|
|
|
|
|
|
REBGV January 2012 stats package, new MLS® Home Price Index, Stats Centre and updated REBGV Stats site
Click here to view the full REBGV stats package for January 2012
Check out the new statistics tools for Board members!
Three new statistics projects we’ve been working on have gone live within the last week: the new MLS® Home Price Index (MLS® HPI), REBGV Stats Centre, and the redesigned statistics page on REALTORLink.ca.
“Board statistics are so valuable because they truly are the best, most accurate real estate statistics out there,” Rosario Setticasi, Board president said. “These new projects will improve the way REALTORS® can access and get value from our statistics.”
Here are some of the highlights for each of these new projects:
The new MLS® HPI
Developed by five of the largest real estate boards in Canada (Greater Vancouver, Fraser Valley, Calgary, Toronto and Montreal) in partnership with the Canadian Real Estate Association (CREA), the new MLS® HPI launched today.
The new MLS® HPI replaces our old MLS®Link HPI, and because there are some notable changes to the index in the Greater Vancouver market, new index data should not be compared with old index data.
Most notably, the new MLS® HPI is indexed to January 2005, where the old MLS®Link HPI was indexed to 2001. One of the key reasons for differences between the old and the new index is that benchmark home attributes used to define “typical” properties within specific areas have also been updated.
The main property types tracked by the new MLS® HPI will be detached, townhome, and apartment, as well as composite (a combined total of all three property types). There is also an expanded set of property categories and a Lower Mainland (combined Greater Vancouver and Fraser Valley real estate board areas) category that can be used to track residential activity across all property types in specific areas within the region.
REBGV Stats Centre
REBGV Stats Centre is an interactive web tool that allows you to quickly and easily find 10 different types of statistical information at the push of a button. Simply choose an area, select the statistic you’re looking for, and the program instantly creates the relevant charts and graphs for that specific criteria.
REBGV Stats Centre also allows you to easily package and send the information you generate in a variety of formats: PDFs, emails and posts to social media websites like Facebook, Twitter or LinkedIn.
The redesigned statistics page on REALTORLink.ca
The statistics site on REALTORLink.ca has undergone a major redesign. The new site is more visually intuitive and easier to navigate. All of the major statistics we provide are available there, including Board-wide stats, region by region stats, sale price information, and commercial reports from other industry sources.
Tabs for each section make navigation easier, and each section of the redesigned page has links to information and help documents. There is also an FAQ section with links to the documents.
If you have any questions about any of these new statistics resources, contact the Help Desk at 604.730.3020. If you have any feedback about any of these new resources, contact Eileen Day at eday@rebgv.org or 604.730.3028. | |
|
|
Average Performance for Housing Market in 2012
BCREA 2012 First Quarter Housing Forecast Update
Vancouver, BC – January 27, 2012. The British Columbia Real Estate Association (BCREA) released its 2012 First Quarter Housing Forecast Update today.
 “Modest economic growth at home and abroad is expected to limit growth in consumer demand both this year and in 2013,” said Cameron Muir, BCREA Chief Economist.
BC Multiple Listing Service® (MLS®) residential sales are forecast to increase 2.1 per cent from 76,817 units in 2011 to 78,400 units this year, increasing a further 2.7 per cent to 80,500 units in 2013. The 15-year average is 79,000 unit sales. A record 106,310 MLS® residential sales were recorded in 2005.
"While European sovereign debt concerns and a sluggish US economy will continue to impact consumer confidence, strong demand in the bond market is expected to keep mortgage interest rates at or near record lows for most of 2012,” added Muir.
Home prices in most BC markets are forecast to experience little change over the next 24 months as the supply of homes for sale more closely matches consumer demand. The average MLS® residential price in the province is forecast to edge down 2.2 per cent to $548,500 this year and remain relatively unchanged in 2013, albeit increasing 0.8 per cent to $553,000.
- 30 -
To view the full BCREA Housing Forecast Update, click here.
Home Sales Increase Last Year
Vancouver, BC – January 13, 2012. The British Columbia Real Estate Association (BCREA) reports that the dollar volume of homes sold through Multiple Listing Service® (MLS®) in BC climbed 14.3 per cent to $43.1 billion in 2011. A total of 76,817 homes were sold in BC in 2011, up 2.9 per cent from 2010. The average annual MLS® residential price climbed 11.1 per cent to $561,026 over the same period. 
"Low mortgage interest rates and gradually improving economic conditions contributed to a moderate increase in consumer demand last year," said Cameron Muir, BCREA Chief Economist. "BC home sales came in about on par with their 15-year average, but fell well below their ten-year average of over 88,000 units."
