Wednesday, October 10, 2012 September 2012 UpdateCategories:BC Economics,BC Market Update,BC Real estate market,BCREA,Lance Brown,Vancityishome,Vancouver East Real Estate,Vancouver Market Update,Vancouver Market Update. 1st Time home Buyers,Vancouver Real Estate,Vancouver Real Estate Bubble,Vancouver Real Estate market,Vancouver West Real Estate,West End VW,Yaletown Conditions continue to favour buyers in the Greater Vancouver housing marketThe summer of 2012 drew to a close in September with home sale activity well below historical averages in the Greater Vancouver housing market. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 1,516 in September, a 32.5 per cent decline compared to the 2,246 sales in September 2011 and an 8.1 per cent decline compared to the 1,649 sales in August 2012. September sales were 41.6 per cent below the 10-year September sales average of 2,597. “There’s been a clear reduction in buyer demand in the three months since the federal government eliminated the availability of a 30-year amortization on government-insured mortgages,” Eugen Klein, REBGV president said. “This makes homes less affordable for the people of the region.” New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,321 in September. This represents a 6.3 per cent decline compared to September 2011 when 5,680 properties were listed for sale on the MLS® and a 31.6 per cent increase compared to the 4,044 new listings in August 2012. At 18,350, the total number of residential property listings on the MLS® increased 14.1 per cent from this time last year and increased 4.5 per cent compared to August 2012. “Today, our sales-to-active-listings ratio sits at 8 per cent, which puts us in a buyer’s market. This ratio has been declining in our market since March when it was 19 per cent,” Klein said. The MLS HPI® composite benchmark price for all residential properties in Greater Vancouver is $606,100. This represents a decline of 0.8 per cent compared to this time last year and a decline of 2.3 per cent over last three months. “Prices in the region remain relatively stable overall, although we do see some reductions in the areas that have had some of the largest price increases over the last year or two,” Klein said. Sales of detached properties on the MLS® in September 2012 reached 594, a decrease of 37.9 per cent from the 957 detached sales recorded in September 2011, and a 31.4 per cent decrease from the 866 units sold in September 2010. The benchmark price for detached properties decreased 0.5 per cent from September 2011 to $935,600. Sales of apartment properties reached 676 in September 2012, a 26.7 per cent decrease compared to the 922 sales in September 2011, and a decrease of 30.4 per cent compared to the 971 sales in September 2010. The benchmark price of an apartment property decreased 0.7 per cent from September 2011 to $368,600. Attached property sales in September 2012 totalled 246, a 33 per cent decrease compared to the 367 sales in September 2011, and a 35.8 per cent decrease from the 383 attached properties sold in September 2010. The benchmark price of an attached unit decreased 2.7 per cent between September 2011 and 2012 to $458,600. Thursday, August 30, 2012 BC Homes Sales to Rise in 2013Categories:BC Economics,BC Market Update,BC Real estate market,Downtown VE,Downtown VW,Fairview VW,Kitsilano,Lance Brown,Main,Vancityishome,Vancouver East Real Estate,Vancouver Market Update,Vancouver Market Update. 1st Time home Buyers,Vancouver Real,Vancouver Real Estate,Vancouver Real Estate market,Vancouver West Real Estate,West End VW,Yaletown BC Home Sales to Rise in 2013
BCREA 2012 Third Quarter Housing Forecast Update Vancouver, BC – August 30, 2012. The British Columbia Real Estate Association (BCREA) released its 2012 Third Quarter Housing Forecast Update today.
"Despite more robust consumer demand in the Interior, fewer home sales in Vancouver will pull the BC total lower this year," said Cameron Muir, BCREA Chief Economist. "However, a notable growth trend in full-time employment combined with persistently low mortgage interest rates is expected to boost housing demand around the province in 2013." "MLS® residential prices are expected to remain relatively stable this year and through 2013, with changes in average price statistics largely the result of a differing mix of home types sold and shifting regional demand patterns," added Muir. Average price data for Vancouver was skewed artificially high in 2011 by a wave of detached home sales in the priciest neighbourhoods. Lower Mainland's share of provincial home sales is expected to decline to 58 per cent this year from 62 per cent in 2011. The average MLS® residential price in BC is forecast to decline 7.8 per cent to $517,500 this year, and remain relatively unchanged at $519,000 in 2013. Thursday, June 7, 2012 BC Housing UpdateCategories:BC Economics,BC Market Update,BC Real estate market,Buyers,Canadian Inflation,Downtown VE,Lance Brown,Vancityishome,Vancouver East Real Estate,Vancouver Market Update,Vancouver Market Update. 1st Time home Buyers,Vancouver Real,Vancouver Real Estate,Vancouver Real Estate Bubble,Vancouver Real Estate market,Vancouver West Real Estate,West End VW,Yaletown Interior Housing Markets to Shine in 2012 Vancouver, BC – June 6, 2012. The British Columbia Real Estate Association (BCREA) released its 2012 Second Quarter Housing Forecast today.
