Welcome to 2024!
We hope you all had a fantastic holiday season, and that your new year is starting off with a bang! For all you sci-fi fans out there, we are now living almost 9 years after Back to the Future 2, 5 years after Blade Runner took place, and we're only 4 years away from 12 Monkeys!
 
As expected, December was a slow month with a total of 1,336 sales in Greater Vancouver. This figure was 3% higher than the same time last year. Currently, detached homes favour buyers at 12%, while condos and townhouses slightly favour sellers at 22%. Overall, the region is balanced at 18%.
 
Although these numbers may seem as bleak as a summer's day in Blade Runner, there are signs that things might be starting to shift.

Stable Rates & Increased Buyer Activity
We noticed an uptick in buyer activity shortly after the Bank of Canada made its rate announcement. This was especially true in the Fraser Valley and is reflected in the Sales-To-Active Ratios, which increas ...

2023 in the Review Mirror
It feels like just yesterday I was wrapping up my last year in review, and here we are again, ready to delve into the highs and lows of another eventful year in real estate.

Chapter 1 - A Rocky Start
The year started off with a fizzle with January being one of the slowest months on record with only 1,031 total sales for Greater Vancouver; less than half the sales from January '21! The preceding months hadn't been a walk in the park either, with a fall market that barely materialized and quickly sputtered out as interest rates continued to climb.

However, a glimmer of hope appeared in early February. Buyers, enticed by the allure of significant discounts and stable rates, made a swift comeback. In the blink of an eye, prime deals were snatched-up, and inventory levels plummeted. This set the stage for the next chapter.

Chapter 2 - Where have All the Houses Gone?
The market swiftly transformed from a bust to a boom, with buyers scramblin! ...

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Welcome to the world of real estate, where dreams of home ownership can sometimes be met with the challenge of mortgage qualification. If you find yourself in a position where the numbers seem to be working again ...