News Release
FOR IMMEDIATE RELEASE: 
 
Home buyer demand increases across Greater Vancouver housing 
market 
 
VANCOUVER, B.C. – June 3, 2014 – An increase in home buyer demand put Greater 
Vancouver in the upper reaches of a balanced real estate market in May. 
 
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in 
Greater Vancouver reached 3,286 on the Multiple Listing Service® (MLS®) in May 2014. This 
represents a 14 per cent increase compared to the 2,882 sales recorded in May 2013, and a 7.7 
per cent increase compared to the 3,050 sales in April 2014. 
 
Last month’s sales were 6.5 per cent below the 10-year sales average for May of 3,514. 
 
The sales-to-active-listings ratio currently sits at 20.4 per cent in Greater Vancouver, which is the 
first time that this measure has been above 20 per cent since June 2011. 
 
“Our MLS® statistics tell us that there’s more home buyer demand today than at any point over 
the last three years,” Ray Harris, REBGV president said. “With sales surpassing the 3,000 mark 
in May and our sales-to-active-listing ratio exceeding 20 per cent, this is the most active 
marketplace we’ve seen since the spring of 2011,” 
 
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,936 
in May. This represents a 5 per cent increase compared to the 5,656 new listings in May 2013 
and a 0.2 per cent decline from the 5,950 new listings in April. Last month’s new listing count 
was 2 per cent below the region’s 10-year new listing average for the month. 
 
The total number of properties currently listed for sale on the MLS® system in Greater 
Vancouver is 16,072, a 6.7 per cent decline compared to May 2013 and a 3.6 per cent increase 
compared to April 2014. 
 
The MLS® Home Price Index composite benchmark price for all residential properties in Metro 
Vancouver is currently $624,000. This represents a 4.3 per cent increase compared to May 2013. 
 “Home prices have experienced consistent yet modest increasesin ourregion since the beginning
of 2013,” Harrissaid.
 
Sales of detached properties in May 2014 reached 1,453, an increase of 19.9 per cent from the 
1,212 detached sales recorded in May 2013, and a 23.1 per cent increase from the 1,180 units 
sold in May 2012. The benchmark price for detached properties increased 5.4 per cent from May 
2013 to $966,500. 
 
Sales of apartment properties reached 1,286 in May 2014, an increase of 13.2 per cent compared 
to the 1,136 sales in May 2013, and an 11.2 per cent increase compared to the 1,156 sales in May 
2012. The benchmark price of an apartment property increased 3.2 per cent from May 2013 to 
$377,500. 
 
Attached property sales in May 2014 totalled 547, a 2.4 per cent increase compared to the 534 
sales in May 2013, and a 5.8 per cent increase over the 517 attached properties sold in May 
2012. The benchmark price of an attached unit increased 3.1 per cent between May 2013 and 
2014 to $469,100. 
 
-30- 
 
The real estate industry is a key economic driver in British Columbia. In 2013, 28,524 homes changed ownership in 
the Board’s area, generating $1.84 billion in economic spin-off activity and 13,977 jobs. The total dollar value of 
residential sales transacted through the MLS® system in Greater Vancouver totalled $22 billion in 2013. The Real 
Estate Board of Greater Vancouver is an association representing more than 11,000 REALTORS® and their 
companies. The Board provides a variety of member services, including the Multiple Listing Service®. For more 
information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit 
www.rebgv.org. 
 
For more information please contact: 
Craig Munn, Assistant Manager of Communications 
Real Estate Board of Greater Vancouver 
Phone: (604) 730-3146 
cmunn@rebgv.org 
www.rebgv.org| Facebook|Twitter Property Type Area Benchmark 
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May 2018 Media Stats Package

Info-May-2018-499

Reduced demand is allowing housing supply to accumulate

Home buyer demand continues to decline across the Metro Vancouver* housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,833 in May 2018, a 35.1 per cent decrease from the 4,364 sales recorded in May 2017, and a 9.8 per cent increase compared to April 2018 when 2,579 homes sold.

Last month’s sales were 19.3 per cent below the 10-year May sales average.

“With fewer homes selling today compared to recent years, the number of homes available for sale is rising,” Phil Moore, REBGV president said. “The selection of homes for sale in Metro Vancouver has risen to the highest levels we’ve seen in the last two years, yet supply is still below our long-term historical averages.”

There were 6,375 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in May 2018. This represents a 5.5 per cent increase compared to the 6,044 homes listed in May 2017 and a 9.5 per cent increase compared to April 2018 when 5,820 homes were listed.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 11,292, a 38.2 per cent increase compared to May 2017 (8,168) and a 15 per cent increase compared to April 2018 (9,822).

