Category: Uncategorized
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Greater Vancouver Condos: Prices Flat, Sales Slump
Home sales in Metro Vancouver were significantly lower both MoM and yearly in June 2024. The number of condos sold in June 2024 ↓ 20.9% yearly, reaching 1,245 units.
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Detached Home Sales in Greater Vancouver Dip as Market Cools
Home sales in Metro Vancouver were significantly lower both MoM and yearly in June 2024. This decrease is attributed to hesitant buyers despite the recent interest rate cut by the BoC.
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Why Vancouver Housing Favours Buyers in Late-Q2
In June 2024, there were 2,395 home sales in Greater Vancouver, a decrease from previous years and months. New listings increased to 5,723, contributing to a total of 13,605 active listings.
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Province issues West Vancouver 30-day notice to conform with housing rules
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Vancouver: New TOA Rezoning Policy Requirements
Vancouver's new TOA Rezoning Policy will guide rezoning applications and clarify City expectations. The policy proposes increasing minimum density near SkyTrain stations to 5.50 FSR for better development.
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Pod Power: Can Tiny Rooms Solve Vancouver’s Big Problem?
Creative Solution: Vancouver City Council is facilitating conversions of vacant office space into pod hotels. Demand for Hotels: Vancouver faces a shortage of 10K hotel rooms, driving up accommodation prices.
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New interest rate will not impact Vancouver housing market
Bank of Canada's interest rate cuts may not significantly impact the housing market. Lower interest rates could lead to better mortgage rates, but home prices are unlikely to decrease much due to high demand. First-time buyers still need a substantial down payment. Home prices are expected to remain stable in 2024 but could rise in…
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Vancouver Sets Goal of 83,000 New Home Approvals by 2033
The City of Vancouver disagrees with the provincial government's method of tracking new housing supply. Vancouver prefers tracking approvals (when permits are granted) instead of completions (when homes are built).
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Vancouver considers putting housing before mountain views
Vancouver city council will debate easing view protection rules to allow more construction, potentially adding 200 million square feet for housing, hotels, and offices. The proposal aims to maximize housing delivery, including affordable options. Some councillors argue current view cones are car-centric and not pedestrian-friendly. The staff report doesn't guarantee more affordable housing if view…
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Vancouver home sales fall
Greater Vancouver's real estate board reported a 19.1% drop in home sales in June compared to last year, with inventory levels not seen since 2019. Metro Vancouver saw a 42% increase in homes listed for sale. Calgary also experienced a 12.8% decrease in home sales, with prices up 8.5% from last year. The U.S. economy…