Category Archives: data

BC, data, supply

Metro Home Sales Hit 5-Year High

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With more people staying home all the time it seems that the demand for homes is up. The REBGV reports than last month saw sales almost a quarter higher than the 10 year average and a record high for the last 5 years.

“Homebuyer demand has been at near record levels in our region since the summer,” said REBGV chairwoman Colette Gerber.

Sales were up 22.7 per cent from the 2,498 sales recorded in November 2019, but down sharply, 16.9 per cent, from the 3,687 homes sold in October 2020.

Read the full article over at the Vancouver Sun.

BC, data, economy, renting

What do falling rents mean for the condo market?

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Southseacompany posted a few stories about our changing market and dropping rents as some people move away from city cores.

“People are leaving the cores of major cities, including Vancouver, and that has led to some rent drops.”

“The average monthly rent in Vancouver in October for a two-bedroom apartment was the highest in Canada at $2,712, but it was an eight per cent drop from a year earlier, the steepest fall in B.C.”