"Despite a sizable increase in consumer demand in Kamloops, the Okanagan and the North, some moderation in the Metro Vancouver region will pull BC home sales lower this year,” said Cameron Muir, BCREA Chief Economist. “Persistently low mortgage interest rates are expected to continue to underpin home sales and affordability in the province." "An increase in the proportion of home sales in the Interior combined with fewer luxury sales in Vancouver will cause the annual average price in BC to decline nearly 4 per cent this year,” added Muir. The average MLS® residential price in the province is forecast to dip 3.9 per cent to $539,400 this year, and increase 1.4 per cent to $547,000 in 2013. Wednesday, May 2, 2012 April 2012 UpdateCategories:Bank Rates,BC Economics,BC Market Update,BC Real estate market,Buyers,Cambie,Canadian Inflation,Downtown VE,Downtown VW,Fairview VW,False Creek,Fraser VE,Grandview VE,Kitsilano,Lance Brown,Main,University VW,Vancityishome,Vancouver East Real Estate,Vancouver Market Update,Vancouver Market Update. 1st Time home Buyers,Vancouver Real,Vancouver Real Estate,Vancouver Real Estate Bubble,Vancouver Real Estate market,Vancouver West Real Estate,West End VW
Monday, March 12, 2012 Feb 2012 Video UpdateTuesday, February 21, 2012 January 2012Categories:Bank Rates,BC Economics,BC Real estate market,Lance Brown,Vancouver East Real Estate,Vancouver Market Update,Vancouver Real,Vancouver Real Estate,Vancouver Real Estate Bubble,Vancouver Real Estate market,Vancouver West Real Estate,West End VW Selection broadens and demand eases to kick off 2012 in the
Greater Vancouver housing market VANCOUVER, B.C. – February 6, 2012 – Greater Vancouver home sellers were more active than buyers in January and overall home prices, according to the new MLS® Home Price Index (MLS® HPI), continued to experience more stability and less fluctuation compared to the beginning of 2011. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,577 on the Multiple Listing Service® (MLS®) in January 2012. This represents a 4.9 per cent decrease compared to the 1,658 sales recorded in December 2011, a decrease of 13.3 per cent compared to the 1,819 sales in January 2011 and an 18 per cent decline from the 1,923 home sales in January 2010. January sales in Greater Vancouver were the second lowest January total in the region since 2002, though only 146 sales below the 10-year average. “We’re seeing trends emerge in our market that favour buyers, such as increased selection and more stability in pricing compared to this time last year,” Rosario Setticasi, REBGV president said. “Last month’s activity tells us that competition amongst home buyers was reduced in January, which means that individuals looking to purchase a home had more time to do their homework, consult with their REALTOR®, and make a decision.” New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,756 in January. This represents a 19.9 per cent increase compared to the 4,801 new listings reported in January 2011, and a 253.3 per cent increase compared to the 1,629 new listings reported in December 2011. Last month’s new listing count was the highest January total in Greater Vancouver since 1995. The total number of properties currently listed for sale on the Greater Vancouver MLS® is 12,544, a 12.5 per cent increase compared to December 2011 and an increase of 20.2 per cent compared to January 2011. Monday, January 30, 2012 BCREA Housing ForecastCategories:BC Economics,BC Real estate market,Lance Brown,Vancityishome,Vancouver East Real Estate,Vancouver Market Update,Vancouver Real,Vancouver Real Estate,Vancouver Real Estate market,Vancouver West Real Estate,West End VW Average Performance for Housing Market in 2012 Vancouver, BC – January 27, 2012. The British Columbia Real Estate Association (BCREA) released its 2012 First Quarter Housing Forecast Update today.
