Home prices continue to rise in Metro Vancouver’s housing market to kick off the summer. VANCOUVER, BC – July 5, 2023 – Continuing the trend that has emerged in the housing market this year, the benchmark price for all home types in Metro Vancouver increased in June as home buyer demand butted up against a…
Amid a fluctuating economic environment, RE/MAX Canada examined how key economic and transactional trends are likely to impact Canadian homebuyers and sellers, the real estate industry and the broader economy in 2023. Among those who may be interested in buying/selling in 2023, the housing market moderating and regaining balance is the greatest cause for optimism.…
“Sales activity continues to slow in the face of rising interest rates and uncertainty,” said Jill Oudil, Chair of CREA. New Listings in British Columbia Increase by 5.5% Housing markets across British Columbia saw an additional 16,400 new listings added in June 2022, representing a 5.5% increase, compared to same time last year.
If you’re like most home sellers, you probably already know that working with a realtor can mean so much during the home selling process. They can make your home sell faster and for quite a bit more, but most importantly, they can make the entire process a bit less stressful. Hiring a realtor to sell the house…
The Governing Council of the Bank of Canada raised the overnight policy rate by a full 50 basis points once again today, marking the third rate hike this year. The two back-to-back half-point increases are without precedent, but so were the dramatic pandemic rate cuts in the spring of 2020. Indeed, with the surge in…
VANCOUVER, BC – May 2022 – Home buyer demand in Metro Vancouver* returned to more historically typical levels in April. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,232 in April 2022, a 34.1 per cent decrease from the 4,908 sales recorded in April 2021, and…
RE/MAX agents share time-tested tips and tricks for buyers to stay motivated during their real estate journeys amid a fickle seller’s market. In many U.S. locales, the housing market is roaring. It’s great news for sellers, but perhaps less-welcomed news for buyers, who may be feeling the ups and downs of a competitive market. Angelica…
In recent months, the consensus has been that the Canadian real estate market may have reached its peak. Some markets continue to enjoy record-breaking gains. Still, the broad-based trends spotlight a crucial development: the sector may be returning to some semblance of normalcy during these uncertain times. Will this finally give young Canadians hope that they can attain the…
It should come as no surprise that affordability in the Canadian housing market has become a key issue in the upcoming federal election. According to a recent RE/MAX report, 42 per cent of Canadians said the high cost of housing was preventing them from entering the housing market, and 48 per cent shared concerns over their ability to…
Maintaining a property requires a certain amount of care. Without it, the structure may sustain damage, even if the exterior looks like it is in good general condition. There are many reasons that homeowners may have a second property. Many people deliberately choose to make the purchase, for use as a vacation home or investment…
Canadians opt for more affordability and new lifestyle, flocking to recreational property market 57 per cent of markets offer properties below $500K, according to RE/MAX brokers and agents Average sale price anticipated to rise up to 30% in some recreational property markets, according to RE/MAX brokers and agents. 44 per cent of recreational property buyers…
Stakes in Canadian real estate have never been higher. Industry professionalism needed to restore buyer and seller confidence. Particularly for buyers engaged in the Canadian real estate market, the transaction is filled with mounting complexities and undeniable frustrations – most specifically, the lack of transparency in under-market-value listing strategies within an already expensive market, and…
The February 2021 Market stats are out and available for download. You get the following graphs and charts for both Vancouver East and Vancouver West. Activity Snapshot by Property Type Detached Properties Report and Graph Condo Report and Graph Townhomes Report and Graph Benchmark Price Graph Average Price Per Square Foot If you are interested…
Competition amongst home buyers is putting upward pressure on home prices across Metro Vancouver’s* housing market. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,727 in February 2021, a 73.3 per cent increase from the 2,150 sales recorded in February 2020, and a 56 per cent…
The January 2021 Market stats are out and available for download. You get the following graphs and charts for both Vancouver East and Vancouver West. Activity Snapshot by Property Type Detached Properties Report and Graph Condo Report and Graph Townhomes Report and Graph Benchmark Price Graph Average Price Per Square Foot If you are interested…
In the first month of 2021, Metro Vancouver’s housing market continued the pattern set at the end of last year with home sale activity outpacing the supply of homes listed for sale. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,389 in January 2021, a 52.1…
Canadian real estate surprised everyone in 2020. While the markets closed the year with red-hot, record-breaking activity, the year brought much uncertainty, financial upheaval, renewed forecasts of a bursting housing bubble, and other news that will likely continue to impact market activity in 2021. With the first week of the new year behind us, here’s…
The Bank of Canada, this morning, released its January Monetary Policy Report (MPR), showing they expect to keep overnight interest rates at its “effective lower bound” of 0.25% until 2023 (see chart below). To reinforce this commitment and keep interest rates low across the yield curve, the Bank will continue its Quantitative Easing (QE) program–buying…
The December 2020 Market stats are out and available for download. You get the following graphs and charts for both Vancouver East and Vancouver West. Activity Snapshot by Property Type Detached Properties Report and Graph Condo Report and Graph Townhomes Report and Graph Benchmark Price Graph Average Price Per Square Foot If you are interested…
Strong December activity brought Metro Vancouver’s* 2020 home sales total in line with the region’s long-term annual average. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 30,944 in 2020, a 22.1 per cent increase from the 25,351 sales recorded in 2019, and a 25.7 per cent…