Posted on
January 14, 2013
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) reports that a total of 67,637 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC during 2012, a decline of 11.8 per cent compared to 2011. Total sales dollar volume declined 19.1 per cent to $34.8 billion over the same period. The annual average MLS® residential price in the province was $514,836 in 2012, down 8.3 per cent from 2011.
“A notable pullback in consumer demand in Vancouver and the Fraser Valley during 2012 was more than enough to offset&nbs...
Posted on
January 14, 2013
by
Hafez Panju
The Greater Vancouver housing market experienced below average home sale totals, typical home listing activity and modest declines in home prices in 2012.
The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2012 reached 25,032, a 22.7 per cent decline from the 32,387 sales recorded in 2011, and an 18.2 per cent decrease from the 30,595 residential sales in 2010. Last year’s home sale total was 25.7 per cent below the ten-year average for annual Multiple Listing Service® (MLS®) sales in the region.
The number...
Posted on
December 4, 2012
by
Hafez Panju
Over the past six months, the Greater Vancouver housing market has seen a reduction in the number of homes listed for sale, a gradual moderation in home prices and a decrease in property sales compared to historical averages.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 1,686 on the region’s Multiple Listing Service® (MLS®) in November, a 28.6 per cent decline compared to the 2,360 sales in November 2011 and a 12.7 per cent decline compared to the 1,931 home sales in October 2012.
...
Posted on
November 27, 2012
by
Hafez Panju
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Consumers have a new tool to help navigate the complexities and financial implications of purchasing a home. Earlier today, The Canadian Real Estate Association (CREA), and the Financial Consumer Agency of Canada (FCAC) launched the Homebuyers’ Road Map. The Road Map is available on CREA’s website at crea.ca.
In a recent Nanos Research survey1 for CREA, more than 63% of Canadians indicated a “major need” for more information about the financial details of buying a home. That figure rose to 70% for respondents between the ages of 18 and 29.
“As REALTORS®, we appreciate that young Canadians and first-time homebuyers are craving more information about the financial details required to purchase a home. The purpose of the Homebuyers’ Road Map is to empower consumers with the knowledge, skills and confidence to make responsible financial decisions about one of the largest purchases they will ever make,” said Gary Simonsen, CREA’s CEO. “We’re proud to have collaborated with the Financial Consumer Agency of Canada to develop this guide.”
Launched to coincide with Financial Literacy Month, the Homebuyers’ Road Map is a guide which will help Canadians better understand the home buying process as well as appreciate the importance of negotiating with lenders and researching government programs.
“Helping Canadians plan for the future, make sound decisions and ensure the financial security of their loved ones are essential in this increasingly complex world,” said Shelly Glover, Parliamentary Secretary to the Minister of Finance.
“Buying a home involves a number of steps and many buyers need some help in understanding the various options available. In order to make the decision that matches their own circumstances and goals, consumers need some money know-how — which is what financial literacy really is,” added Ursula Menke, Commissioner of the Financial Consumer Agency of Canada (FCAC). “This guide will help people make the right decision, and adds to the information on mortgages, loans and banking available on our website, itpaystoknow.gc.ca.”
To access the Homebuyers’ Road Map, and to find out how a REALTOR® can help, please visit crea.ca and click the Buying or Selling? tab.
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ABOUT CREA
The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 106,000 REALTORS® working through more than 100 real estate Boards and Associations.
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Posted on
November 25, 2012
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) reports that the dollar volume of homes sold through the Multiple Listing Service® (MLS®) in BC declined 14.6 per cent to $2.7 billion in October compared to the same month last year. A total of 5,276 MLS® residential unit sales were recorded over the same period, down 10 per cent from October 2011. The average MLS® residential price was $508,292, down 5.1 per cent from a year ago.
"While consumer demand was stronger in October on a provincial basis, home sales continue to trend below last year’s level,” said Cameron...
