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Blog by Graham Kirby

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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 ...

March 2018 sales down 29.7 percent from March 2017, prices continue to rise in most categories

April 11th, 2018

The stats are in for the first quarter of 2018 and sales are at their lowest since 2013.

Factors that have contributed to this slowdown  include high prices, new tax measures and most importantly, rising interest rates combined with tougher mortgage qualification requirements and lack of new inventory.

Although low inventory affects volume of sales it also contributes to the continued incre ...

Overall Sales Dip Below Ten Year Average for February

March 13th, 2018

Last months’ overall sales were 14.4 percent below the ten year average. Detached (single houses) took the biggest hit with a 39.4 percent decrease over the same period. Attached sales (town homes) were down 6.8 percent but apartment sales continue to buck the recent trend by coming in at 5.5 percent above the ten year average.

Rising interest rates and tighter lending policies have contribu ...

Condos continue to lead demand in Metro Vancouver Home Sales in January

February 13th, 2018

Overall sales were 7.1 percent above the ten year average for January. Condo sales were up 31.6 percent and attached home sales were up 14.3 percent over the same period. Single homes in stark contrast to Condo and attached sales were down 24.8 percent from the ten year average.

People upsizing from a condo or attached home will be able to demand top dollar for their current home while more ...

Metro Vancouver Residential Market Round up 2017

January 9th, 2018

A healthy economy, historically low interest rates, higher employment and wages plus a growing population all contributed to home buyer demand in 2017.

Total home sales for 2017 were down 9.9% from 2016 but were still the third highest over the last ten years.

In contrast to this, listings were the second lowest total over the last ten years. The combination of strong demand and low invento ...

Strong Demand, Below Average Inventories Continue to Drive the Metro Vancouver Market

December 17th, 2017

Home sales in November increased 26.2 percent from November 2016 and were 17 percent above the ten year average. Condos and townhomes continue to be the strongest categories. The sales to active listings ratio for condos in November was a whopping 67.8 percent with townhomes coming in at 32 percent and detached homes remaining at a balanced market ratio of 15.9 percent.

It will be interestin ...

October sales remain strong for Condos

November 14th, 2017

Metro Vancouver home sales in October this year have exceeded previous Octobers due to the strength of the attached home markets, while detached homes have moved towards a more balanced position overall. This October’s sales were 15 percent above the ten year average.

The sales to listings ratios tell the story with detached homes at 16.8 %, Townhomes at 44.8% and Condos at 66 %.

Primary co ...

Attached homes still leading the market in Greater Vancouver

October 13th, 2017

September’s stats continue to show the trend of attached homes leading the market.

The sales to listings ratio for apartments was 60.4%, townhomes 42.3% and Single Homes 14.5%. Anything over a 20% ratio is considered a buyers’ market. The detached market overall is now considered to be a balanced market. Lack of attached property supply and tightening lending policies for buyers that were pr ...

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