Team Fazi Real Estate

Because you count as 1

Tel: (778) 899-8829 |

Latest Market Update

    According to the February report by Real Estate Board of Greater Vancouver (REBGV), home listings continue to increase in the Metro Vancouver housing market, while home buyer activity remains below historical averages. The total number of homes currently listed for sale on the MLS® system in Metro Vancouver shows about 55% increase compared to January 2018.


    Residential home sales in the region totaled in January 2019, decreased by almost 40% compare to the same month in 2018. Last month’s sales were the lowest January-sales total since 2009.


    Sales-to-active listings ratio for January 2019 were approximately 7% for detached homes, 12% for townhomes and 14% condominiums. Generally, downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period.


    This explains the more pronounced price adjustment that we have been experiencing in the past few months for single detached homes compare to townhomes and apartments.


    Today’s market conditions are largely the result of the mortgage stress test that the federal government imposed at the beginning of last year,” Moore said. “This measure, coupled with an increase in mortgage rates, took away as much as 25 per cent of purchasing power from many home buyers trying to enter the market.

Comments:
No comments

Post Your Comment:

CBC | Business News

27/35/2021
GameStop's stock run hits 1000% as 2 Wall Street short sellers admit defeat and bail out at huge loss
Andrew Left

A pair of professional investment firms that placed big bets that money-losing video game retailer GameStop's stock will crash have admitted defeat in the David vs. Goliath battle that has seen retail investors on Reddit drive shares to record high after record high — forcing billions of dollars in losses to Wall Street firms along the way.

More...
Air Transat cancelling all flights out of Toronto for duration of winter season
Air Transat acquisition by Air Canada

Montreal-based Air Transat says it is suspending all flights out of Toronto for the remainder of the winter season.

More...
GameStop shares almost double again as retail investors poke Wall Street's bears
GameStop mask

Individual investors again piled into several niche stock market plays on Tuesday, prompting hedge fund short sellers to scramble to cover losing bets and driving a rally in shares of companies including GameStop and Etsy.

More...
BlackBerry shares see-saw after setting 9-year high on Monday
BlackBerry John Chen self driving

A day after hitting their highest point since 2011, shares in Canadian tech company BlackBerry went on another wild ride Tuesday, jumping up when stock markets opened before see-sawing into positive and negative territory.

More...
Go carbon neutral or get left behind, world's biggest money manager warns companies
BlackRock-Climate Change

Larry Fink, chief executive of the world's biggest asset manager BlackRock , warned the companies it invests in on Tuesday they will need to show a game plan for surviving in a world aiming for net-zero carbon emissions by mid-century.

More...
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.