Category : Vancouver market report

REBGV Market Update For April 2020 – April Home Sales In Metro Vancouver Lowest Since 1982.

Last month life as we knew it, ground to a halt because of COVID-19, and so did Metro Vancouver’s real estate market. This was reflected in The April 2020 market report released by the Real Estate Board of Greater Vancouver (REBGV). "Predictably, the number of home sales and listings declined in April given the physical distancing measures in place. People are, however, adapting. They’re working with their realtors to get information, advice, and to explore their options so they’re best positioned in the market during and after this pandemic," said Colette Gerber, REBGV president-elect. She added, “We’re seeing more innovation…

REGBV Report April 2019 – The Trend of Reduced Demand And Increased Supply Still Prevails In The Market.

The latest Real Estate Board of Greater Vancouver (REGBV) report on the April 2019 real estate market, shows that buyers are reluctant to get into the market and sellers are being forced to be creative. Product that is staying on the market for more than a month is seeing discounts that were unheard of 2 years ago. For a decade it has been a sellers market. This has changed. Residential property sales totalled 1,829 in April 2019, a 29.1% decrease from the 1,829 sales recorded in April 2018 and a 5.9% increase from the 1,727 homes sold in March 2019.…

REBGV Market Update May 2019 – Modest Bounce In May, But Sales Remain Below Historical Averages

The latest report released by the Real Estate Board of Greater Vancouver (REBGV) showed that sales in May 2019 crossed the 2,000 units sold for the first time this year. However, homebuyer demand remains below historical averages. “High home prices and mortgage qualification issues caused by the federal government’s B20 stress test remain significant factors behind the reduced demand that the market is experiencing today” remarked Ashley Smith, REBGV president. Home Sales Residential home sales totaled 2,638 in May 2019, a 6.9% decrease from 2,833 sales recorded in May 2018 and a 44% increase from homes sold in April 2019.…

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