BC Multiple Listing Service® (MLS®) residential sales are forecast to increase 2.1 per cent from 76,817 units in 2011 to 78,400 units this year, increasing a further 2.7 per cent to 80,500 units in 2013. The 15-year average is 79,000 unit sales. A record 106,310 MLS® residential sales were recorded in 2005. "While European sovereign debt concerns and a sluggish US economy will continue to impact consumer confidence, strong demand in the bond market is expected to keep mortgage interest rates at or near record lows for most of 2012,” added Muir. Home prices in most BC markets are forecast to experience little change over the next 24 months as the supply of homes for sale more closely matches consumer demand. The average MLS® residential price in the province is forecast to edge down 2.2 per cent to $548,500 this year and remain relatively unchanged in 2013, albeit increasing 0.8 per cent to $553,000. Thursday, December 8, 2011 Video Housing UpdateCategories:BC Real estate market,Cambie,Downtown VE,Downtown VW,Fairview VW,False Creek,False Creek North,Fraser VE,Grandview VE,Kitsilano,Lance Brown,Main,Marpole,Mount Pleasant VE,Mount Pleasant VW,Out of Town,Out of Town Real Estate,Port Moody Centre,Port Moody Real Estate,University VW,Vancityishome,Vancouver East Real Estate,Vancouver Market Update,Vancouver Real,Vancouver Real Estate,Vancouver Real Estate Bubble,Vancouver West Real Estate,West End VW Thursday, December 8, 2011 November UpdateCategories:BC Real estate market,Downtown VE,Downtown VW,Fairview VW,False Creek,False Creek North,Fraser VE,Grandview VE,Kitsilano,Lance Brown,Main,Marpole,Mount Pleasant VE,Mount Pleasant VW,University VW,Vancityishome,Vancouver East Real Estate,Vancouver Market Update,Vancouver Real,Vancouver Real Estate,Vancouver Real Estate Bubble,Vancouver West Real Estate,West End VW Historically normal activity keeps the Greater Vancouver housing market in a balanced state
VANCOUVER, B.C. – December 2, 2011 – The Greater Vancouver housing market saw relatively typical home sale and listing activity in November. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,360 in November. This represents a 5.9 per cent decline compared to the 2,509 sales in November 2010 and a 1.9 per cent increase compared to the 2,317 sales recorded in October 2011. Looking back further, last month’s residential sales total is 5.8 per cent below the ten-year average for sales in November. “The pace of home listings entering the market eased slightly in November, compared to recent months, while sale levels remained fairly normal for this time of year,” Rosario Setticasi, REBGV president said. “November activity helped put our market firmly in balanced territory.” New listings for detached, attached and apartment properties in Greater Vancouver totalled 3,222 in November. This represents a 26.3 per cent decline compared to the 4,374 new listings reported in October 2011, but a 6.3 per cent increase compared to November 2010 when 3,030 properties were listed for sale on the MLS®. Looking back further, last month’s new listing total is 2.1 per cent above the ten-year average for November. The total number of properties currently listed for sale on the Greater Vancouver MLS® sits at 14,090, a decline of 9 per cent compared to October 2011 but an increase of 13 per cent when compared to this time last year. The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 7.2 per cent to $622,087 in November 2011 from $580,080 in November 2010. Since reaching a peak in June of $630,921, the benchmark price for all residential properties in the region has declined 1.4 per cent. Sales of detached properties on the MLS® in November 2011 reached 916, a decrease of 12.8 per cent from the 1,050 detached sales recorded in November 2010, and a 21.3 per cent decrease from the 1,164 units sold in November 2009. The benchmark price for detached properties increased 11.4 per cent from November 2010 to $890,204. Sales of apartment properties reached 1,000 in November 2011, a 4.9 per cent decrease compared to the 1,052 sales in November 2010, and a decrease of 28.4 per cent compared to the 1,396 sales in November 2009. The benchmark price of an apartment property increased 2.7 per cent from November 2010 to $399,686.
