The first month of 2022 saw home sales come down from last year’s record-setting pace, while low supply continued to cause home prices to edge higher across Metro Vancouver.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,285 in January 2022, a 4.4 per cent decrease from the 2,389 sales recorded in January 2021, and a 15 per cent decrease from the 2,688 homes sold in December 2021.
Last month’s sales were 25.3 per cent above the 10-year January sales average.
The Lunar New Year in 2022 is on February 1st, and we are celebrating the Year of Tiger.Year of Tiger signifies courage, bravery, and strength! May we all join together to go through these pandemic challenges, and climate change, and have a positive outlook always!
My friends and clients have asked me about the BC Assessment Statement they have received earlier in January. Please consider the following items when reading your statement.
1) The assessment was done on or before July 1, 2021.
2) Assessed value reflects property’s physical condition and permitted use as of October 31, 2021.
3) The information about properties is collected when permits are pulled from the city in regards to renovations.
4) Comparable home sales in the area are used based on lot size, age of homes, and total finished floor areas.
Not all the assessments are accurate. For example, if the home has been significantly renovated with permits, and the city has not pulled the information out, then the value on improvements may not be reflected on the assessed home value.
If you feel that the assessment is not accurate and would like to appeal. The deadline to file a notice of complaint (appeal) is January 31st, 2022. Check the statement for all the required information in regards to filing an appeal. Website: www.bcassessment.ca
The real estate market across Canada has increased substantially over the last 12 months.
If you would like to know what is the current value of your home or rental property in today’s market, please feel free to contact me by email, text, or phone call. I am here to help.
Global News today announced that the Bank of Canada will provide for the first time next week its estimate of economic growth in the current quarter.
“We think the Bank of Canada will be revising down their Q1 forecast in January as we’ve just done, but in terms of the impact (of shutdowns) on inflation that’s not as clear,” said Josh Nye, senior economist at Royal Bank of Canada.
Money market data on Monday showed the chances of the Bank of Canada announcing a rate hike on Jan. 26 has increased to nearly 70 percent after a central bank survey of businesses pointed to higher wage pressures.
Below is an excerpt from an article published by the Real Estate Board of Greater Vancouver on January 5,2022. Feel free to contact me for your real estate related questions.
Metro Vancouver home sales reached an all-time high in 2021 as housing needs remained a top priority for residents in the second year of the COVID-19 pandemic.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 43,999 in 2021, a 42.2 per cent increase from the 30,944 sales recorded in 2020, a 73.6 per cent increase from the 25,351 homes sold in 2019, and a four per cent increase over the previous all-time sales record of 42,326 set in 2015.
The following article is published by the Real Estate Board of Greater Vancouver on December 2, 2021. Planning to sell or buy any real estate, contact Eva Li for a private consultation.
As we near the end of 2021, home buyer demand remains well in excess of long-term averages and the supply of homes for sale continues to decline across Metro Vancouver’s housing market.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,428 in November 2021, an 11.9 per cent increase from the 3,064 sales recorded in November 2020, and a 1.9 per cent decrease from the 3,494 homes sold in October 2021.
Last month’s sales were 33.6 per cent above the 10-year November sales average.
After more than a year of living under the global pandemic crisis, our family, our community and our world would need our kindness, more than ever. Front line workers have been working extra shifts. With the crazy heat wave in the summer, forest wild fires and recent mudslides and flooding in BC, many families have been ravaged, livelihoods have been destroyed. People are claiming that our government is not paying enough attention to the climate change. It’s time to be kind. Our family, our community and our Planet Earth need our kindness today, more than ever. According to the experts, when we help others, the hypothalamus in our brain would release a hormone called Oxytocin which has the effect to soothe ourselves in response to sources of pain and stress. It can potentially increase the feelings of generosity, forgiveness, trustworthiness, joy and security.
Home sale activity in Metro Vancouver remained above historical averages in October while the overall supply of homes for sale dipped to levels not seen in three years.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,494 in October 2021, a 5.2 per cent decrease from the 3,687 sales recorded in October 2020, and an 11 per cent increase from the 3,149 homes sold in September 2021.
Last month’s sales were 22.4 per cent above the 10-year October sales average.
Published by the Real Estate Board of Greater Vancouver on October 4, 2021. Please contact Eva Li for your real estate questions.
Home sale activity remains elevated across Metro Vancouver’s housing market while the pace of homes being listed for sale continues to follow long-term averages.
While home buyers have remained active in Metro Vancouver throughout the summer, the supply of homes for sale has declined steadily since June.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,152 in August 2021, a 3.4 per cent increase from the 3,047 sales recorded in August 2020, and a 5.2 per cent decrease from the 3,326 homes sold in July 2021.
Last month’s sales were 20.4 per cent above the 10-year August sales average.
