February 2023

Housing Market Activity Off to a Slow Start in 2023

Posted on Feb 14, 2023 in BC Real Estate Update

The British Columbia Real Estate Association (BCREA) reports that a total of 3,047 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in January 2023, a decrease of 50.3 per cent from January 2022. The average MLS® residential price in BC in 2023 has seen a dip to $872,934, down 16.1% compared to the average price of o...

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Housing Market Update for January 2023 (Video)

Posted on Feb 10, 2023 in Market Insights Videos

Looking forward, the Bank of Canada has said that it will pause further rate increases as long as the incoming economic data continues to support this policy stance. This should provide more certainty for home buyers and sellers in the market.

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Home sales decline below long-term averages and inventory remains low to start 2023

Posted on Feb 02, 2023 in Vancouver Update

Tim Wray Vancouver Real Estate

Inventory remains low in Metro Vancouver while home sales dipped well below monthly historical averages in January.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,022 in January 2023, a 55.3 per cent decrease from the 2,285 sales recorded in January 2022, and a 21.1 per cent decrease f...

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