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In Metro Vancouver, after a quieter first half of 2019, home buyer activity has returned to more historically typical levels. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,498 in November 2019, a 55.3% increase from the 1,608 sales recorded in November 2018, and a 12.6% decline from the 2,858 homes sold in October 2019.
Last month’s sales were 4% above the 10-year November sales average.

In Fraser Valley, a combination of unseasonably high demand and declining supply reinforced the real estate market in November. The Fraser Valley Real Estate Board processed 1,405 sales of all property types on its Multiple Listing Service® (MLS®) in November, a 36.7% increase compared to the 1,028 sales in November of 2018, and 11.7% decrease compared to sales in October 2019.

November 2019 - Vancouver & Fraser Valley Real Estate Reports

Greater Vancouver: Metro Vancouver home sales return to historically typical levels
Fraser Valley: Unusual end-of-year demand for Fraser Valley real estate

Highlighted 5 year fixed rates must close by December 31, 2019

B.C. creates a new Crown agency to regulate the real estate industry

The B.C. government has established a single Crown agency tasked with regulating the province’s real estate industry called the BC Financial Services Authority (BCFSA). 

Vancouver proposes 2020 budget with 8.2% property tax increase

Vancouver homeowners will be hit by an 8.2 per cent property tax hike next year if city council approves its $1.6 billion draft budget for 2020.

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