Home Listings Up, Sales Down and Prices Starting To Decrease To Start The Summer Season

Home Listings Up, Sales Down and Prices Starting To Decrease To Start The Summer Season

With interest rates and housing supply increasing, Metro Vancouver* home buyers are operating in a changing marketplace to begin the summer season.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,444 in June 2022, a 35 per cent decrease from the 3,762 sales recorded in June 2021, and a 16.2 per cent decrease from the 2,918 homes sold in May 2022.

Last month’s sales were 23.3 per cent below the 10-year June sales average.
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Higher Rates But Less Inflation Panic

Higher Rates But Less Inflation Panic

Mounting fears of a recession have gripped equity markets, with the S&P/TSX Composite Index now firmly in correction territory. The S&P/TSX is down 13 per cent from its record closing high of 22,087, reached on March 29.

The Globe and Mail recently spoke with Benjamin Tal, deputy chief economist at CIBC Capital Markets, who shared his perspectives on the risk of an economic contraction, monetary policy and implications for the housing market. Mr. Tal also provided some suggestions on which stocks may do well in this challenging environment.
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Home Buyer Demand in Metro Vancouver* Returned To More Historically Typical Levels in April

Home Buyer Demand in Metro Vancouver* Returned To More Historically Typical Levels in April

VANCOUVER, BC – May 3, 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 a 25.6 per cent decrease from the 4,344 homes sold in March 2022.

Last month’s sales were 1.5 per cent above the 10-year April sales average.
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Calmer Than Last Spring’s Record Pace, Metro Vancouver Home Buyer Demand Remains Elevated

Calmer Than Last Spring’s Record Pace, Metro Vancouver Home Buyer Demand Remains Elevated

While down from last year’s record numbers, home sale activity in Metro Vancouver’s housing market remained elevated in March.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 4,344 in March 2022, a 23.9 per cent decrease from the 5,708 sales recorded in March 2021, and a 26.9 per cent increase from the 3,424 homes sold in February 2022.

Last month’s sales were 25.5 per cent above the 10-year March sales average.
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Back to work(place): As employers beckon, telecommuters grow more entrenched at home

Back to work(place): As employers beckon, telecommuters grow more entrenched at home

March 23, 2022 – With work-from-home orders a thing of the past, Canadian employers are getting more serious about calling their employees back to the office.

Banks have “led the pack”. CIBC brought employees back starting this week as part of a hybrid model, while last week HSBC opened two new offices in Vancouver and Toronto with 50 per cent capacity.

A new study from the non-profit Angus Reid Institute, in partnership with the Canadian Broadcasting Corporation, finds workers from home reluctant to return. More than half (56%) of those currently working from home say they would look for a new job if they were asked to return to the office, including almost one-quarter (23%) who say they would quit on the spot.
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New Program Matches Buyers to Purchase Homes Together

New Program Matches Buyers to Purchase Homes Together

High housing costs lead to a matchmaking service for joint ownership

Peter Mitham,   Mar 18, 2022

A year ago, Elizabeth Wilcox thought she would be priced out of the Vancouver housing market. With prices rising after the initial restrictions associated with COVID-19 lifted, she and her husband found themselves scrambling to find anything within their budget.
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40% of Vancouver’s Generation Z Adults Expect 1st Home to be Co-Owned, Real Estate Survey Suggests

40% of Vancouver’s Generation Z Adults Expect 1st Home to be Co-Owned, Real Estate Survey Suggests

Published: Alyse Kotyk, CTV News Vancouver, March 9, 2022

More than a third of Generation Z adults living in Vancouver expect they’ll co-own their first home with someone else like friends or family, a recent survey suggests.

The Generation Z Report, released by Sotheby’s International Real Estate and the Mustel Group Wednesday, looks at how that age group is preparing for home ownership across the country. It suggests 37 per cent of Canadian Generation Z adults, which included those aged 18 to 28, living in urban areas expect they’ll be able to purchase their first home in less than five years.

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Listings Inch Up, Demand Remains Steady and Price Gains Continue in Metro Vancouver’s Housing Market in February

Listings Inch Up, Demand Remains Steady and Price Gains Continue in Metro Vancouver’s Housing Market in February

The Metro Vancouver* housing market saw steady home sales activity, modest increases in home listings and continued upward trends in pricing in February.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,424 in February 2022, an 8.1 per cent decrease from the 3,727 sales recorded in February 2021, and a 49.8 per cent increase from the 2,285 homes sold in January 2022.

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Low Supply Keeps Upward Pressure On Home Prices Across Metro Vancouver’s Housing Market

Low Supply Keeps Upward Pressure On Home Prices Across Metro Vancouver’s Housing Market

The first month of 2022 saw home sales come down from last year’s record-setting pace, while low supply continued to cause home prices to edge higher across Metro Vancouver*.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,285 in January 2022, a 4.4 per cent decrease from the 2,389 sales recorded in January 2021, and a 15 per cent decrease from the 2,688 homes sold in December 2021.

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