March 2023 Greater Vancouver Real Estate Market Insights

Welcome to the March 2023 episode of the Presale Pulse, a real estate show brought to you by hosts Ryan Lalonde and Suzana Goncalves.

FEBRUARY PRE-SALE REAL ESTATE MARKET INSIGHTS

“A sense of careful optimism is in the air, as pricing in the resale market stabilized for the first time in over 9 months, and as the Bank of Canada paused rate hikes for the first time in over 8 meetings.

While it has been well discussed the impact labour – and specifically its shortages – has on real estate construction, the relationship between the labour market at large and the real estate market’s economic standing deserves to be further unpacked.

The recently released MLA Intel 2023 report is the newest edition of MLA Canada’s comprehensive analysis on the pre-sale market in British Columbia.

According to BC Stats, the Okanagan population is projected to increase by 25% over the next 20 years. This growth is driven by both natural increase and in-migration from other parts of Canada and around the world.

December 2022 Greater Vancouver Real Estate Market Insights

Welcome to the January 2023 episode of the Presale Pulse, a real estate show brought to you by hosts Ryan Lalonde and Suzana Goncalves.

Vancouver is a city where residents are facing sky-high real estate prices, yet it also boasts the highest percentage of households without mortgages in Canada. According to recent data from Statistics Canada, an incredible 50% of Vancouver owner households are mortgage-free.

It may come as no surprise that construction costs play a significant part in determining house prices, representing over a third of the costs that factor into a development.