Home sale and listing activity in Metro Vancouver moves off of its record-breaking pace

The Metro Vancouver* housing market saw steady home sale and listing activity in May, a shift back from the record-breaking activity seen in the earlier spring months.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 4,268 in May 2021, a 187.4 per cent increase from the 1,485 sales recorded in May 2020, and a 13 per cent decrease from the 4,908 homes sold in April 2021.
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New mortgage stress test rules take effect. Here’s what you need to know

Starting June 1, Canadian homebuyers will face tougher mortgage stress test rules that will decrease the buying power of most borrowers.

The move, announced by the country’s banking regulator in May, was in response to an overheated market that has already started to see signs of cooling.
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Supply Response Emerges in Metro Vancouver’s Active Housing Market

Home sellers have become increasingly active in Metro Vancouver’s* housing market this spring in response to heightened demand and rising home values that have materialized during the pandemic.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 4,908 in April 2021, a 342.6 per cent increase from the 1,109 sales recorded in April 2020, and a 14 per cent decrease from the 5,708 homes sold in March 2021.
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Millennials are taking advantage of low-rate window to jump into housing market, poll suggests

Low interest rates, bulked up savings and the availability of remote work has made homeownership more attractive, even if affordability is decreasing

Millennials want space, both outdoors and indoors, to accommodate their new work-from-home lifestyle. PHOTO BY NORM BETTS/BLOOMBERG

A quarter of millennials have purchased homes in the past year, as the pandemic has created a near-perfect window of opportunity for them to buy, according to a new poll.

March home sales and new listings set records in Metro Vancouver

Home buyer and seller activity reached unprecedented levels across Metro Vancouver* in March.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 5,708 in March 2021, a 126.1 per cent increase from the 2,524 sales recorded in March 2020, and a 53.2 per cent increase from the 3,727 homes sold in February 2021.
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Home Buyer Competition Intensifies Across Metro Vancouver’s Housing Market

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 increase from the 2,389 homes sold in January 2021.
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B.C.’S Brand Equity Sustains Its Global Appeal

As borders remain closed and travel is at a standstill, most of us continue to feel the effects of the novel Coronavirus. Here in B.C., however, the real estate market has remained resilient due to a number of factors including a high quality of life, rise in remote work culture and the adoption of technology by buyers and realtors alike. As restrictions begin to loosen in the future, coupled with a federal government commitment to significantly grow the population in the coming years, demand is set to keep rising.

Bank of Canada Governor Isn’t Worried About a Housing Bubble

Canada’s top central banker isn’t worried about the country’s hot housing market, saying low interest rates and demand for space rather than speculation are behind the price gains.

Accommodative monetary policy, a preference for more living area and the ability to work from home during the pandemic are the main reasons demand for single-family homes across the country has been so robust, Tiff Macklem said Wednesday in an interview with Bloomberg News.

Home Buyer Demand Remains Elevated Across Metro Vancouver

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 per cent increase from the 1,571 sales recorded in January 2020, and a 22.8 per cent decrease from the 3,093 homes sold in December 2020.

Metro Vancouver Housing Market Shows Resilience in 2020

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 increase from the 24,619 homes sold in 2018.