Home Buyer Demand Continues to Strengthen in November

VANCOUVER, BC – December 3, 2024

Home sales registered in the MLS® in the Metro Vancouver market rose 28 percent year-over-year in November, building on the momentum of the 30 percent year-over-year increase seen in October.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totaled 2,181 in November 2024, a 28.1 per cent increase from the 1,702 sales recorded in November 2023. This was 12.8 per cent below the 10-year seasonal average (2,500).

“When we saw demand pick up in October, there was still a question over whether it was a blip in the data or the start of an emerging trend,” said Andrew Lis, GVR’s director of economics and data analytics. “While…

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In the heart of Vancouver lies the iconic West End, a vibrant community celebrated for its eclectic charm, lush greenery, and proximity to both the bustling city center and serene waterfronts. If you’re considering a move or investment here, you’ve probably stumbled across MLS West End Vancouver listings. These properties range from cozy apartments to luxurious condominiums, showcasing the neighborhood’s diversity and appeal. But as 2024 unfolds, many prospective residents face a common dilemma: should they rent or buy in this coveted locale?

This guide delves into the pros and cons of both renting and buying, providing insights tailored to Vancouver’s unique real estate landscape.

The Case for Renting in the West End

Renting in the West End…

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Housing Markets Post Strong Rebound in October

Vancouver, BC – November 25, 2024. The British Columbia Real Estate Association (BCREA) reports that 7,119 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in October 2024, up 33.5 per cent from October 2023. The average MLS® residential price in BC in October 2024 was up 0.3 per cent at $970,845 compared to an average price of $968,256 in October 2023.

The total sales dollar volume was $6.9 billion, a 33.8 per cent increase from the same time the previous year. BC MLS® unit sales were eight per cent lower than the ten-year average for October.

“While it took longer than expected, a recovery in home sales to more normal levels has seemingly arrived,” said BCREA…

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Canadian Retail Sales (September 2024)

Date: November 22, 2024

Canadian retail sales rose 0.4 per cent to $66.9 billion in September from the previous month. Compared to the same time last year, retail sales are up by 0.8 per cent. Furthermore, core retail sales, which exclude gasoline and automobile items, rose by 1.4 per cent month-over-month. In volume terms, adjusted for rising prices, retail sales rose 0.8 per cent in September.

For the third quarter of 2024, retail sales rose by 0.9 per cent overall and by 1.3 per cent in volume terms.

Regional Performance

Retail sales in British Columbia were up 0.6 per cent in September month-over-month, while down 0.5 per cent compared to the same time last year. In the CMA of Vancouver,…

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October Inflation Rose to 2.0% As Gasoline Price Declines Were More Muted

The Consumer Price Index (CPI) rose 2.0% year-over-year in October, up from a 1.6% increase in September. Gasoline prices fell to a lesser extent in October (-4.0%) compared with September (-10.7%). The all-items CPI, excluding gasoline, rose 2.2% in October, the same growth rate as in August and September.

The smaller decline is partly attributed to a base-year effect, as prices fell 6.4% month over month in October 2023, stemming from lower refining margins and weaker global oil consumption.

On a monthly basis, prices for gasoline were up 0.7% in October, following a 7.1% decline in September.

Slower Rise in Shelter Prices

Shelter price growth continued to…

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The Canadian Housing Market Shows Signs of Life

Canadian home sales surged to their highest level in more than two years as the Bank of Canada cut interest rates, bringing buyers back into the market. Home sales rose 7.7% month-over-month (m/m) in October, reaching their highest level since April 2022.

Rising home sales were broadly based, with the Greater Toronto Area and British Columbia's Lower Mainland recording double-digit increases in October. The buoyant housing demand was likely the result of the surge in new listings in recent months and the fall in mortgage rates arising from the BoC's easing. The jumbo rate cut, however, was in the last week of October, likely having little bearing on the monthly data released by the Canadian Real…

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Are you on the hunt for the perfect house for sale in West Vancouver? West Vancouver offers an unbeatable mix of stunning natural beauty, high-quality living, and excellent amenities. With its picturesque coastal views, vibrant community, and top-rated schools, it's no wonder why this area is one of the most desirable locations for home buyers in British Columbia.

However, finding the best house for sale in West Vancouver can be overwhelming given the variety of choices and competitive market. Whether you're a first-time buyer or looking to upgrade, this guide will help streamline your search and bring you closer to your dream home.

1. Understand Your Needs and Budget

The first step in your house search is to clearly define your needs and budget.…

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Rising Home Sales: A Sign of Market Shift in the Fraser Valley?

SURREY, BC – Home sales in the Fraser Valley increased for the first time in five months following a sizable interest rate cut by the Bank of Canada in October.

The Fraser Valley Real Estate Board recorded 1,330 sales in October, up 35 per cent from September, and 37 per cent year-over-year.

“After waiting it out on the sidelines for a number of months, buyers seem to be finally responding to the series of successive rate cuts by the Bank of Canada,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “Whether this is an indication of further sales trends, remains to be seen, especially as the feds eye a possible additional cut before year-end.”

New listings…

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Buyer Demand Surges in October

VANCOUVER, BC – November 4, 2024 – After months of tracking approximately twenty percent below the ten-year seasonal average, Metro Vancouver home sales surged more than 30 percent year-over-year in October.

The Greater Vancouver REALTORS® (GVR) reports that residential sales registered on the Multiple Listing Service® (MLS®) in the region totaled 2,632 in October 2024, a 31.9 percent increase from the 1,996 sales recorded in October 2023. This was 5.5 percent below the 10-year seasonal average (2,784).

“Typically, reductions to mortgage rates boost demand, and the strong October sales numbers suggest buyers may finally be responding to lower borrowing costs after waiting on the sidelines for months,” said Andrew…

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Vancouver, known for its vibrant culture, beautiful landscapes, and  evolving real estate market, continues to attract investors from all corners of the globe. With its diverse range of neighborhoods and a strong historical appreciation in property values, investing in apartments in Vancouver presents a compelling case. However, like any investment, it comes with its own set of risks and rewards. This blog post explores whether investing in Vancouver's apartment market is worth your hard-earned money.

Understanding the Vancouver Apartment Market

Market Trends

The real estate market in Vancouver has experienced significant fluctuations over the past decade. Prices have seen a steep upward trajectory due to limited supply and increasing demand,…

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