Posted on
November 2, 2012
by
Hafez Panju
Harmony at the Highlands
JUST SOLD
108 9329 University
Beautiful private garden setting facing the greenbelt in HARMONY by Polygon. Very spacious patio, bright rooms, openconcept. 2 bedrooms and 2 bathrooms on opposite sides of the suite for privacy, in-suite laundry, gas stove, gas fireplace,beautiful cork floors throughout the suite. 5 minute walk to Simon Fraser University Campus. Bus and shopping only a fewsteps away. Pets and rentals allowed with some restrictions.
Posted on
November 2, 2012
by
Hafez Panju
The Greater Vancouver housing market saw a slight increase in the number of home sales, a slight reduction in the number of listings, and a slight decrease in home prices in October compared to the summer months. With those changes, the sales-to-active-listings ratio increased to 11 per cent in October from 8 per cent in September.
The Real Estate Board of Greater Vancouver (REBGV) reported 1,931 residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) in October, a 16.7 per cent decline compared to the 2,317...
Posted on
October 16, 2012
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) reports that the dollar volume of homes sold through the Multiple Listing Service® (MLS®) in BC declined 28.5 per cent to $2.2 billion in September compared to the same month last year. A total of 4,539 MLS® residential unit sales were recorded over the same period, down 24.3 per cent from September 2011. The average MLS® residential price was $494,213, down 5.6 per cent from a year ago.
“Stricter high-ratio mortgage regulation further exacerbated a moderating trend in consumer...
Posted on
October 9, 2012
by
Hafez Panju
The Vancouver Real Estate market is changing once again. It seems that not a day goes by that the media is not reporting something about real estate in Vancouver. As typical of media, fear sells! However, the statistics do not lie. We are in a changing market. Sales are off considerably in Vancouver since this time last year and although only marginally prices are lower also. Is the sky falling, clearly it is not. But from both a Buyers’ & Sellers’ perspective it is important to be mindful of market forces. Reality is the market has...
Posted on
October 2, 2012
by
Hafez Panju
The summer of 2012 drew to a close in September with home sale activity well below historical averages in the Greater Vancouver housing market.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 1,516 in September, a 32.5 per cent decline compared to the 2,246 sales in September 2011 and an 8.1 per cent decline compared to the 1,649 sales in August 2012.
September sales were 41.6 per cent below the 10-year September sales average of 2,597.
“There’s been a clear reduction in buyer demand in...
Posted on
September 18, 2012
by
Hafez Panju
Beautiful Views
Spacious Layout
Clean & Move-in Condition
Open House: Saturday September 22 from 12:00 to 2:00
300 9300 University Cr.
Burnaby, BC
SFU, UniverCity
Bright, spacious & extremely clean! This 3bed/2bath/1285sqft luxury concrete home, located in One University Cr., offers an excellent spacious layout, shows like new & is surrounded by beautiful nature trails. Features: East/West exposurewith large covered balcony offering City & lush forest views, rich hardwood floors, 9' ceilings throughout, good size closets in all 3 rooms, open kitchen with SS ...
Posted on
September 18, 2012
by
Hafez Panju
Unique 2 Level Condo with Rentable Suite
Prestigious One University Cresent
Open House Saturaday September 22 from 2:00 to 4:00
100 9320 University Cr.
Burnaby, BC
SFU, UniverCity
Rarely available! A stunning home w/bonus self-contained studio/flex space; perfect for home/office or supplemental income. This 1459sqft, 3bed/3bath/2level unit located in prestigious One University Cr. shows very well & is in excellentcondition. Features: East/West exposure, open concept plan, soaring 16' living & bedroom ceilings, spacious kitchen w/quartz counters & stainless apps, a cozy F/P &...
Posted on
September 17, 2012
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) reports that the dollar volume of homes sold through the Multiple Listing Service® (MLS®) in BC declined 25.4 per cent to $2.6 billion in August compared to the same month last year. A total of 5,337 MLS® residential unit sales were recorded over the same period, down 17.9 per cent from August 2011. The average MLS® residential price was $491,145, 9.0 per cent lower than a year ago.
