News & Tips

With listing activity remaining below historical norms, home sales in Metro Vancouver have mounted a surprising comeback, rising near levels seen last spring, before eight consecutive interest rate hikes eroded borrowing power and brought home sales activity down along with it. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in […]

Spring brings renewed price growth across Metro Vancouver’s housing market while new listings remain dormant Home prices across Metro Vancouver’s housing market showed modest increases in March, while new listings remained below long-term historical averages. March data also indicates home sales are making a stronger than expected spring showing so far, despite elevated borrowing costs. […]

Below average home sales allow inventory to inch upwards February listing data show a continued reluctance among prospective home sellers to engage in Metro Vancouver’s housing market, leading to below-average sales activity. With sales remaining well-below historical norms, the number of available homes for sale in the region have continued inching upwards. The Real Estate […]

Home sales decline below long-term averages and inventory remains low to start 2023   Inventory remains low in Metro Vancouver while home sales dipped well below monthly historical averages in January.   The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,022 in January 2023, a 55.3 per […]

VANCOUVER, BC – January 4, 2023 – After seeing record sales and prices during the pandemic, Metro Vancouver’s housing market experienced a year of caution in 2022 due to rising borrowing costs fueled by the Bank of Canada’s ongoing battle with inflation. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales […]

While typically a quiet month of market activity based on seasonal patterns, November home sale and listing totals lagged below the region’s long-term averages. SALES The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,614 in November 2022, a 52.9 per cent decrease from the 3,428 sales […]

BILL 44 – 2022: BUILDING AND STRATA STATUTES AMENDMENT ACT. On November 24, 2022, the BC Government passed amendments to the Strata Property Act which take immediate effect.   There are three significant changes impacting strata properties: 1. All rental restriction bylaws are removed, except for bylaws restricting short-term rentals such as Airbnb or Vrbo. […]

The B.C. government is extending its speculation and vacancy tax to more communities starting in January 2023. Squamish, Lions Bay, Duncan, North Cowichan, Ladysmith and Lake Cowichan will be added to the list, which already included Metro Vancouver, Greater Victoria, Nanaimo, Lantzville, Abbotsford, Mission, Chilliwack, Kelowna, and West Kelowna. The tax rate is 2% of […]

Non-Canadian and non-Permanent Residents will no longer be able purchase a property in Canada starting January 1, 2023. Here is some key information regarding the Prohibition on the Purchase of Residential Property by Non-Canadian Act: * In an effort to address concerns about housing affordability, the federal government passed a two-year restriction on the purchase […]

Home sale activity across the Metro Vancouver housing market continued to trend well below historical averages in October. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,903 in October 2022, a 45.5 per cent decrease from the 3,494 sales recorded in October 2021, and a 12.8 […]