Buyers and investors alike have adopted a cautious stance towards Vancouver\u2019s real estate assets for most of 2018, which the city\u2019s real estate board attributed as the main driver of slower overall activity.<\/p>\n
In November, the market\u2019s sales volume fell 42.5% year-over-year, bringing it to a level 34.7% below the 10-year average, according to the latest numbers from the Real Estate Board of Greater Vancouver.<\/p>\n
Don\u2019t forget your CREW <\/em>subscription this holiday season. This followed a pronounced decrease in demand for the city\u2019s residential properties in October. In its report, the Canadian Real Estate Association stated that Vancouver\u2019s sales-to-new-listings ratio fell by 26.22% annually during that month to reach 48.4.<\/p>\n Read more: <\/p>\n Complicating matters is the fact that only 1 out of 10 people currently renting in the city are planning to buy their own homes next year, a problematic prospect in a market with a demand level that is the 3rd lowest in Western Canada.<\/p>\n \u201cWhile homebuying intentions are up among current home buyers [14% in 2017 to 19% this year], this has been offset by weaker intentions among current renters \u2013 the latter being the primary pool for potential first-time buyers. Affordability remains a challenge for first-time buyers in the Vancouver market,\u201d according to the Altus Group\u2019s Vancouver Flash Report 2018.<\/em><\/p>\n REBGV data indicated that the benchmark price of the market\u2019s detached homes as of November was just over $1.5 million, while apartments were at $667,800 (2.3% annual decrease).<\/p>\n \u00a0<\/p>\n Related stories:<\/strong><\/em><\/p>\n \u00a0<\/p>\n","protected":false},"excerpt":{"rendered":" Buyers and investors alike have adopted a cautious stance towards Vancouver\u2019s real estate assets for most of 2018, which the city\u2019s real estate board attributed as the main driver of slower overall activity. In November, the market\u2019s sales volume fell 42.5% year-over-year, bringing it to a level 34.7% below the 10-year average, according to the […]<\/p>\n","protected":false},"author":5,"featured_media":20746,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/8116"}],"collection":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/comments?post=8116"}],"version-history":[{"count":2,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/8116\/revisions"}],"predecessor-version":[{"id":21583,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/8116\/revisions\/21583"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/media\/20746"}],"wp:attachment":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/media?parent=8116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/categories?post=8116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/tags?post=8116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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