Monthly Archives: November 2014

CMHC Latest Canadian Housing Report Profiles Vancouver at Low Risk of Overvaluation

Housing Affordability

Despite high property prices and being oft-cited as Canada’s least affordable housing market, Vancouver real estate is described as “low risk” of overvalution by a Canada Mortgage and Housing Corporation report released November 24.

In its first House Price Analysis and Assessment Framework, which looked at eight major urban centres and which the CMHC aims to expand in future, the … Read More

Housing Demand Ratchets Higher in British Columbia

british columbia

The British Columbia Real Estate Association (BCREA) released its 2014 Fourth Quarter Housing Forecast today.

“Consumer demand has ratcheted up this year and is expected to remain at a more elevated level through 2015,” said Cameron Muir, BCREA Chief Economist. “While historically low mortgage rates support demand, the housing market is also being underpinned by a more robust economy and … Read More

Year-to-Date Home Sales Eclipse 2013 Annual Total

VANCOUVER, B.C. The British Columbia Real Estate Association (BCREA) reports that a total of 7,648 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in October, up 14.6 per cent from October 2013. Total sales dollar volume was $4.4 billion, an increase of 22 per cent compared to a year ago. The average MLS® residential price in the … Read More

Metro Vancouver home sales above average in October

Home sales in the Metro Vancouver* housing market continue to outpace long-term averages for this time of year.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,057 on the Multiple Listing Service® (MLS®) in October 2014. This represents a 14.9 per cent increase compared to the 2,661 sales in October 2013, … Read More