VANCOUVER, B.C. – July 3, 2014 – The Greater Vancouver housing market enters the
summer season with home buyer activity on the rise.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in
Greater Vancouver reached 3,406 on the Multiple Listing Service® (MLS®) in June 2014. This
represents a 28.9 per cent increase compared to the 2,642 sales recorded in June 2013, and a 3.7
per cent increase compared to the 3,286 sales in May 2014.

Last month’s sales were 0.6 per cent above the 10-year sales average for June of 3,386.
“Competition amongst home buyers today is as strong as it’s been in the region since 2011,” Ray
Harris, REBGV president said.

The sales-to-active-listings ratio currently sits at 21.3 per cent in Greater Vancouver, which is the
highest this measure has been since June 2011.

“Over the last three years, we’ve seen changes in demand yet home prices at the regional level
have remained relative stability,” Harris said. “While these numbers provide high level trends,
it’s important to know that changes in prices always vary depending on neighbourhood and
property type. "

The MLS® Home Price Index composite benchmark price for all residential properties in Metro
Vancouver is currently $628,200. This represents a 4.4 per cent increase compared to June 2013.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,339
in June. This represents a 9.5 per cent increase compared to the 4,874 new listings in June 2013
and a 10.1 per cent decline from the 5,936 new listings in May. Last month’s new listing count
was 2.6 per cent below the region’s 10-year new listing average for the month.

The total number of properties currently listed for sale on the MLS® system in Greater
Vancouver is 16,011, a 7.4 per cent decline compared to June 2013 and a 0.4 per cent decrease
compared to May 2014.

Sales of detached properties in June 2014 reached 1,462, an increase of 32.7 per cent from the
1,102 detached sales recorded in June 2013, and a 58.7 per cent increase from the 921 units sold

in June 2012. The benchmark price for detached properties increased 6.2 per cent from June
2013 to $976,700.

Sales of apartment properties reached 1,308 in June 2014, an increase of 22.5 per cent compared
to the 1,068 sales in June 2013, and a 27.5 per cent increase compared to the 1,026 sales in June
2012. The benchmark price of an apartment property increased 2.4 per cent from June 2013 to
$378,000.

Attached property sales in June 2014 totalled 636, a 34.7 per cent increase compared to the 472
sales in June 2013, and a 53.3 per cent increase over the 415 attached properties sold in June
2012. The benchmark price of an attached unit increased 3.1 per cent between June 2013 and
2014 to $471,200.
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SOURCE: Real Estate Board of Greater Vancouver

VANCOUVER, B.C. – March 4, 2014 – In the first two months of 2014, the Greater
Vancouver housing market has maintained the steady pace set throughout 2013.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in
Greater Vancouver reached 2,530 on the Multiple Listing Service® (MLS®) in February 2014.
This represents a 40.8 per cent increase compared to the 1,797 sales recorded in February 2013,
and a 43.8 per cent increase compared to the 1,760 sales in January 2014.

Last month’s sales total mirrors the 10-year sales average for February of 2,547, with just 17
sales separating the two figures.

The sales-to-active-listings ratio currently sits at 18.9 per cent in Greater Vancouver, a 4.9 per
cent increase from last month.

“Home buyer demand picked up in February, which is consistent with typical seasonal patterns
in our housing market,” said Sandra Wyant, REBGV president. “We typically see home buyers
become more active in and around the spring months.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,700
in February. This represents a 2.8 per cent decline compared to the 4,833 new listings reported in
February 2013 and a 12.1 per cent decline from the 5,345 new listings in January. Last month’s
new listing count was 0.5 per cent below the region’s 10-year new listing average for the month.

The total number of properties currently listed for sale on the Greater Vancouver MLS® is
13,412, a 9.3 per cent decline compared to February 2013 and a 6.4 per cent increase compared
to January 2014.

“With the market continuing to perform at a steady, balanced pace, it’s important for home
sellers to ensure their homes are priced correctly for today’s conditions,” Wyant said.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro
Vancouver is currently $609,100. This represents a 3.2 per cent increase compared to February
2013.

Sales of detached properties in February 2014 reached 1,032, an increase of 46.6 per cent from
the 704 detached sales recorded in February 2013, and a 6.3 per cent decrease from the 1,101 units sold in February 2012. The benchmark price for detached properties increased 3.5 per cent
from February 2013 to $932,900.

Sales of apartment properties reached 1,032 in February 2014, an increase of 35.8 per cent
compared to the 760 sales in February 2013, and a 1.2 per cent increase compared to the 1,020
sales in February 2012. The benchmark price of an apartment property increased 3.6 per cent
from February 2013 to $373,300.

Attached property sales in February 2014 totalled 466, an increase of 39.9 per cent compared to
the 333 sales in February 2013, and a 9.9 per cent increase from the 424 attached properties sold
in February 2012. The benchmark price of an attached unit increased 0.6 per cent between
February 2013 and 2014 to $458,300.