Vancouver, the Fraser Valley and the North experienced the largest percentage increase in unit sales last year, while consumer demand edged lower in Victoria and on Vancouver Island.
BC residential unit sales in December dipped 1.7 per cent to 4,186 units, while the average MLS® residential price was 2.8 per cent lower than in December 2010. | |
|
|
Balanced real estate market prevailed through much of 2011
The 2011 Greater Vancouver housing market began with heightened demand in regional hot spots and concluded with greater balance between seller supply and buyer demand.
The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment p roperties in 2011 reached 32,390, a 5.9 per cent increase from the 30,595 sales recorded in 2010, and a 9.2 per cent decrease from the 35,669 residential sales in 2009. Last year’s home sale total was 6.3 per cent below the ten-year average for annual Multiple Listing Service® (MLS®) sales in the region.
The number of residential properties listed for sale on the MLS® in Greater Vancouver increased 2.7 per cent in 2011 to 59,549 compared to the 58,009 properties listed in 2010. Looking back further, last year’s total represents a 12.8 per cent increase compared to the 52,869 residential properties listed in 2009. Last year’s listing total was 11.1 per cent above the ten-year average for annual Multiple Listing Service® (MLS®) property listings in the region.
“It was a relatively balanced year for the real estate market in Greater Vancouver with listing totals slightly above historical norms and sale numbers slightly below,” Rosario Setticasi, REBGV president said.
Residential property sales in Greater Vancouver totalled 1,658 in December 2011, a decrease of 12.7 per cent from the 1,899 sales recorded in December 2010 and a 29.7 per cent decline compared to November 2011 when 2,360 home sales occurred.
More broadly, last month’s residential sales represent a 34.1 per cent decrease over the 2,515 residential sales in December 2009, a 79.4 per cent increase compared to December 2008’s 924 sales, and a 12.6 per cent decrease compared to the 1,897 sales in December 2007.
The overall residential benchmark price, as calculated by the MLSLink Housing Price Index®, for Greater Vancouver increased 7.6 per cent to $621,674 between Decembers 2010 and 2011. However, prices have decreased 1.5 per cent since hitting a peak of $630,921 in June 2011.
“Our market remained in a balanced state for most of the year, although higher levels of demand for detached properties in the region’s largest communities caused prices in certain areas to rise higher than others,” Setticasi said. “For example, the benchmark price of a single-family detached home experienced double-digit increases in nine areas within the region over the last 12 months.”
New listings for detached, attached and apartment properties in Greater Vancouver totalled 1,629 in December 2011. This represents a 4.1 per cent decline compared to the 1,699 units listed in December 2010 and a 49.4 per cent decline compared to November 2011 when 3,222 properties were listed.
Sales of detached properties in December 2011 reached 630, a decrease of 18.1 per cent from the 769 detached sales recorded in December 2010, and a 30.2 per cent decrease from the 902 units sold in December 2009. The benchmark price for detached properties increased 11.2 per cent from December 2010 to $887,471.
Sales of apartment properties reached 774 in December 2011, a decline of 4.6 per cent compared to the 811 sales in December 2010, and a decrease of 32.9 per cent compared to the 1,154 sales in December 2009.The benchmark price of an apartment property increased 3.7 per cent from December 2010 to $401,396.
Attached property sales in December 2011 totalled 254, a decline of 20.4 per cent compared to the 319 sales in December 2010, and a 44.7 per cent decrease from the 459 attached properties sold in December 2009. The benchmark price of an attached unit increased 4.2 per cent between December 2010 and 2011 to $511,499.
Download the complete stats package by clicking here. |
|
|
| 
For the complete news release, including detailed statistics, click here. For immediate release
Déjà Vu in November Housing Market
Vancouver, BC – December 14, 2011. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential unit sales in the province remained relatively unchanged in November compared to the same month last year. A total of 5,640 units were sold last month compared to 5,647 units in November 2010. The average MLS® residential price was up 1.1 per cent to $529,140 in November compared to the same month last year.
"BC home sales continued to gain ground in November,” said Cameron Muir, BCREA Chief Economist. “After waning during the first half of the year, consumer demand has steadily increased since the summer months, bringing home sales within seven units of the November 2010 level."
"Low mortgage interest rates remain a key driver in the housing market, helping to maintain affordability and purchasing power,” added Muir.
Year-to-date, BC residential sales dollar volume increased 15.5 per cent to $41 billion, compared to the same period last year. Residential unit sales increased 3.2 per cent to 72,632 units, while the average MLS® residential price rose 11.9 per cent to $563,991 over the same period.
|
Email