or Dam-Collapsing? Sales were driven, in part, by a large number of people working from home and generally spending more time there as everything from travel to restaurant dining remained restricted to control the spread of COVID-19. Could we be in the midst of a Vancouver real estate crash? The Real Estate Board of Greater Vancouver (REBGV) says 1,109 properties changed hands in April 2020 — a 39.4 per cent decrease from April 2019. Detached Price Trend Remains Up, For Now. Sorry, your blog cannot share posts by email. 80. VANCOUVER (NEWS 1130) — Now isn’t the time to buy real estate if someone is willing to wait for a better deal, according to a local analyst who predicts condo prices in the Vancouver area are set to decline for years. Vancouver Real Estate. VANCOUVER — A report from the B.C. He is suggesting that every sale in Canada is voluntary and done by people who just want to switch houses for variety or something, and are completely flexible on timing and financing. Lower Mainland Property Sales are down – December, 2020. Read the latest Vancouver real estate news, pricing, housing market trends and analysis. Vancouver real estate: 2020 sales so far surpass whole of 2018, 2019, and December has just started. House price growth in Metro Vancouver has accelerated through 2020. The CMHC/Siddall position headlined in the next post. Gold. If you need to sell, make sure you price below your competition and deal with offers as they come. But that doesn’t mean opportunist buyers got discounts in Canada’s highest-priced city. Condo for sale. We expect more to come next year. Unfortunately, this is the cruel world we live in. Despite a modest 1% growth in average home price projected for 2020, Vancouver still sits comfortably at the top of the podium as Canada’s most unaffordable city. OECD House Price-To-Rent Index. Why does this bring to mind an image of a line of riot police with linked arms? Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. In a recent market report, the Real Estate Board of Greater Vancouver noted a slowdown in the market toward the end of March 2020 as concerns about COVID-19 intensified. “You know your real estate is in bad shape when there is a game app that displays Vancouver’s Science World and teaches you how to be a money hungry real estate developer.” “It’s sinking in that Vancouver is sinking” – “Westside prices have fallen 17% from 2016 & 11% this year; sales volumes down by 80%; 3 years worth of >$3 Million inventory” Thursday, October 1. Wednesday, September 30. Prices are set at the margin, and there are always forced sellers. I won’t provide the link here because I don’t want to end up in moderation purgatory, but you can find this headline over at the Financial Post: THE UNINTENDED CONSEQUENCES OF DOUBLING THE MINIMUM DOWN PAYMENT ON HOUSES — HAIDER-MORANIS REPORT, Raising the bar for a minimum down payment will exacerbate the fall of housing prices rather than arrest it. News publications like Macleans, The Economist, The Georgia Straight, The Vancouver Sun, throughout all previous historical crisis, have pumped out sensational negative news with headlines such as “Housing Market Crash!, “Canada Housing Market Collapse” and “BC Housing Bubble To Burst“. It will only be a matter of time until Vancouver picks up once again. your password They tried to roll that back, with quantitative tightening (QT) but it didn’t work. Platinum. Vancouver’s SF sales roared in at 57% and the Valley an astounding 71%. In 2008 we did not fall into oblivion. This guy is assuming that COVID will not cause the DEATHS, bankruptcies, divorces, or relocations which trigger the auction-style sale of houses at market price. The “soft landing” that government policymakers were targeting has not materialized, nor have promises of a ‘market crash.’ We believe politicians are hoping to guide the market toward a typical annual real estate cycle with price growth in the range of 1 to 3% annually – in line with income growth. You don’t really have to take my word for it, I mean just look at the graph below: Time and time again had you just bought during each dip, you would have thrived, and today is no difference, because as long as the world keeps printing money, the more it will circulate back to desirable assets – ie. Metro Vancouver’s residential real estate prices continue to creep up Home sales in January 2020 were 42.4 per cent higher than one year previously, reports … In addition to all these real estate statistics, at the bottom of our report is a list of all cities, ranked based on their home sold price, price growth, days on market, and turnover. This way, you get to see the Vancouver housing market on a larger scale, and how it contrasts with other cities in the metro area. Search Lower Mainland homes by features (For both stocks and houses!). READ MORE: HOW TO STAGE YOUR HOME ON A BUDGET AND MAKE IT STUNNING. Is he a new guy? Alberta* Atlantic Montréal Ottawa Québec City Saskatchewan Toronto Vancouver Winnipeg * The Edmonton and Calgary Real Estate Forum are amalgamated into the Alberta Real Estate Forum for 2020 only. ( Log Out /  Home prices continue to grow. 1. Metro Vancouver Real Estate Sales are down only 6.5% compared to last year May 2018, but down about 44% compared to May 2016. 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