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 sold in 2020.

Last year’s sales total was 13.4 per cent below the 10-year sales average. “The headline story in our...

The British Columbia Real Estate Association (BCREA) reports that a total of 4,512 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in November 2022, a decrease of 50.8 per cent from November 2021 and about 30 per cent below a historical average November. The average MLS® residential price in BC was $906,785 an 8.6 per cent decrease from $992,245 recorded in November 2021. Total sales dollar volume was $4.1 billion, a 55 per cent decline from the same time last year.

“A lot has changed in 2022,” said Brendon Ogmundson, Chief Economist. “This...

While typically a quiet month of market activity based on seasonal patterns, November home sale and listing totals lagged below the region’s long-term averages.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,614 in November 2022, a 52.9 per cent decrease from the 3,428 sales recorded in November 2021, and a 15.2 per cent decrease from the 1,903 homes sold in October 2022.

Last month’s sales were 36.9 per cent below the 10-year November sales average.

“With the most recent core inflation metrics showing a stubborn...

Highlights:

• National home sales were up 1.3% on a month-over-month basis in October.
• Actual (not seasonally adjusted) monthly activity came in 36% below October 2021.
• The number of newly listed properties edged up 2.2% month-over-month.
• The MLS® Home Price Index (HPI) declined by 1.2% month-over-month and was down 0.8% year-over-year.
• The actual (not seasonally adjusted) national average sale price posted a 9.9% year-over-year decline in October.

Home sales recorded over Canadian MLS® Systems edged up by 1.3% between September and October 2022. While not a large increase, it was significant...

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The British Columbia Real Estate Association (BCREA) reports that a total of 5,242 residential unit sales were recorded by the Multiple Listing Service® (MLS® ) in October 2022, a decrease of 45.5 per cent from October 2021. The average MLS® residential price in BC was $932,979, a 3.1 per cent decrease from $963,011 recorded in October 2021. Total sales dollar volume was $4.9 billion, a 47.2 per cent decline from the same time last year.

“Sales activity remains slow across the province and inventories appear to be plateauing,” said BCREA Chief Economist Brendon Ogmundson....

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 October sales average.

“Inflation and rising interest rates continue to dominate headlines, leading many buyers and sellers to assess...

Excellent Layout
2 Bed, 2 Bath, 989sqft
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Corner unit, over height ceilings, private treed outlook & plenty of natural light. This 2bed/2bath/989sqft home shows well & won't disappoint. Located in Veritas, a 6 year young complex in the Heart of SFU, UniverCity; Vancouver's premier lifestyle neighborhood. Features: welcoming entry, open layout, excellent rm separation, laminate & plush carpets, large kitchen w/SS appls & breakfast bar w/access to fully covered balcony. The master fits king size bed, has walk-in closet & ensuite with his/her...

The British Columbia Real Estate Association (BCREA) reports that a total of 4,977 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in September 2022, a decrease of 45.8 per cent from September 2021. The average MLS® residential price in BC was $927,119, a 1.7 per cent increase from $912,008 recorded in September 2021. Total sales dollar volume was $4.6 billion, a 44.9 per cent decline from the same time last year.

“Mortgage qualifying continues to be a significant hurdle for many potential buyers as interest rates rise,” said BCREA Chief Economist...

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 35.7 per cent below the 10-year September sales average.

“With the Bank of Canada and other central banks around the globe...

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Lush forest and mountain top views, bright, spacious & in impeccable condition! This is the home you have been searching for. Welcome to this true 3 bed, 2 bath, 1290sqft luxury home, in prestigious One University Cr., located in UniverCity, Vancouver's premier lifestyle neighborhood. Features: freshly painted, East/West exposure, 2 large covered balconies, engineered floors, 9’ ceilings, open kitchen w/SS apps, quartz counters & breakfast bar & a cozy fireplace. The...

Highlights:

• Bond yields on a rollercoaster ride but mortgage rates remain flat

. • Is the Canadian economy slowing?

• When will the Bank of Canada reverse course?

Mortgage Rate Outlook

Volatility continued in the Canadian mortgage market over the third quarter. Financial markets are currently digesting a complex economic environment as still high, though perhaps peaking, inflation collides with anxiety over a potential recession. That anxiety has expressed itself as volatility across Canadian bond markets with yields on Canadian government debt plunging before rapidly recovering...

Excellent Layout

2 Bed, 2 Bath, 989sqft

Priced at $668,800

Click here for more.... 

Corner unit, over height ceilings, private treed outlook & plenty of natural light. This 2bed/2bath/989sqft home shows well & won't disappoint. Located in Veritas, a 6 year young complex in the Heart of SFU, UniverCity; Vancouver's premier lifestyle neighborhood. Features: welcoming entry, open layout, excellent rm separation, laminate & plush carpets, large kitchen w/SS appls & breakfast bar w/access to fully covered balcony. The master fits king size bed, has walk-in closet & ensuite with...

The British Columbia Real Estate Association (BCREA) reports that a total of 5,645 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in August 2022, a decrease of 40.8 per cent from August 2021. The average MLS® residential price in BC was $918,378, a 2.1 per cent increase from $899,428 recorded in August 2021. Total sales dollar volume was $5.2 billion, a 39.6 per cent decline from the same time last year.

“Housing activity across the province remains well below normal but is showing signs of stabilizing,” said BCREA Chief Economist Brendon Ogmundson....

Simon Fraser University is adding purpose-built, sustainably designed family housing to the Burnaby campus this fall, giving students with families a broader range of affordable accommodation options.

Located in UniverCity on the east side of the Burnaby campus, the two new buildings include 90 rental units—including three accessible units—consisting of studio, one-bedroom and two-bedroom apartments. The units are reserved for SFU students with a spouse or common-law partner and/or children. Students who are interested in living in this unique residence community can learn...

Third Quarter – September 2022

The dramatic rise in Canadian mortgage rates has prompted an equally dramatic shift in the BC housing market. While the year started with home sales on pace to exceed 100,000 unit sales for a second consecutive year, aggressive monetary tightening in response to the highest inflation in decades quickly sent demand to the sidelines as five-year mortgage rates more than doubled. Compounding the impact of rising mortgage rates, mortgage stress test requirements mean many potential buyers have to qualify at more than 7 per cent.

There are some signs, however, that...