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Blog by Graham Kirby

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Home Sales for 2019 below ten year average but picked up dramatically in the second half

January 20th, 2020

The Metro Vancouver housing market experienced below average sales activity and moderate price declines in 2019.

Sales of detached, attached and apartment homes increased three per cent from 2018 but decreased 29.6 % from 2017.

Last year’s sales total was 20.3 % below the region’s 10-year sales average.

“Home buyer demand was quieter in the normally busy spring season and it picked up in t ...

Signs point to improving housing market in 2020

November 25th, 2019

Canada Mortgage and Housing Corporation (CMHC) recently published their fall, National and Provincial housing market report. Below is a statement from the report by Chief Economist, Bob Dugan on a National level.

“Housing starts are projected to stabilize in 2020 and 2021 at levels in line with long-run averages. This follows two years of declines from elevated levels in 2017. Resale activit ...

Metro Vancouver housing market sees sales increase for July and August this year compared with the same months last year.

September 16th, 2019

For the first time this year we saw both July and August home sales activity outperform the activity from the same months last year..

 

The increase this August compared with August last year was a 15.7 % but sales were still 9.2 % below the ten year average. 

 

In other words, home sales have returned to more normal levels over the summer months.

 

The boost in sales activity means tha ...

Home Sales Improve - inventory highest in five years.

June 21st, 2019

   

 

Home sales in May were the highest we have seen this year and 44.2% higher than April. However sales were still 22.9% below the ten year average and 6.9% less than May of last year.

Affordability and tight lending regulations continue to be primary factors dampening housing demand at this time.

There were 8.1% less new listings in May, 2019 compared with May 2018 but overall listing ...

Many Potential home buyers still sitting on the fence in March

April 15th, 2019

March home sales for Greater Vancouver were down 31.4 % when compared to March 2018. However March sales were up 16.4% when compared to February 2019.

Housing demand today is not matched with our growing economy and low unemployment. Most of the slow down we are seeing is the result of taxes and tighter lending policies introduced by the government over the past three years. What the governm ...

Home inventories still increasing as many buyers remain on the fence

February 22nd, 2019

Home sales were down 39.3% from a year ago but up 2.9% from last month.

There was a 27.7% increase in inventory of homes for sale in January of this year compared with January of last year.

Sales were 36.3% below the ten year average and the lowest January sales since 2009.

The sales to active listings ratio was 6.8% for Single Homes, 11.9% for Town Homes and 13.6% for Condos.

When the sa ...

Metro Vancouver homes sales below historical average for November

December 13th, 2018

Home buyer demand remained below historical averages for November and many consumers have taken a wait and see approach in recent months during this cooling down period. We have also seen prices edge down from the record highs reached over the last year. To put this in perspective, overall prices are now down 1.4% from a year ago.

New listings for sale are down 15.8% compared with November 2 ...

September housing inventories continue to grow in Metro Vancouver

October 22nd, 2018

Inventories of homes available for sale continued to grow across Metro Vancouver in September and sales continued to decline. September sales were 36.1% below the ten year average and housing inventory is the highest we have seen in four years. More supply and less demand has been reflected in a slow easing in prices in most categories and price points. Condos and Town Homes are presently in ...

Sales slow down across BC

August 22nd, 2018

The BC real estate market has continued its slowdown in sales for the months of July and August and the B.C. Real Estate Association (BCREA) is predicting a 21 percent drop in sales for 2018. The biggest factor , agreed by many experts in the industry is attributed to the tougher mortgage qualification rules introduced in January by the federal government. In simple terms the new rules reduce ...

Good News for some Single Home Buyers

May 14th, 2018

The MLS stats for April show the detached, Single House market being affected most by the federal and provincially imposed measures designed to cool the housing  market.

Listings are up and sales were down in April which is reflected in the sales to listings ratio for Single homes at 14.1 percent which indicates a balanced market. Buyers of Single Homes now have more selection and less compe ...

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