The Inside Scoop....

By the time the Media reports any significant changes in the real estate market, it is old news to those of us working "inside the trenches".  (All statistics quoted are sourced from the Real Estate Board of Greater Vancouver and relate to the West Side Residential Market only, unless otherwise noted).  Bookmark this page and come back often for news on micro changes in the market and to get a prospective from someone in tune with the market, and in direct contact with buyers and sellers on a daily basis.
 

Tuesday, July 20, 2010 - Bank of Canada Hikes Key Interest Rate Today

The Bank of Canada hiked its key interest rate by .25 today, for the second month in a row, and most lending institutions are expected to raise their prime lending rates in response.  This will affect those with variable rate mortgages, however, fixed rate mortgages are not affected by today's rate announcement.  Mortgage holders or potential borrowers should consult with their mortgage professional to figure out the best strategy as it relates to their personal financial situation.

posted in Market News at Tue, 20 Jul 2010 13:03:38 -0700

Monday, July 12, 2010 - Vancouver Westside Housing Prices

It feels like the summer of 2008.  In the first 2 quarters this year, housing prices on the Westside continued to rise, due to a lack of inventory, pent up demand, and low mortgage rates.  April, May and June brought a large number of listing to the market at the same time that buyers were nearing the end of the deadline before a change in mortgage qualification rules.  Prices have peaked in June, and are on a softening trend.  The latest Housing Price Index by the Real Estate Board of Greater ... Full Article...

posted in Market News at Mon, 12 Jul 2010 09:05:55 -0700

Saturday, July 3, 2010 - Vancouver Westside Market Update - Week Ending July 2/10

Over the past week, there has been a 6% decrease in the total inventory of homes for sale in Vancouver's Westside.  In fact, the number of new listings hitting the market has been declining every week in the month of June.  In March, April and May, there was a significant rise in listing inventory, but that seems to be stabilizing or perhaps dropping.  With that said, the total inventory today is at 3,516 units.  Fixed mortgage rates dropped slightly, and prices have stablized over the past mon ... Full Article...

posted in Market News at Sat, 03 Jul 2010 08:15:50 -0700

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