Blog

RE/MAX 2018 Housing Market Outlook

  • This past year saw the single-family detached home and condo markets diverge on distinctly different paths in Canada’s two highest-priced real estate markets: Greater Vancouver and the Greater Toronto Area
  • As oil prices continue to stabilize, both Calgary and Edmonton have experienced modest average residential sale price increases in 2017
  • The new OSFI mortgage qualification rules that come into effect on Jan. 1, 2018 impacted housing market activity toward the end of this year and are expected to slow activity in real estate markets across Canada in the first part of 2018
  • Canadians continue to look for balance between affordability and amenities outside of major urban centres

Continue reading

Thank You

“Surround yourself with Great People and Great things will happen”. Thank you to all our Sponsors, Donors, Owners, Fellow Realtors, Support Staff and the most amazing RE/MAX Social Committee that made The RE/MAX Big Give Golf tournament and BBQ a reality.

Over $20,000 was raised for BC Children’s Hospital Foundation!

Metro Vancouver sees fewer home sales and more listings in July

Home buyer activity returned to more typical summer levels in Metro Vancouver last month.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,960 in July 2017, an 8.2 per cent decrease from the 3,226 sales recorded in July 2016, and a decrease of 24 per cent compared to June 2017 when 3,893 homes sold.

Last month’s sales were 0.7 per cent above the 10-year July sales average.

“Housing demand is inconsistent across the region right now. Pockets of the market are still receiving multiple offers and others are not. It depends on price, property type, and location,” Jill Oudil, REBGV president said. “For example, it’s taking twice as long, on average, for a detached home to sell compared to both townhomes and condominiums.”

Continue reading