Check out the videos below to be updated as to the current state of Real Estate in the Lower Mainland
January 2022 Market Insights
The first month of 2022 saw home sales come down from last year’s record-setting pace, while low supply continued to cause home prices to edge higher across Metro Vancouver.
REBGV Economist Keith Stewart provides a summary of the January 2022 housing market statistics.
February 2022 Market Insights
The Metro Vancouver housing market saw steady home sales activity, modest increases in home listings and continued upward trends in pricing in February.
REBGV Chair Taylor Biggar provides a summary of the February 2022 housing market statistics.
March 2022 Market Insights
While down from last year’s record numbers, home sale activity in Metro Vancouver’s housing market remained elevated in March.
"March of 2021 was the highest selling month in our history. This year’s activity, while still elevated, is happening at a calmer pace than we experienced 12 months ago. Home buyers are keeping a close eye on rising interest rates, hoping to make a move before their locked-in rates expire," said Daniel John, Chair, Real Estate Board of Greater Vancouver.
Here's Daniel John's summary of the March 2022 housing market statistics.
April 2022 Market Insights
Home buyer demand in Metro Vancouver returned to more historically typical levels in April.
"Over the last two months, we’ve seen home sales ease down from the record-breaking pace of the last year," said Daniel John, REBGV Chair.
"While still a small sample size, the return to a more traditional pace of home sales that we’ve experienced so far this spring provides hopeful home buyers more time to make decisions, secure financing and perform other due diligence such as home inspections."
Here's Daniel John's summary of the April 2022 housing market statistics.
May 2022 Market Insights
Spring ushers in calmer housing market trends in Metro Vancouver.
After reaching record-setting levels in 2021, home sale activity has returned to more typical seasonal levels in Metro Vancouver this spring due, in large part, to rising interest rates.
"With interest rates rising, home buyers are taking more time to make their decisions in today’s housing market," said Daniel John, Chair, REBGV .
"Home buyers have been operating in a frenzied environment for much of the past two years. This spring is providing a calmer environment, with fewer multiple offer situations, which is allowing buyers to explore their housing options, understand the changing mortgage market, and do their due diligence."
Here's Daniel John's summary of the May 2022 housing market statistics.
June 2022 Market Insights
With interest rates and housing supply increasing, Metro Vancouver home buyers are operating in a changing marketplace to begin the summer season.
"Home buyers have more selection to choose from and more time to make decisions than they did over the past year, said Daniel John, Chair, Real Estate Board of Greater Vancouver.
"Rising interest rates and inflationary concerns are making buyers more cautious in today’s housing market, which is allowing listings to accumulate."
Here's Daniel John's summary of the June 2022 housing market statistics.
July 2022 Market Insights
Metro Vancouver’s housing market has entered a new cycle marked by quieter home buyer demand and a gradual rise in the supply of homes for sale.
"Home buyers are exercising more caution in today’s market in response to rising interest rates and inflationary concerns. This allowed the selection of homes for sale to increase and prices to edge down in the region over the last three months," said Daniel John, Chair, REBGV
"After two years of market conditions that favoured home sellers, home buyers now have more selection to choose from and more time to make their decision,” John said. “In today’s changing housing market, both home buyers and sellers should invest the time to understand what these changes mean for their personal circumstances"
Here's Daniel John's summary of the July 2022 housing market statistics.
January 2022 Market Insights
The first month of 2022 saw home sales come down from last year’s record-setting pace, while low supply continued to cause home prices to edge higher across Metro Vancouver.
REBGV Economist Keith Stewart provides a summary of the January 2022 housing market statistics.
February 2022 Market Insights
The Metro Vancouver housing market saw steady home sales activity, modest increases in home listings and continued upward trends in pricing in February.
REBGV Chair Taylor Biggar provides a summary of the February 2022 housing market statistics.
March 2022 Market Insights
While down from last year’s record numbers, home sale activity in Metro Vancouver’s housing market remained elevated in March.
"March of 2021 was the highest selling month in our history. This year’s activity, while still elevated, is happening at a calmer pace than we experienced 12 months ago. Home buyers are keeping a close eye on rising interest rates, hoping to make a move before their locked-in rates expire," said Daniel John, Chair, Real Estate Board of Greater Vancouver.
Here's Daniel John's summary of the March 2022 housing market statistics.
April 2022 Market Insights
Home buyer demand in Metro Vancouver returned to more historically typical levels in April.
"Over the last two months, we’ve seen home sales ease down from the record-breaking pace of the last year," said Daniel John, REBGV Chair.
"While still a small sample size, the return to a more traditional pace of home sales that we’ve experienced so far this spring provides hopeful home buyers more time to make decisions, secure financing and perform other due diligence such as home inspections."
Here's Daniel John's summary of the April 2022 housing market statistics.
May 2022 Market Insights
Spring ushers in calmer housing market trends in Metro Vancouver.
After reaching record-setting levels in 2021, home sale activity has returned to more typical seasonal levels in Metro Vancouver this spring due, in large part, to rising interest rates.
"With interest rates rising, home buyers are taking more time to make their decisions in today’s housing market," said Daniel John, Chair, REBGV .
"Home buyers have been operating in a frenzied environment for much of the past two years. This spring is providing a calmer environment, with fewer multiple offer situations, which is allowing buyers to explore their housing options, understand the changing mortgage market, and do their due diligence."
Here's Daniel John's summary of the May 2022 housing market statistics.
June 2022 Market Insights
With interest rates and housing supply increasing, Metro Vancouver home buyers are operating in a changing marketplace to begin the summer season.
"Home buyers have more selection to choose from and more time to make decisions than they did over the past year, said Daniel John, Chair, Real Estate Board of Greater Vancouver.
"Rising interest rates and inflationary concerns are making buyers more cautious in today’s housing market, which is allowing listings to accumulate."
Here's Daniel John's summary of the June 2022 housing market statistics.
July 2022 Market Insights
Metro Vancouver’s housing market has entered a new cycle marked by quieter home buyer demand and a gradual rise in the supply of homes for sale.
"Home buyers are exercising more caution in today’s market in response to rising interest rates and inflationary concerns. This allowed the selection of homes for sale to increase and prices to edge down in the region over the last three months," said Daniel John, Chair, REBGV
"After two years of market conditions that favoured home sellers, home buyers now have more selection to choose from and more time to make their decision,” John said. “In today’s changing housing market, both home buyers and sellers should invest the time to understand what these changes mean for their personal circumstances"
Here's Daniel John's summary of the July 2022 housing market statistics.