Real Estate SnapShot

Metro Vancouver home sales decline below historical averages in 2018

Posted on Jan 03, 2019

Metro Vancouver home sales in 2018 were the lowest annual total in the region since 2000.

The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties reached 24,619 on the Multiple Listing Service® (MLS®) in 2018, a 31.6 per cent decrease from the 35,993 sales recorded in 2017, and a 38.4 per...

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Canadian Housing Starts November 2018 Update

Posted on Nov 08, 2018

Canadian housing starts increased 9 per cent on a monthly basis in October to 205,925 units at a seasonally adjusted annual rate (SAAR).  The trend in Canadian housing starts continued to moderate lower, averaging 206,000 units SAAR over the past six months. 

In BC, total housing starts rebounded slightly in October after a sharp September decline. T...

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Has an overzealous B.C. government imperilled 12,000 rental units?

Posted on Oct 16, 2018

The British Columbia government is coming down hard on landlords, including condo investors, and there’s mounting fear that 12,000 much-needed rental units in Metro Vancouver are imperilled.

David Goodman, principal of HQ Commercial and one of the Goodman Report’s publishers, told CREW that the units, which total around $5bln, might not get built if...

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B.C.'s first rental-only zoning bylaw takes shape

Burnaby council passes first reading of a new framework for its zoning bylaws, as expert warns of challenges

Posted on Oct 12, 2018

As the City of Burnaby charges ahead with plans to become the first B.C. municipality to use new rental zoning powers, a local housing expert warns the plan is likely to run into unexpected challenges.

“It’s the first one on the beach that gets shot,” said Andy Yan, director of Simon Fraser University’s City Program.

The province gave B.C. municipali...

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CMHC releases Sept. housing starts data

Posted on Oct 09, 2018

The annual pace of Canadian housing starts fell to their lowest level in nearly two years in September.

Canada Mortgage and Housing Corp. says the seasonally adjusted annual rate came in at 188,683 units last month, down from 198,843 in August.

Thomson Reuters Eikon says economists had expected an annual rate of 210,000 for September.

September marks...

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More supply and less demand seen across Metro Vancouver housing market

Posted on Oct 02, 2018

The supply of homes for sale continued to increase across the Metro Vancouver* housing market in September while home buyer demand remained below typical levels for this time of year.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 1,595 in September 2018, a 43.5 per cent decrease fro...

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