Mortgage Matters: Is balance returning to the housing market?
Posted on May 28, 2019
As you probably already know, for the first time in five years, Vancouver is now a buyer's market. With Canadians reporting the housing market as balanced between buyers and sellers.
The makeup of homebuyers has also seen a distinct change from the more traditional trend of buying with a partner/spouse.
Now, 28 per cent of homebuyers are planning to...
Evening Update: Defending the mortgage stress test; Canada-China relations
Posted on May 24, 2019
Mortgage stress tests protect Canada from potential housing crash and financial crisis, head of national housing agency says.
Federal policy makers shouldn’t give in to calls to soften the mortgage stress test rule because it is protecting Canada from a housing crash and financial crisis. The head of Canada Mortgage and Housing Corp., Evan Siddall...
Vancouver Detached Real Estate Sales Drop To 20 Year Low, Prices Roll Back 3 Years
Posted on May 20, 2019
Greater Vancouver detached real estate is still spiraling. Real Estate Board of Greater Vancouver (REBGV) numbers show sales dropped to a 20 year low in April. The decline in sales is combining with a multi-year high for inventory. The result is Greater Vancouver detached prices are now at the lowest level in three years.
Greater Vancouver Detached...
Vancouver housing may be down but not out, Vancity CEO says
Posted on May 08, 2019
The housing numbers out of Vancouver, once among the world’s hottest real estate markets, are getting more dismal with each passing month.
Typically April is a month that kicks off the homebuying season in Vancouver, yet this April 2019, had the lowest sales in 24 years. The Benchmark prices are down 8.7 per cent from their peak in mid-2018, and the...
Vancouver's 'hostile' housing market nears significant declines, warns PIMCO's Devlin
Posted on May 04, 2019
A prominent fund manager is sounding the alarm over Canada’s most expensive real estate market, saying housing prices in Vancouver may be decelerating at a faster-than-expected pace.
Ed Devlin, who is the head of Canadian portfolio management at Pacific Investment Management Co. (PIMCO), told BNN Bloomberg that he’s taking a closer look at the Vanco...
Analysis: Only 43 Metro Vancouver homes over $7M have sold in past year
Posted on May 04, 2019
All of the 43 homes were sold below asking price, averaging 16 per cent off list, as the region’s high-end homes fail to sell.
The Metro Vancouver real estate market is clearly cooling down, and nowhere is this happening faster than in the high-end detached home sector, an analysis of MLS data reveals.
In the Metro Vancouver region, which is located...