Realty Thoughts

July 2022 - Market Statistics

Posted on Aug 03, 2022 in Statistics

Our real estate market rolled into a summer lull. The number of transactions has dropped across all sub-areas (although you may have noticed from our weekly statistics that the west side of Vancouver and Richmond have seen the highest share of deals). Many buyers are still watching the market rather than pulling the trigger as the media and news ar...

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June 2022 - Market Statistics

Posted on Jul 07, 2022 in Statistics

The summer season has begun and we are seeing dramatic changes in the real estate market! Over the last month, housing inventories and interest rates have both increased. Looking at our graphic above, all the arrows are pointing in the direction that are conducive to buyers:
Listing inventory is up so buyers now have many more options to choose from...

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May 2022 - Market Statistics

Posted on Jun 07, 2022 in Statistics

The market continued to move at a slower pace in May while housing inventory increased. Many buyers are choosing to wait on the sidelines in hopes that the market will ease off further. While this might be a reasonable approach, it is hard to predict market sentiment. This more "balanced" market does provide a welcome relief and an opportunity for...

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April 2022 - Market Statistics

Posted on May 09, 2022 in Statistics

The month of April was a turning point for many buyers. April brought the expected increase in interest rates, the government bringing in the proposed 2022 budget that introduced a 2-year ban on foreign buyers and an anti-flipping tax, and continuously increasing inflation that has skyrocketed the cost of building new homes.

April statistics show a...

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March 2022 - Market Statistics

Posted on Apr 08, 2022 in Statistics

We saw a significant increase in new listings on the market in March and some sectors showed signs of a slowing down or, rather, normalizing. It will be interesting to see what the anticipated "cooling-off" period will look like and how it will affect the market. We will be sending more information about it in a separate newsletter.

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February 2022 - Market Statistics

Posted on Mar 08, 2022 in Statistics

Last month, we saw an increase in the number of listings but multiple offers continued in many areas and property classes. Interestingly, in the last week or so, the number of offers on any given property has begun to dwindle and there are even properties that didn't receive any offers on their "offer" date. This is based on our own observations an...

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