"Consumer demand continued to trend lower in August," said Cameron Muir, BCREA Chief Economist. "Tighter mortgage credit conditions introduced...
Posted on
September 5, 2012
by
Hafez Panju
Home sale activity remained below long-term averages in the Greater Vancouver housing market in August.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 1,649 in August, a 30.7 per cent decline compared to the 2,378 sales in August 2011 and a 21.4 per cent decline compared to the 2,098 sales in July 2012.
August sales were the second lowest total for the month in the region since 1998 and 39.2 per cent below the 10-year August sales average of 2,711.
“Home sales this summer have been lower than...
Posted on
September 5, 2012
by
Hafez Panju
The Bank of Canada kept its key policy rate at 1 per cent on September 5th, 2012, where it has been held steady for two years. This marks the longest period since the 1950s that rates have been left unchanged.
The text accompanying the announcement was little changed from the July statement. This includes the bottom line that the Bank would still like its next move to be a rate hike, but that the timing and degree and any such decision would depend on whether global and domestic trends play out as expected in the months ahead.
Although the Bank expects the economic outlook to brighten, it identified...
Posted on
September 5, 2012
by
Hafez Panju
A large bubble of people in their prime home-buying years, coupled with an influx of immigrants, is poised to support Canada's housing market for the next decade, a major bank economist said Thursday.
Benjamin Tal of CIBC put out a report on Thursday in which he argued that Canada's population demographics are working in favour of the country's housing market.
Canada is facing a well-documented demographic pinch over the coming years, as Baby Boomers retire and seek to cash out their homes to finance their retirement. Experts have gotten increasingly concerned on the impact this boomer...
Posted on
September 5, 2012
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) released its 2012 Third Quarter Housing Forecast Update today.
BC Multiple Listing Service® (MLS®) residential sales are forecast to edge down 4 per cent to 73,400 units this year, before increasing 7.5 per cent to 78,900 units in 2013. Since 2009, MLS® residential sales in BC have ranged between 74,000 to 78,000 units. A record 106,300 MLS® residential sales were recorded in 2005.
"Despite more robust consumer demand in the Interior, fewer home sales in Vancouver will pull the BC total lower this year," said Cameron Muir, BCREA...
Posted on
August 2, 2012
by
Hafez Panju
Residential property sales in Greater Vancouver remained at a 10-year low in July, while the number of properties being listed for sale continued to edge down and prices remained relatively stable.
The Real Estate Board of Greater Vancouver (REBGV) reports that there were 2,098 residential property sales of detached, attached and apartment properties in July. That’s an 18.4 per cent decline compared to the 2,571 sales in July 2011 and an 11.2 per cent decline compared to the previous month’s 2,362 sales.
July sales were the lowest total for that month in the region since 2000. They...
Posted on
July 16, 2012
by
Hafez Panju
Exceptional Condition
Beautiful Courtyard View
Priced at $356,000
316 9339 University Cr.
Burnaby, BC
SFU, UniverCity
Enjoy peaceful sounds & serene fountain views! This pristine 2bed/2bath, 924sqft home offers a spacious layout, new carpets throughout, fresh paint & shows very well. Features: excellent room separation, open concept plan, stainless appliances, gas fireplace & large covered balcony. The excellent sized master has walk-in closet & ensuite. The second bedroom is well sized with plenty of closet space. Located in The Harmony, a rental and pet friendly,...
Posted on
July 12, 2012
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) reports that during the first half of 2012, BC residential sales dollar volume declined 17.1 per cent to $20.4 billion, compared to the same period last year. Residential unit sales dipped 9 per cent to 38,312 units, while the average Multiple Listing Service® (MLS®) residential price was 8.9 per cent lower at $533,681.
“The pace of home sales slowed during the first half of the year, ” said Cameron Muir, BCREA Chief Economist. “However, the downturn is likely to be temporary as population growth, persistently low mortgage rates and encouraging...
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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.