Market News & Statistics

Measuring the market – is the HPI the best tool?

Posted on January 12th, 2017

What’s happening to home prices and where are they headed? Realtors are asked these questions everyday by clients looking for accurate information to base their decision on whether it’s a good time to buy or sell. Are these market watchers getting the best data? To ensure they are, the Real Estate Board of Greater Vancouver originally developed the Housing Price Index (HPI), in 1997, together with the Fraser Valley, Calgary, Toronto and Montreal real estate boards and the Canadian Real… Read more

BC to fund interest-free loan program for first-time buyers

Posted on December 20th, 2016

In the spirit of the holiday season, BC Premier Christy Clarke is giving first-time home buyers an unexpected and much-welcome gift. On December 15, 2016, Premier Clark announced a new initiative, the BC Home Owner Mortgage and Equity (HOME) Partnership program. The program, which begins accepting applications on January 16, 2016, will offer first time home buyers interest-free and payment-free down payment loans for the first five years. “This program will boost sales to first-time home buyers. Without question, they… Read more

Are we in a housing bubble?

Posted on September 30th, 2016

We’ve been reading about a housing bubble on a regular basis for the past 10 years, and yet the market has increased. In the past few months, bubble articles seem to be more prominent. Is this time going to be different? Is the end of the run-up in real estate prices near? “We’re not in a housing bubble,” said Helmut Pastrick, chief economist with Central 1 Credit Union. “While Metro’s housing market has seen the result of the recent 15-per-cent… Read more

When renting a spare room = trouble

Posted on January 11th, 2016

Websites such as Airbnb and Vacation Rentals By Owner  help property owners “share” their extra space by renting homes, apartments, and spare rooms. Known as part of the “sharing economy,” property owners and tenants, called “hosts,” give strangers keys, front door codes, and gate openers. This can bring parking problems, noise, and crime into previously quiet residential communities. If neighbours complain or police are called, strata councils and municipalities can take action. Who has authority over short-term rentals? Strata corporations… Read more

Metro Vancouver home sales break record – highest in history

Posted on January 6th, 2016

  REBGV area Jan. – Dec. 2015 Jan. – Dec. 2014 % change Number of sales 42,326 33,116 27.8% Total listings 57,249 56,066 2.1% MLS® Benchmark price – all $769,900 $638.500 18.9% Benchmark price detached $1,248,600 $1,002,200 24.3% Benchmark price townhouse $543,700 $476,800 13.6% Benchmark price condo $436,200 $380,700 14% Source: data from the REBGV For 2015 New record – highest number of sales in the Real Estate Board’s history New record – four consecutive months with more than 4,000… Read more

Metro Vancouver Real Estate Market Highlights, as of September 2015

Posted on October 5th, 2015

Metro Vancouver housing market @ a glance for April 2015

Posted on May 5th, 2015

  REBGV area April 2015 April 2014 % increase Number of sales 4,179 3050 37% Number of new listings 5,897 5,950 -0.9% MLS® Benchmark price – all $673,000 $619,000 8,5% Benchmark price detached $1,078,900 $956,700 12.5% Benchmark price townhouse $493,300 $464,400 5.7% Benchmark price condo $392,200 $375,500 4.4% Source: data from the REBGV For April 2015 Sales were 29.3% above the 10-year sales average for March. New listings were 4.7% higher than the region’s 10-year new listing average for the… Read more

Metro Vancouver housing market @ a glance for March 2015

Posted on April 8th, 2015

REBGV area March 2015 March 2014 % increase Number of sales 4,060 2,641 53.7% Number of new listings 5,968 5,281 13% MLS® Benchmark price – all $660,700 $615,200 7.2% Benchmark price detached $1,052,800 $945,400 11.2% Benchmark price townhouse $484,900 $460,100 4.9% Benchmark price condo $390,200 $375,800 3.3% Source of data: REBGV For March 2015 Sales were 26.8% above the 10-year sales average for March. New listings were 4.7% higher than the region’s 10-year new listing average for the month. Total properties listed… Read more

Metro Vancouver housing market @ a glance for February 2015

Posted on March 4th, 2015

REBGV area February 2015 February 2014 Change Number of sales 3,061 2,530 21% Number of listings 5,425 4,700 15.4% MLS® Benchmark price – all $649,700 $609,100 6.4% Benchmark price detached $1,026,300 $932,900 9.7& Benchmark price townhouse $481,500 $458,300 4.6% Benchmark price condo $386,500 $373,300 3% Source of data: REBGV For February 2015 New listings were 11.8% higher than the region’s 10-year new listing average for the month. Total properties listed for sale: 11,898, a 10.1% increase compared to January 2015. Sales to… Read more

Construction industry employment shows modest gains in 2014

Posted on January 12th, 2015

Metro Vancouver construction industry employment increased 0.8% in 2014 January – December 2014 compared to 2013. Year-over-year employment was 6.2% lower and December 2014 employment declined 2.4% compared to December 2013. “Construction employment has stalled, which is typical for this time of year,” said Andrew Peck, vice-president and general manager, Royal Pacific Realty Group. “But overall the trend was higher in 2014.” However, building permit activity remains active, according to Royal Pacific Realty Group, which bodes well for construction employment, explained Mr…. Read more