VANCOUVER, BC – December 4, 2023– With one month left in 2023, a steady increase in housing inventory is offering home buyers across Metro Vancouver¹ among the largest selection to choose from since 2021.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential sales² in the region totalled 1,702 in November 2023, a 4.7 per cent increase from the 1,625 sales recorded in November 2022. This was 33 per cent below the 10-year seasonal average (2,538).

“We’ve been watching the number of active listings in our market increase over the past few months, which...

Vancouver, BC – November 14, 2023. The British Columbia Real Estate Association (BCREA) reports that a total of 5,373 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in October 2023, an increase of 1.8 per cent from October 2022. The average MLS® residential price in BC was $968,786 up 4.1 per cent compared to October 2022. The total sales dollar volume was $5.2 billion, representing a 6 per cent increase from the same time last year.

“Home sales have slowed as expected given high borrowing costs and a punishing stress test,” said...

VANCOUVER, BC – November 2, 2023 – An increase in newly listed properties is providing more choice to home buyers across Metro Vancouver¹ , but sales remain below long-term averages.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential sales² in the region totalled 1,996 in October 2023, a 3.7 per cent increase from the 1,924 sales recorded in October 2022. This total is 29.5 per cent below the 10-year seasonal average (2,832) for October.

“With properties coming to market at a rate roughly five per cent above the ten-year seasonal average, there...

Vancouver, BC – October 25, 2023. The British Columbia Real Estate Association (BCREA) released its 2023 Fourth Quarter Housing Forecast today.

Multiple Listing Service® (MLS®) residential sales in BC are forecast to decline 4.8 per cent to 76,700 units this year. In 2024, MLS® residential sales are forecast to post a modest rebound, rising 4.8 per cent to 80,375 units.

“Activity in the BC housing market has mirrored movements by the Bank of Canada over the past two years,“ said Brendon Ogmundson, Chief Economist. “As such, there is little reason to believe...

Vancouver, BC – October 12, 2023. The British Columbia Real Estate Association (BCREA) reports that a total of 5,531 residential unit sales were recorded in Multiple Listing Service® (MLS® ) systems in September 2023, an increase of 10.4 per cent from September 2022. The average MLS® residential price in BC was $966,530 up 4.8 per cent compared to September 2022. The total sales dollar volume was $5.3 billion, representing a 15.7 per cent increase from the same time last year.

“Home sales in BC have clearly been impacted by the Bank of Canada's recent tightening of interest...

VANCOUVER, BC – October 4, 2023 – The month-over-month price gains seen earlier this year abated in the Metro Vancouver¹ housing market in September due to a seasonal decline in sales and a modest increase in inventory levels across the region.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales² in the region totalled 1,926 in September 2023, a 13.2 per cent increase from the 1,701 sales recorded in September 2022. This was 26.3 per cent below the 10-year seasonal average (2,614).

“A key dynamic that we’ve been watching this year has...

Vancouver, BC – September 13, 2023. The British Columbia Real Estate Association (BCREA) reports that a total of 6,608 residential unit sales were recorded in Multiple Listing Service® (MLS® ) systems in August 2023, an increase of 15.7 per cent from August 2022. The average MLS® residential price in BC was $958,424, up 5.2 per cent compared to August 2022. The total sales dollar volume was $6.3 billion, representing a 21.7 per cent increase from the same time last year.

“Home sales are starting to settle back into a trend of below-normal activity following an unexpected...

VANCOUVER, BC – September 5, 2023 – As summer winds to a close, higher borrowing costs have begun to permeate the Metro Vancouver¹ housing market in predictable ways, with price gains cooling and sales slowing along the typical seasonal pattern.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales2 in the region totalled 2,296 in August 2023, a 21.4 per cent increase from the 1,892 sales recorded in August 2022. This was 13.8 per cent below the 10-year seasonal average (2,663).

“It’s been an interesting spring and summer market, to say...

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Vancouver, BC – August 10, 2023. The British Columbia Real Estate Association (BCREA) reports that a total of 7,103 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in July 2023, an increase of 25.9 per cent from July 2022. The average MLS® residential price in BC was $967,948, up 5.6 per cent compared to July 2022. The total sales dollar volume was $6.9 billion, representing a 33 per cent increase from the same time last year.

“Home sales are up significantly since this time last year,” said BCREA Chief Economist Brendon Ogmundson....

VANCOUVER, BC – July 5, 2023 – Continuing the trend that has emerged in the housing market this year, the benchmark price for all home types in Metro Vancouver¹ increased in June as home buyer demand butted up against a limited inventory of homes for sale in the region.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales² in the region totalled 2,988 in June 2023, a 21.1 per cent increase from the 2,467 sales recorded in June 2022. This was 8.6 per cent below the 10-year seasonal average (3,269).

“The market continues to outperform ...

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The British Columbia Real Estate Association (BCREA) reports that a total of 9,191 residential unit sales were recorded in Multiple Listing Service® (MLS® ) systems in May 2023, an increase of 9.9 per cent from May 2022. The average MLS® residential price in BC was $1.02 million up 3 per cent compared to May 2022. The total sales dollar volume was $9.4 billion, representing a 13.2 per cent increase from the same time last year.

“Home sales in May were surprisingly strong,” said BCREA Chief Economist Brendon Ogmundson. “Normally we’d expect to see a more persistent,...

VANCOUVER, BC – June 2, 2023 – While the year started slower than usual, Metro Vancouver’s housing market is showing signs of heating up as summer arrives, with prices increasing for the sixth consecutive month.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,4112 in May 2023, which is a 15.7 per cent increase from the 2,947 sales recorded in May 2022, and a 1.4 per cent decline from the 10-year seasonal average (3,458).

“Back in January, few people would have predicted prices to be up as much as they are –...

The British Columbia Real Estate Association (BCREA) reports that a total of 7,427 residential unit sales were recorded in Multiple Listing Service® (MLS® ) systems in April 2023, a decrease of 17.7 per cent from April 2022. The average MLS® residential price in BC was 995,506 down 5.6 per cent compared to the average price of close to $1.1 million in April 2022. The total sales dollar volume was $7.4 billion, representing a 22.5 per cent decrease from the same time last year.

“BC home sales have now risen for three consecutive months, but that recovery in sales has not been matched...

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VANCOUVER, BC – May 2, 2023 – 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 the region totalled 2,741 in April 2023, a 16.5 per cent decrease from the 3,281 sales recorded in April 2022, and 15.6 per cent below the 10-year seasonal average (3,249). 

“The...