Sluggish Sales and Rising Inventories See Fraser Valley Moving Toward a Buyer’s Market

SURREY, BC – With active inventories hitting levels not seen in 10 years and sales 30 per cent below the 10-year average, Fraser Valley real estate is building towards a buyer’s market if sales continue to lag.

The Fraser Valley Real Estate Board recorded 982 sales in September, down by eight per cent over August and by more than 10 per cent over September 2023. Again, seasonally adjusted sales were the second slowest in a decade in the Fraser Valley.

“With three rate cuts already and more expected before the end of the year, buyers are watching the market closely to time their purchasing decisions,” said Jeff Chadha, Chair of the Fraser Valley Real Estate…

5 Views, 0 Comments

Read Full Post

VANCOUVER, BC – October 2, 2024 – Home sales registered on the MLS® in Metro Vancouver declined 3.8 per cent year over year in September, suggesting that recent reductions in borrowing costs are having a limited effect in spurring demand so far.

Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totaled 1,852 in September 2024, a 3.8 per cent decrease from the 1,926 sales recorded in September 2023. This figure is 26 per cent below the 10-year seasonal average of 2,502 sales.

“Real estate watchers have been monitoring the data for signs of renewed strength in demand in response to recent mortgage rate reductions, but the September figures don’t offer the signal that many are watching for,” Andrew Lis, GVR’s director of…

4 Views, 0 Comments

Read Full Post

Canada’s multifamily real estate market is facing significant challenges. From a lack of housing supply to inflationary pressures and regulatory hurdles, property managers and Real Estate Investment Trusts (REITs) are grappling with a multifaceted crisis. The pressure to meet growing demand is becoming increasingly difficult to manage, particularly in major cities. Let’s dive into the various obstacles and solutions that define this complex landscape.

The Supply Crunch: A Looming Crisis in Canada’s Real Estate

Demographic Shifts Fueling Demand

Canada’s population is growing rapidly, driven in part by immigration and the sharp rise in student visas. According to experts like Josh Pillsbury, the country simply does not have enough housing to meet…

13 Views, 0 Comments

Read Full Post

If you've been considering buying a home in North Vancouver, now might just be the perfect time to make the leap. With a combination of favorable market conditions, lifestyle benefits, and future growth potential, North Vancouver has become one of the most desirable places to live in the Greater Vancouver area. But why is this the case? Let’s dive into the reasons that make buying a home in North Vancouver such a smart decision right now.

Current Market Conditions

Real Estate Trends in 2024

The real estate market in North Vancouver is experiencing a unique blend of stability and growth. In 2024, the market has seen consistent demand from buyers, which has helped keep prices steady. Unlike the dramatic fluctuations seen in other markets, North…

21 Views, 0 Comments

Read Full Post

Are you on the hunt for the perfect family home? Well, look no further! Burnaby offers some of the most beautiful, family-friendly homes in British Columbia. Whether you're looking for peaceful cul-de-sacs or bustling neighborhoods near top-rated schools, this vibrant city has something for everyone. In this guide, we’ll explore the best family homes for sale in Burnaby and what makes them stand out.

Why Choose Burnaby?

A City of Vibrant Communities

Burnaby is a city full of life and charm. It offers a diverse range of communities, from peaceful residential areas to vibrant urban centers. Whether you're raising toddlers or teenagers, Burnaby’s blend of quiet suburban streets and exciting urban activities will suit your family’s lifestyle…

37 Views, 0 Comments

Read Full Post

Vancouver is a city that pulses with life, especially during the weekends when various festivals and events bring people together. If you’re looking for exciting things to do in Vancouver this weekend, you’re in luck! This guide highlights five must-see festivals happening in the city that promise fun, culture, and unforgettable experiences. Let’s dive into what’s happening this weekend!

1. Vancouver International Film Festival

Overview

The Vancouver International Film Festival (VIFF) is back, showcasing a diverse selection of films from around the globe. This festival is a celebration of cinema, featuring everything from thought-provoking documentaries to captivating dramas and exciting short films. With numerous screenings and events, VIFF…

57 Views, 0 Comments

Read Full Post

The Canadian government has taken a major step toward a sustainable future by introducing the Canada Green Buildings Strategy (CGBS). This strategy is more than just a plan to reduce greenhouse gas (GHG) emissions; it’s a blueprint to help Canadians save on their energy bills, create jobs, and build a stronger economy. Let’s dive into what this strategy is all about and how it will impact Canadians.

What is the Canada Green Buildings Strategy?

At its core, the CGBS aims to improve energy efficiency in Canadian homes and buildings, which is crucial as buildings are the third-largest source of GHG emissions in the country. The strategy focuses on retrofitting existing buildings and ensuring new constructions are energy-efficient from the start. By…

34 Views, 0 Comments

Read Full Post

Are you on the hunt for the perfect townhouse in Vancouver? The city’s real estate market is brimming with opportunities, and if you're looking for a stylish, functional, and spacious home, townhouses are a fantastic option. From the Cambie Corridor to the scenic Fairview slopes, Vancouver offers a wide range of beautiful townhomes that blend modern design with everyday practicality. Let’s take a closer look at what the market has to offer and why a townhouse in Vancouver might just be the home of your dreams!

Why Buy a Townhouse in Vancouver?

Vancouver’s housing market is known for its diversity, and townhouses are becoming increasingly popular for many reasons. Not only do they offer more space than a condo, but they also often come with outdoor…

39 Views, 0 Comments

Read Full Post

Vancouver is known for its vibrant weekend culture, filled with amazing shows, festivals, and experiences. Whether you're into comedy, theater, or family-friendly fun, this weekend's lineup has something for everyone. Let’s dive into some of the top events happening in Vancouver and why you shouldn’t miss out!

The Play That Goes Wrong

Overview

One of the most highly anticipated shows this weekend is The Play That Goes Wrong. It's a hilarious mix of farce and physical comedy that will have you laughing out loud from start to finish. Set around a clumsy group of actors putting on a murder mystery, the production is packed with unexpected mishaps and absurd moments. If you're a fan of slapstick humor, this is the show for you!

Performance…

81 Views, 0 Comments

Read Full Post

The Canadian government recently announced significant changes to mortgage rules, aimed at increasing homeownership accessibility. While these changes are expected to spark greater demand among potential homebuyers, experts caution that supply challenges continue to plague Canada’s housing market.

Overview of Ottawa’s Mortgage Rule Changes

In an effort to address the growing housing crisis, Ottawa introduced mortgage rule changes set to take effect in December. These reforms include raising the price cap for insured mortgages and expanding 30-year mortgage amortization options. These are the first major mortgage reforms in over a decade.

Higher Price Cap for Insured Mortgages

One of the central features of the new mortgage rules is the…

57 Views, 0 Comments

Read Full Post