Canadian home prices are so giant, just the down payment is now prohibitively large. Data from mortgage tech firm LowestRates.ca shows the average down payment by province. Building on their proprietary data, they estimate the amount used as a down payment to buy. The firm found BC has the largest average of any province, coming […]
First-time buyers are said to be driving BC’s residential boom, but that’s not what data shows. BC Government property transfers do reveal more first-time buyers in January. The catch is they failed to grow as quickly as total home sales. First-time homebuyers now represent the smallest part of the market in years. First-Time Buyers Fail […]
Greater Vancouver real estate, once a hot commodity for foreign buyers, is losing appeal. BC’s non-resident homebuyers made a sharp decline in January. That might be a one-off, but last year’s numbers still show a modest drop in foreign buyers. There is an interesting shift in buying behavior though. Greater Vancouver is seeing a smaller […]
Greater Vancouver residents have been fleeing to the country. New Statistics Canada (Stat Can) data shows the migration pattern of people from Vancouver CMA in 2019. Tens of thousands of former residents ditched the city for other parts of the country. Rural B.C. was the biggest winner of former residents, but so were other big […]
B.C. real estate is picking up again, but it’s generally lagging the general market – especially in Vancouver. Canadian Real Estate Association (CREA) data shows all significant markets saw a bump in November. Despite strong monthly gains, the province is generally underperforming the rest of Canada. Greater Vancouver Real Estate Is Still Negative From 3-Years […]
