Real Estate Roundup Blog – Insights, Trends, and Tips for Buyers and Sellers

$80K Secondary Suite Loan Program Interest Rate: 2%!

Posted on Jan 06, 2025 in Homeowner Incentives

Attractive young couple planning their basement suite renovation

Increased Loan Limit for Secondary Suites

Launching in early 2025, the Canada Secondary Suite Loan Program will raise its loan cap to $80,000, doubling the previous $40,000 limit. This expansion will make it easier for homeowners to secure low-interest financing for creating secondary suites, including:

Converting basements into rental apartments.
Tra...

November 2024 Market Statistics

Posted on Dec 04, 2024 in Statistics

As the holiday season approaches, the market is showing some interesting dynamics. Traditionally, December sees a slower pace as people focus on holiday plans, family gatherings, and festive events. However, this year has been anything but typical!

October’s sales exceeded the 10-year average, and November kept up the momentum. Now, December is star...

2024 - 2025 Real Estate Outlook for GVR, FVREB, and VIREB

Posted on Nov 06, 2024

Real Estate Market Analysis and Forecast: October 2024

Market Trends Across Metro Vancouver, Fraser Valley, and Vancouver Island

Demand Rebound with Balanced Markets: Across all three regions, October 2024 showed a notable increase in sales, largely driven by recent interest rate cuts from the Bank of Canada. Metro Vancouver saw a 31.9% increase in s...

October 2024 Market Statistics

Posted on Nov 06, 2024 in Statistics

October 2024 real estate statistics for GVRD, FVREB, and VIREB including average home prices, sales volume, and active listings

Well, well, well. The political and financial climate has changed pretty radically over last month. Both the Bank of Canada and the US Fed have lowered their base interest rates by 50 points or 0.50% each, citing low inflation and economic growth. Both are expected to continue this downward trend in subsequent meetings.

The expectation of this cut h...

September 2024 Market Statistics

Posted on Oct 04, 2024 in Statistics

September 2024 real estate statistics for GVRD, FVREB, and VIREB including average home prices, sales volume, and active listings

As we move deeper into the fall, with crisp mornings and shorter days becoming more noticeable, the real estate market remains sluggish, most notably through late summer and early fall. It’s clear that potential buyers without homes to sell first are waiting for anticipated further reductions in mortgage rates. Meanwhile, sellers are facing stiff c...

August 2024 Market Statistics

Posted on Sep 05, 2024 in Statistics

Multiboard Statistics for VIREB, GVR, and FVREB for August 2024

We hope that everyone had an enjoyable summer and had a chance to celebrate the season with friends and family while the weather was clear.

Condo inventories have surged by 40%, and townhouse inventories by 44% since August of 2023 in the GVR, with similar patterns occurring in other regions.

Despite the rise in condo inventories, falling average pr...

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