Vancouver Market Update - September 2024

Posted on Oct 02, 2024

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

Greater Vancouver REALTORS® (GVR)2 reports that residential sales in the region totalled 1,852 in September 2024, a 3.8 per cent decrease from t...

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Canadian government raises insured mortgage cap, expands 30-year amortizations

Posted on Sep 17, 2024

The federal government has unveiled sweeping changes to Canada’s mortgage system, calling them the “boldest reforms in decades.”


Key measures include raising the insured mortgage limit to $1.5 million, which will expand access for Canadians in high-priced housing markets. That’s an increase from the current insured mortgage cap of $1 million.
Additio...

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Bank of Canada Drops Rate Again

Posted on Sep 04, 2024

This morning, the Bank of Canada (BoC) issued its third consecutive 0.25% rate cut, reducing the policy rate from 4.50% to 4.25%. This decision comes as the BoC continues its effort to combat economic slowdown, with variable mortgage rates immediately dropping by the same margin.However, while this move may offer temporary relief to borrowers, it o...

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Lower Mainland's commercial real estate market down in the first quarter of 2023

Posted on Jun 29, 2023

Commercial real estate sales and dollar volumes had a slow start to 2023, with year-over-year declines across all property types.
 There were 273 commercial real estate sales in the Lower Mainland in Q1 2023, a 58.1 per cent decrease from 651 sales in Q1 2022, according to data from Commercial Edge, a commercial real estate system operated by the Re...

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Foreclosures in British Columbia -  What You Need to Know

Posted on Mar 14, 2023


Navigating the Foreclosure process in British Columbia can be difficult.  Most people are unaware of the pitfalls that can happen while trying to chase a "good deal" through the purchase of a foreclosure property.
In this five part series I'll unpack the Foreclosure process in British Columbia. I'll discuss the difference between Foreclosures and ot...

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Presales Are The New Hot Topic Again

Posted on Mar 01, 2023

Presales have become a common practice in the real estate market of Vancouver, British Columbia. Presales, also known as pre-construction sales, refer to the sale of properties before they are built. In Vancouver, developers offer presales for a range of residential properties, including condos, townhouses, and single-family homes.

Presales are att...

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