Attached property sales in November 2011 totalled 444, a 9.1 per cent increase compared to the 407 sales in November 2010, and a 15.1 per cent decrease from the 523 attached properties sold in November 2009. The benchmark price of an attached unit increased 4.5 per cent between November 2010 and 2011 to $510,960. Monday, November 21, 2011 Home Sales UpdateCategories:BC Real estate market,Downtown VE,Downtown VW,Fairview VW,Mount Pleasant VE,Mount Pleasant VW,University VW,Vancityishome,Vancouver East Real Estate,Vancouver Market Update,Vancouver Real,Vancouver Real Estate,Vancouver West Real Estate,West End VW Home Sales Climb Higher Outside Vancouver Vancouver, BC – November 15, 2011. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential unit sales in the province rose 6.5 per cent to 5,865 units in October compared to the same month last year.
The average MLS® residential price was up 2.6 per cent to $535,695 last month compared to October 2010. 
"BC home sales rose three per cent in October compared to September on a seasonally adjusted basis," said Cameron Muir, BCREA Chief Economist. "While consumer demand in Vancouver edged lower last month on a year-overyear basis, strong increases were recorded in the Fraser Valley, Kamloops, Kootenay, the North and on Vancouver Island."
"Total active residential listings in the province declined by 3,360 units in October from September. However, active listings were up 6.9 per cent from October 2011," added Muir. "Market conditions remained slightly in favour of home buyers last month."
Year-to-date, BC residential sales dollar volume increased 16.8 per cent to $38 billion, compared to the same period last year. Residential unit sales increased 3.5 per cent to 66,922 units, while the average MLS® residential price rose 12.9 per cent to $566,925 over the same period. Categories: | B | Bank Rates | Bank Rates, Canadian Interest Rates | BC | bc e | BC Economics | BC Market U | BC Market Update | BC Market Update, Vancouver Real Estate | BC Real | BC Real estate market | BCREA | Brighouse South, Richmond Real Estate | Buyers | Cambie | Cambie, Vancouver West Real Estate | Canadian Inflation | Canadian Interest Rates | Downtown VE | Downtown VE, Vancouver East Real Estate | Downtown VW | Downtown VW, Vancouver West Real Estate | Fairview VW | Fairview VW, Vancouver West Real Estate | False Creek | False Creek North | False Creek North, Vancouver West Real Estate | False Creek, Vancouver West Real Estate | Fraser VE | Fraser VE, Vancouver East Real Estate | Fraserview VE, Vancouver East Real Estate | Grandview VE | Grandview VE, Vancouver East Real Estate | Housing Forecast | Interest Rates | Kitsilano | Kitsilano, Vancouver West Real Estate | Lance Brown | m | Main | Main, Vancouver East Real Estate | Marpole | Marpole, Vancouver West Real Estate | Mount Pleasant VE | Mount Pleasant VE, Vancouver East Real Estate | Mount Pleasant VW | Mount Pleasant VW, Vancouver West Real Estate | Out of Town | Out of Town Real Estate | Out of Town, Out of Town Real Estate | Port Moody Centre | Port Moody Centre, Port Moody Real Estate | Port Moody Real Estate | rate | The Crest, Burnaby East Real Estate | University VW | University VW, Vancouver West Real Estate | Vancityis | Vancityishome | Vancouver East Real Estate | Vancouver Market Update | Vancouver Market Update. 1st Time home Buyers | Vancouver Real | Vancouver Real Estate | Vancouver Real Estate Bubble | Vancouver Real Estate market | Vancouver West Real Estate | West End VW | West End VW, Vancouver West Real Estate | Yaletown | Yaletown, Vancouver West Real Estate |
BC Multiple Listing Service® (MLS®) residential sales are forecast to edge down 4 per cent to 73,400 units this year, before increasing 7.5 per cent to 78,900 units in 2013. Since 2009, MLS® residential sales in BC have ranged between 74,000 to 78,000 units. A record 106,300 MLS® residential sales were recorded in 2005.
BC Multiple Listing Service® (MLS®) residential sales are forecast to edge down 2.2 per cent to 74,800 units this year, before increasing 4.9 per cent to 78,500 units in 2013. Since 2009, annual home sales in the province have hovered in the 74,000 to 78,000 unit range. A record 106,300 MLS® residential sales were recorded in 2005.
“Modest economic growth at home and abroad is expected to limit growth in consumer demand both this year and in 2013,” said Cameron Muir, BCREA Chief Economist.Simple Searches
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