Sophie Mardirossian

Cell: 604-862-3317 |

Yesterday, the Bank of Canada (BoC) hiked the overnight rate 25 basis points to 1.50 per cent, the fourth increase in the last 12 months.


In its release, the Bank noted that the housing market seemed to be stabilizing, and would be able to weather the hike. Some economists agreed with the sentiment, while others argued that there is still cause for concern.


“Of course, beyond the fundamentals, the current economic environment is hardly normal,” writes TD senior economist Brian DePratto,...

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News Release

For Immediate Release:

Home seller supply grows as demand declines

VANCOUVER, BC - July 4, 2018 - With home sale activity dipping below long-term historical averages, the supply of homes for sale in Metro Vancouver* reached a three-year high in June.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,425 in June 2018, a 37.7 per cent decline from the 3,893 sales recorded in June 2017, and a 14.4 per cent decrease compared to...

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For Canadian homeowners looking to boost their property value, a kitchen renovation is the best way to gain the most bang for your buck.


According to a new Royal LePage survey, upgrading a kitchen is considered the top home improvement project, as it has the potential to increase a home’s selling price by more than 12.5 per cent.


The poll surveyed 766 Royal LePage real estate experts across Canada, between June 20 and June 25, 2018.


While a kitchen reno was rated as the top home improvement...

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And just like that, we're already five months into the year! Time sure flies, doesn't it?

As usual, here's the latest on how the market is doing within some areas covered by the Real Estate Board of Greater Vancouver (REBGV)!

For the general Metro Vancouver area however, it appears that the downward trend that we have been seeing in the previous months continues to appear. According to the REBGV's monthly report, we are seeing that the “housing market saw fewer home buyers and more home sellers...

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Although Vancouver condo sales continued to drop in March, almost half of those sales were sold above asking price. Vancouver realtor Steve Saretsky says this confirms that bidding wars are still prevalent in the market, and will likely continue for some time.

 

“We have fewer buyers but those fewer buyers are basically just competing over no supply, so you’re still getting multiple offers,” Saretsky tells BuzzBuzzNews.

 

Last month, a total of 506 condos sold in the city,...

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