Click the link below to watch the YouTube video on Greater Vancouver 2015 November Housing Market Update, presented by the Real Estate Board of Greater Vancouver. The video presents an overview of the housing statistics for November 2015 in the Greater Vancouver area, and discusses elevated home sale trends.
Highlights from the video include:
(1) residential property sales in Metro Vancouver reached 3,524 on the Multiple Listing Service® (MLS®) in November 2015;
(2) This sales number is 46.2 per cent above the 10-year sales average for the month and rank as the second highest November on record for residential property sales;
(3) The sales-to-active-listings ratio in November 2015 was 43.5 per cent.
Generally, analysts say that downward pressure on home prices occurs when the ratio declines below the 12 per cent mark, while home prices often experience upward pressure when it reaches 20 per cent, or higher, in a particular community for a sustained period of time.