Found 2 blog entries tagged as Stats 2023.

Competition among buyers in Metro Vancouver’s housing market heats up as summer arrives

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. 

“Back in January, few people would have predicted prices to be up as much as they are – ourselves included,” the REBGV’s director of economics and data analytics said. “Our forecast projected prices to be up modestly in 2023 by about two per cent at year-end. Instead, Metro Vancouver home prices are already up about six per cent or more across all home types at the midway point of the year.” 

SALES TO ACTIVE LISTINGS RATIO
Across all detached, attached and apartment property…

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PRICES CONTINUE RISING ACROSS METRO VANCOUVER AS HOME BUYER CONFIDENCE RETURNS

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 fact we are seeing prices rising and sales rebounding this spring tells us home buyers are returning with confidence after a challenging year for our market, with mortgage rates roughly doubling,” Lis (the REBGV Director of Economics) said. “The latest MLS HPI® data show home prices have increased about [5%] year-to-date, which already outpaces our forecast of [1-2%] by…

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