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Source: The Real Estate Board of Greater Vancouver

The Provincial goverment has made a small improvement in the PTT (Property Transfer Tax) for first time home buyers. To see if you qualify, see the following link;

http://www2.gov.bc.ca/gov/topic.page?id=BBD16E2D7C1841A7BBD420E3AC5380F1&title=First%20Time%20Home%20Buyers%20Program

Check out the latest Vancouver Sun report about 2014 price forcasting... nice header too with my listing prominently displayed!

http://www.vancouversun.com/business/Real+estate+experts+cautious+about+Metro+Vancouver+predicted+cent+price+increase/9369906/story.html

For immediate release

Vancouver, BC – November 15, 2013.  The British Columbia Real Estate Association (BCREA) reports that a total of 6,673 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC during October, up 26.5 per cent from October 2012. Total sales dollar volume was 34.5 per cent higher than a year ago at $3.6 billion. The average MLS® residential price in the province was $540,432, up 6.3 per cent from October 2012.

"The fall housing market is shaping up to be the most active in four years,” said Cameron Muir, BCREA Chief Economist. “Persistently low mortgage interest rates and an element of pent-up demand have driven home sales higher in the province’s large Lower Mainland and Vancouver Island markets."

"While the rebound in consumer demand has been significant, home sales are trending near the long-term average and any continued acceleration will depend on stronger economic and employment growth,” added Muir.

Year-to-date, BC residential sales dollar volume was up 8.2 per cent to $33.6 billion, compared to the same period last year. Residential unit sales were up 5.1 per cent to 63,020 units, while the average MLS® residential price was up 2.9 per cent at $533,321.

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Source: BC REA  (B.C. Real Estate Association)

Home buyer and seller activity continues to mirror historical averages in the Greater Vancouver housing market. These trends have helped keep the region in a balanced state for the last nine months.

For immediate release

Housing Market Rebound to Extend Into 2014
BCREA 2013 Fourth Quarter Housing Forecast

Vancouver, BC – October 22, 2013.The British Columbia Real Estate Association (BCREA) released its 2013 Fourth Quarter Housing Forecast today.

BC Multiple Listing Service® (MLS®) residential sales are forecast to increase 6 per cent to 71,700 units this year, before increasing a further 6.3 per cent to 76,200 units in 2014. The five-year average is 74,600 unit sales, while the ten-year average is 86,800 unit sales. A record 106,300 MLS® residential sales were recorded in 2005.

"Consumer demand has bounced back after waning for most of 2012,” said Cameron Muir, BCREA Chief Economist. “With higher interest rates on the horizon, many potential homebuyers are choosing to lock in a mortgage sooner rather than later. However, rather than signaling a return to frenetic home buying activity and accelerating markets, consumer demand is simply transitioning back to its long term average."  

The average MLS® residential price forecast for the province has been revised upward from a 3.3 to a 4.3 per cent increase to $537,100 this year, as a result of stronger than expected market conditions in Vancouver. The average MLS® residential price in BC is forecast to increase a further 2.1 per cent to 548,200 in 2014.

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See the Globe & Mail article that describes what's happening across the country and some usefull insights on whats happening here in Vancouver. 

Note the comments regarding "stealing volume" due to fear in the market place regarding interest rates rising. 

http://www.theglobeandmail.com/report-on-business/economy/housing/home-sales-surge-in-september/article14675391/

While the number of home sales in Greater Vancouver continue to trend below the 10 year average in May, the balance of sales and listings meant continued market stability this spring. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,882 on the Multiple Listing Service® (MLS®) in May 2013. This represents a one per cent increase compared to the 2,853 sales recorded in May 2012, and a 9.7 per cent increase compared to the 2,627 sales in April 2013.

Home sales continue at below average pace - VANCOUVER, B.C. – March 4, 2013 – Home sale activity has trended below historical averages for a full year in the Greater Vancouver housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,797 on the Multiple Listing Service® (MLS®) in February 2013. This represents a 29.4 per cent decrease compared to the 2,545 sales recorded in February 2012, and a 33 per cent increase compared to the 1,351 sales in January 2013.

Last month’s sales were the second lowest February total in the region since 2001 and 30.9 per cent below the 10-year sales average for the month.

“Sales in February followed recent trends and were below seasonal averages, though our members tell us they saw more traffic at open houses last month compared to the previous six to eight months, said Eugen Klein, REBGV president.

The sales-to-active-listings ratio currently sits at 12.2 per cent in Greater Vancouver, a two per cent increase from last month. This is the first time this ratio has been above 11 per cent since June 2012.

“With a two-point increase in our sales to active listings ratio and a reduction in the average number of days it’s taking to sell a home, February showed some subtle indications of a changing sentiment in the marketplace compared to recent months,” Klein said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,833 in February. This represents a 13 per cent decline compared to the 5,552 new listings reported in February 2012 and a 5.8 per cent decline from the 5,128 new listings in January. Last month’s new listing count was 4 per cent higher than the region’s 10-year new listing average for the month.

The total number of properties currently listed for sale on the Greater Vancouver MLS® is 14,789, a 5.2 per cent increase compared to February 2012 and an 11.6 per cent increase compared to January 2013.