In this Vancouver real estate market update for October 2023, we explore the impact of increasing property listings and analyze what this means for homeowners, homebuyers, and sellers in the area.
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REBGV – The Million Dollar Wall | The Lede | 004
“Affordability” is a term that has become increasingly prevalent in discussions surrounding housing and real estate over the past decade. Whether you have personal experiences or professional involvement in these areas, you are likely familiar with the complexities associated with this loaded term.
Continue reading →REBGV – Rate hikes and the impact on the Vancouver market | The Lede | 003
Andrew Lis, Director of economics and data analytics for the REBGV, has transformed the data by indexing it to an initial value to compare different cycles over time. By analyzing historical tightening cycles and their impact on sales and prices, Lis predicts that sales might return to normal in about 12 months, while prices could be back to normal in a little over 6 months if the current cycle tracks the ’82 cycle. However, he cautions that anything can happen.
Continue reading →BCREA VIDEO: Home Buyer Rescission Period, What Consumers Need to Know
With the Home Buyer Rescission Period (HBRP) coming into effect on January 3, 2023, BCREA has created a video for REALTORS® to share with their clients to help them understand buyer’s rights during the HBRP.
Continue reading →REBGV – BC government introduces “cooling off” period for home sales
On July 21, the provincial government introduced a home buyer protection period, the details of which are outlined in a new regulation that allows home buyers to back out of a residential purchase up to three business days after signing a contract.
Continue reading →REBGV – BC government to amend Property Law Act to add cooling off period – what you need to know
The BC government introduced legislation on March 28, 2022, known as Bill 12 – 2022, to allow for the creation of a cooling off period that will allow buyers to back out of a purchase after signing a Contract of Purchase and Sale.
Continue reading →REBGV – February 2022 Stats Package
“As we prepare to enter what’s traditionally the busiest season of the year, the Metro Vancouver housing market is seeing more historically typical home sale activity and a modest uptick in home listing activity compared to last year,” Taylor Biggar, REBGV Chair said.
Continue reading →September Market Update
Sales were down in August compared to July, the average composite price was up. Buyers and sellers are comfortable with the new home buying and selling processes. The long weekend has historically meant for a delay to the second or third week of September for the real estate market. We do not see the market slowing down for fall.
Continue reading →Greater Vancouver Sees Biggest Single-Month Surge Of Inventory In Half A Decade
Wondering why the market has been so heated during the pandemic? Condo owners decided they wanted more space after being cooped up and working from home. This set the entry level detached market on fire and we saw a trickle up effect.
Continue reading →Ban on evictions for non-payment of rent ends September 1
What you need to know: On July 16, the provincial government announced details of a repayment framework intended to help landlords and renters, including renters who’ve fallen behind on rent payments, to maintain their housing when the ban on evictions for non-payment of rent is lifted on September 1.
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