Vancouver Real Estate Market Update for OCTOBER 2024

September saw the third-lowest sales in 12 years and a record 41% spike in new listings, bringing inventory to its highest since July 2014. Will easing mortgage rules stir demand?

Sales:
⬇️ 4% from Sept 2023
⬇️ 26% below the 10-year seasonal average

New Listed Homes for Sale:
⬆️ 31% from Sept 2023
⬆️ 24% above the 10-year seasonal average

HPI Benchmark Price : $1,179,700 for all homes across Greater Vancouver
⬇️ 2% from Sept 2023
⬇️ 1.4% from Aug 2024

🙋🏻‍♀️ Cari Mai PREC*
📲 604-727-9922

#vancouverrealtor #vancouverrealestate #oakwyn #realtorlife #homesweethome #investmentproperty #vancouverhomes #vanre #yvr

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[roncgc]

Canadian household debt just reached the $ 3 trillion mark. Canadian household credit card debt is at the highest level in history. Bloomberg and the IMF as examples have called the Canadian real estate bubble the biggest in the world. Household income versus average house prices in Vancouver are at multiples of 22. The idea multiple is 4 to 6.
The BoC is doing everything it can to save the market and it all starts with the CPLie.
Sell if you can, buyers keep your hands in your pockets.

[jamierose]

Everyone was hoping for a bang?
Everyone, AKA realtors. 😂Asking a realtor if it's time to buy is like asking an alcoholic if he wants a drink. You know before you ask.

[billferguson]

Nope. Not at all. A major crash is now underway.