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

18/00/2021
How businesses are trying to survive the pandemic through crowdfunding
Chris Venutolo

More than a year into COVID-19, some small businesses are going beyond accessing government supports and urging customers to buy local with many requesting donations through online fundraising just to stay alive until they can fully reopen.

More...
Who opens a new tourist attraction during a pandemic? Meet Canada's most optimistic entrepreneurs
gondola

Several Canadian entrepreneurs are plunging ahead to launch new tourist attractions, despite surging COVID-19 cases in some regions. They say they can't press pause on projects started before the pandemic, and are pinning their hopes on vaccinations turning the tide — ideally before summer holiday season.

More...
U.S. safety regulator issues warning about Peloton's Tread+ treadmill
Peloton logo on the side of a stationary bicycle

U.S. safety regulators warned people with kids and pets Saturday to immediately stop using a treadmill made by Peloton after one child died and nearly 40 others were injured.

More...
The real winners of Thursday's CRTC decision? Telecom companies, observers say
ROGERS cellphone

Some telecommunications analysts and consumer advocates say the country's regional wireless and internet carriers will benefit the most from a landmark regulatory ruling Thursday by the CRTC.

More...
More than 200 travellers fined for refusing to quarantine in hotels after landing in Canada
QUARANTINE HOTELS PEARSON

As of March 30, 219 tickets have been issued to air passengers entering Canada who refused to quarantine at a designated hotel. Some travellers say they defied the rules because they felt it was safer to quarantine at home.

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.