 12’ ceilings, laminate floors, open plan, stainless appliances & breakfast bar, plenty of storage space & cozy gas F/P. Excellent sized master w/nook space, ensuite with soaker & walk-in closet, well sized 2nd bed & 3pc main bath complete this home. Harmony is a rental and pet friendly complex with gym facilities....

After reaching record-setting levels in 2021, home sale activity has returned to more typical seasonal levels in Metro Vancouver* this spring due, in large part, to rising interest rates.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,918 in May 2022, a 31.6 per cent decrease from the 4,268 sales recorded in May 2021, and a 9.7 per cent decrease from the 3,232 homes sold in April 2022.

Last month’s sales were 12.9 per cent below the 10-year May sales average.

“With interest rates rising, home buyers are taking more time...

Thankful & Grateful to my clients, for the continued support & trust.

Excellent Condition

Jr. 1 Bed, 1 Bath, 407sqft

Priced at $388,800

Click here for more... 

Investor, student and first-time buyer alert! Excellent condition, nothing to do but move in. Located in Highland House, a rental friendly building, this Jr.1bed/1bath/407sqft home features: laminate floors, an efficient floor plan, well-sized kitchen w/stainless apps, contemporary styling throughout & a generous covered balcony; perfect for BBQs. The bedroom area can accommodate queen size bed. Bonus: locker & parking. Walk to: transit, campus, childcare, shopping, indoor/outdoor rec. & a...

Incredibly private and spacious 2 bedroom apartment that overlooks the greenbelt! Welcome home to Harmony, a unique complex of homes nestled between greenery at the top of SFU. Perfectly positioned close to shops, cafes, walking trails and the SFU campus. If you've been dreaming of that condo lifestyle but don't want to compromise location, privacy or square footage this home is for you. Move in ready, meticulously kept and one of the best layouts available. Call today for your private tour of this incredible home.

Listing offered by: Engel & Volkers Vancouver