Rising Interest Rates Bring Caution To Close 2022
Posted on Jan 05, 2023
Metro Vancouver's housing market saw a decrease in sales in 2022 due to rising borrowing costs caused by the Bank of Canada's efforts to combat inflation. According to the Real Estate Board of Greater Vancouver, there were 28,903 residential home sales in the region in 2022, a 34.3% decrease from 2021 and a 6.6% decrease from 2020. The number of sa...
Home Market Continues Trend Below Averages In November
Posted on Dec 06, 2022
While traditionally a quiet month for activity in the market, November’s sales and listing activity has been below the long-term averages that are usually observed.
Home sales for Greater Vancouver reached a total of 1,614 doe November of this year; which is a 52.9% decrease from November of last year (3,428) and a 15.2% decrease from October 2022.
T...
Temperatures Drop Along With Sales Activity Across Metro Vancouver In October
Posted on Nov 09, 2022
Statistics reported by The Real Estate Board of Greater Vancouver (REBGV) has shown that there was a total of 1,903 during October 2022 for residential sales. This is a 45.5% decrease from the same month last year and a 12.8% increase from the 1,687 homes sold in September of this year.
“Inflation and rising interest rates continue to dominate headl...
Sellers Start To Outweigh Buyers In Metro Vancouver For September
Posted on Oct 14, 2022
Residential home sales totaled 1,687 in September 2022 as reported by The Real Estate Board of Greater Vancouver (REBGV). This is a 46.6% decrease from September of last year and a 9.8% decrease from the total of home sold in August of this year.
(If you are looking for the Cole's notes for this update scroll down to "THE TAKEAWAY)
“With the Bank of...
Vancouver Experiences A Quieter Summer Market
Posted on Sep 09, 2022
The REBGV (Real Estate Board of Greater Vancouver) has reported that there were a total of 1,870 homes sold in August of this year. This represents a 0.9% decrease from July 2022 and a 40.7% decrease from August of last year.
“With inflationary pressure and interest rates on the rise, home buyer and seller activity shifted below our long-term season...
Buyer's Demand Decreases Across Vancouver
Posted on Aug 18, 2022
The market has been slowing as buyer demand has been lowering which has been causing a gradual rise in homes for purchase.
Sales of homes in the region reached a total of 1,887 in July of this year as reported by the Real Estate Board of Greater Vancouver (REBGV). This is a 43.3% decrease from the same time last year and a 22.8% decrease from that o...