Hey there, house hunters and property enthusiasts! We've got some exciting news straight from a November 2, 2023 article in CMP magazine about what's happening in the Vancouver real estate scene. 🌆

So, here's the deal: The Real Estate Board of Greater Vancouver (REBGV) just spilled the beans on the latest happenings, and there's a lot to unpack.

📊 The Stats:

• The number of newly listed properties (think detached homes, townhouses, and apartments) in Metro Vancouver skyrocketed by 15.4% compared to last year. That's a whopping 4,664 listings in October 2023, up from 4,043 in the same month in 2022. 📅
• Currently, there are 11,599 properties listed for sale, a 12.6% increase from last year's 10,305.

📈 Sales Are On the Move:

• Residential sales in Greater Vancouver showed a 3.7% increase when compared to October 2022. While it's great to see an upswing, the 1,996 sales recorded still fell short of the 10-year seasonal average for the month. 🏠

Now, let's talk turkey with Andrew Lis, REBGV’s director of economics and data analytics. 🦃 He's got some insights to share:

🤷‍♂️ "Mixed Results": Andrew Lis acknowledges that the Vancouver housing market is a bit of a puzzle at the moment. While more sellers are showing interest, the sluggish sales hint that the demand might not be as robust as expected at this time of year.

But, here's the silver lining 🌤️ for all you prospective homebuyers! 💰

💪 Affordability: Andrew Lis points out that higher borrowing costs have put some pressure on affordability, but don't fret. The good news is that the pace of price increases has slowed down. With a more balanced market, your purchasing power is holding steady for now.

So, if you've been eyeing that dream home or your very own cozy condo in Vancouver, this could be your moment! 🏠✨

#VancouverRealEstate #HousingMarketUpdate #AffordableHomes #RealEstateNews #PropertyProspects #BuyersMarket 🏘️

Stay tuned for more exciting updates on Vancouver's real estate scene right here! 💼🏡📊

#VancouverMortgageBroker #NorthVancouverMortgageBroker #WestVancouverMortgageBroker #BurnabyMortgageBroker #CoquitlamMortgageBroker #PortMoodyMortgageBroker #NewWestminsterMortgageBroker #SurreyMortgageBroker #LangleyMortgageBroker #AbbotsfordMortgageBroker #MissionMortgageBroker #MapleRidgeMortgageBroker #PittMeadowsMortgageBroker #ChilliwackMortgageBroker #KelownaMortgageBroker #VernonMortgageBroker #VictoriaMortgageBroker #VancouverIslandMortgageBroker #BestMortgageRates #BestMortgageBroker #HomeSweetHome 🏡🍁