Share REBGV release – Strong demand has led to a steady rise in Greater Vancouver home prices compared to last year. Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 6.8% to $553,702 from $518,668 in October 2008. “While home prices have been [...]
Share So I guess it’s a better time to buy BRAND NEW homes than second hand in the current market? In Vancouver, most new homes now pay the 7% GST for buyers. The most impressive marketing scheme was in Richmond in which the developer gave up a free Mercedes Benz for each new buyer. But [...]
Share Royal LePage survey – Vancouver’s real estate market is still witnessing a course correction, as prices continued to decrease in the first quarter of 2009, according to Royal LePage’s quarterly House Price Survey. The average price for homes on Vancouver’s West side and East side, North Vancouver and West Vancouver saw an average year-over-year [...]
Share REBGV release – The Metro Vancouver housing market experienced a movement away from volatility and toward stability to start the spring season. Home sales in March 2009 returned to levels witnessed at the beginning of the decade, with 2,265 sales recorded across Metro Vancouver for the month, a 53% increase over February but a [...]
Share On the Scotiabank Real Estate Forum held in Toronto today, experts expect: Residential Outlook — Canada Canadian housing starts totalled 211,056 units in 2008, down about 8% from an average of almost 230,000 units from 2004-2007. Higher multiple-unit construction was offset by a double-digit decline in single-family homes, with most of the falloff in [...]
Share Ipsos Reid poll – According to the recently released Ipsos Reid BC Home Buyers report, four-in-ten (42%) British Columbians expect housing prices to be lower in twelve months, down from 57% in November. Overall, British Columbians are forecasting a 3.0% average drop in home prices in their community, an improvement from the end of [...]
Share BCREA forecast – The global financial crisis and resulting world-wide recession will continue to take their toll on BC housing markets this year. Multiple Listing Service® (MLS®) residential unit sales in the province are forecast to decline 9% to 62,650 units this year. With BC and Canada now in the midst of a recession, [...]
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