The total number of listings available today is 17.2 per cent below the 10-year May average.

For all property types, the sales-to-active listings ratio for May 2018 is 25.1 per cent. By property type, the ratio is 14.7 per cent for detached homes, 30.8 per cent for townhomes, and 41.7 per cent for condominiums.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“For home sellers to be successful in today’s market, it’s important to price your property competitively given the shifting dynamics we’re experiencing,” Moore said. “It’s also important to work with your local Realtor to better understand these changing conditions.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,094,000. This is an 11.5 per cent increase over May 2017 and a 0.2 per cent increase compared to April 2018.

Sales of detached properties in May 2018 reached 926, a 40.2 per cent decrease from the 1,548 detached sales recorded in May 2017. The benchmark price for detached properties is $1,608,000. This is a 2.4 per cent increase from May 2017 and a 0.1 per cent increase compared to April 2018.

Sales of apartment properties reached 1,431 in May 2018, a 29.3 per cent decrease from the 2,025 sales in May 2017. The benchmark price of an apartment property is $701,700. This is a 20.2 per cent increase from May 2017 and a 0.1 per cent increase compared to April 2018.

Attached property sales in May 2018 totalled 476, a 39.8 per cent decrease from the 791 sales in May 2017. The benchmark price of an attached unit is $859,500. This represents a 16 per cent increase from May 2017 and a 0.6 per cent increase compared to Apri
June5th,2018




News ReleaseFOR IMMEDIATE RELEASE:  Home buyer demand increases across Greater VaThe Real Estate Board of Greater Vancouver is an association representing more than 11,000 REALTORS® and their companies. The Board provides a variety of member services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit www.rebgv.org.  
ncouver

housing market  VANCOUVER, B.C. – June 3, 2014 – An increase in home buyer demand put Greater Vancouver in the upper reaches of a balanced real estate market in May.  The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,286 on the Multiple Listing Service® (MLS®) in May 2014. This represents a 14 per cent increase compared to the 2,882 sales recorded in May 2013, and a 7.7 per cent increase compared to the 3,050 sales in April 2014.  Last month’s sales were 6.5 per cent below the 10-year sales average for May of 3,514.  The sales-to-active-listings ratio currently sits at 20.4 per cent in Greater Vancouver, which is the first time that this measure has been above 20 per cent since June 2011.  “Our MLS® statistics tell us that there’s more home buyer demand today than at any point over the last three years,” Ray Harris, REBGV president said. “With sales surpassing the 3,000 mark in May and our sales-to-active-listing ratio exceeding 20 per cent, this is the most active marketplace we’ve seen since the spring of 2011,”  New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,936 in May. This represents a 5 per cent increase compared to the 5,656 new listings in May 2013 and a 0.2 per cent decline from the 5,950 new listings in April.
Last month’s new listing count was 2 per cent below the region’s 10-year new listing average for the month.  The total number of properties currently listed for sale on the MLS® system in Greater Vancouver is 16,072, a 6.7 per cent decline compared to May 2013 and a 3.6 per cent increase compared to April 2014.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $624,000. This represents a 4.3 per cent increase compared to May 2013.  “Home prices have experienced consistent yet modest increasesin ourregion since the beginningof 2013,” Harrissaid. Sales of detached properties in May 2014 reached 1,453, an increase of 19.9 per cent from the 1,212 detached sales recorded in May 2013, and a 23.1 per cent increase from the 1,180 units sold in May 2012.
The benchmark price for detached properties increased 5.4 per cent from May 2013 to $966,500.  Sales of apartment properties reached 1,286 in May 2014, an increase of 13.2 per cent compared to the 1,136 sales in May 2013, and an 11.2 per cent increase compared to the 1,156 sales in May 2012. The benchmark price of an apartment property increased 3.2 per cent from May 2013 to $377,500.  Attached property sales in May 2014 totalled 547, a 2.4 per cent increase compared to the 534 sales in May 2013, and a 5.8 per cent increase over the 517 attached properties sold in May 2012. The benchmark price of an attached unit increased 3.1 per cent between May 2013 and 2014 to $469,100.  -30-  The real estate industry is a key economic driver in British Columbia. In 2013, 28,524 homes changed ownership in the Board’s area, generating $1.84 billion in economic spin-off activity and 13,977 jobs. The total dollar value of residential sales transacted through the MLS® system in Greater Vancouver totalled $22 billion in 2013.