{"id":4935,"date":"2021-06-17T12:17:16","date_gmt":"2021-06-17T20:17:16","guid":{"rendered":"https:\/\/www.yaorealestate.com\/?p=4935"},"modified":"2021-10-13T13:51:49","modified_gmt":"2021-10-13T21:51:49","slug":"market-update-june-2021","status":"publish","type":"post","link":"https:\/\/www.yaorealestate.com\/market-update-june-2021\/","title":{"rendered":"Vancouver Real Estate Market Update &#8211; June 2021"},"content":{"rendered":"<h3 style=\"text-align: center;\">VIDEO:\u00a0 Vancouver Real Estate Market Update &#8211; June 2021<\/h3>\n<p>&nbsp;<\/p>\n<div class=\"entry-content-asset videofit\"><iframe loading=\"lazy\" title=\"Real Estate Matters: Vancouver Market Update - June 2021 | Yao Real Estate\" width=\"720\" height=\"405\" src=\"https:\/\/www.youtube.com\/embed\/RWekwK4NyMA?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/div>\n<p>Hello!<\/p>\n<p>Our economy is steadily opening back up!\u00a0 As we discussed last month, with the supply pouring out, market has certainly peaked and is holding quite steady.\u00a0 However, demand seems to be leaning back towards the typical pre-covid trends, with a slight lull in the summertime as more people are out enjoying the sun rather than focusing on Real Estate.\u00a0 Below you will see comments from the Real Estate Board of Greater Vancouver, and my analysis of the market being on the ground daily.<\/p>\n<p><strong>From the Real Estate Board of Greater Vancouver:<\/strong><\/p>\n<p>VANCOUVER, BC \u2013 June 2, 2021 \u2013 The Metro Vancouver* housing market saw steady home sale and listing activity in May, a shift back from the record-breaking activity seen in the earlier spring months.<\/p>\n<p>The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 4,268 in May 2021, a 187.4 per cent increase from the 1,485 sales recorded in May 2020, and a 13 per cent decrease from the 4,908 homes sold in April 2021.<\/p>\n<p>\u201cWhile home sale and listing activity remained above our long-term averages in May, conditions moved back from the record-setting pace experienced throughout Metro Vancouver in March and April of this year,\u201d Keith Stewart, REBGV economist said. \u201cWith a little less intensity in the market today than we saw earlier in the spring, home sellers need to ensure they\u2019re working with their REALTOR\u00ae to price their homes based on current market conditions.\u201d<\/p>\n<p>&#8220;With sales easing down from record peaks, a revised mortgage stress test that reduces the maximum borrowing amounts by approximately 4.5 per cent, and the average five-year fixed mortgage rate climbing back over two per cent since the beginning of 2021, we\u2019ll pay close attention to these factors leading into the summer to understand what affect they\u2019ll have on the current market cycle,\u201d Stewart said.<\/p>\n<p><em><strong>Analysis<\/strong><\/em> &#8211; We have seen a slightly more saturated May than April, however prices are still holding.\u00a0 We are starting to see the trend heading back towards pre-covid conditions, with a typical lull in the Summertime when families tend to either travel or spend more time together outdoors rather than focusing on Real Estate.\u00a0 This happens as most of us are vaccinated and the economy opens back up.\u00a0 However, I think that &#8220;space&#8221; is and will continue to be a leading factor in buyers&#8217; considerations for new homes after this past year and a half.<\/p>\n<p>We are seeing the reduction of multiple offers and subject free offers in the marketplace.\u00a0 So definitely more of a balanced market than the last few months.\u00a0 If you have been waiting on the sidelines to buy, now is the time as we are predicting the fall market to come back (busy September to December).<\/p>\n<p><strong>Looking to sell or move in the near future?\u00a0 Please reply to this email and I&#8217;d be happy to chat with you!\u00a0 I truly would love the opportunity to work with YOU!<\/strong><\/p>\n<p>Please click below links for your complimentary\u00a0updated Vancouver Real Estate statistics package.<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><a class=\"btn btn-lg btn-primary\" href=\"https:\/\/mcusercontent.com\/777c684ad3d3eb63b0df8e318\/files\/b10a6305-9f60-72c0-49b5-684fd3114346\/REBGV_Stats_Pkg_May_2021.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Detailed Real Estate Board Statistics Package<\/a><\/p>\n<div class=\"row\">\n<div class=\"col-md-6\" style=\"text-align: center;\">\n<p><a class=\"btn btn-lg btn-action\" href=\"https:\/\/mcusercontent.com\/777c684ad3d3eb63b0df8e318\/files\/288507de-0693-2c0e-be33-cd6aa94d8840\/MVR_2021_May.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Snap Stats &#8211; Metro Vancouver<\/a><\/p>\n<\/div>\n<div class=\"col-md-6\">\n<p style=\"text-align: center;\"><a class=\"btn btn-lg btn-action\" href=\"https:\/\/mcusercontent.com\/777c684ad3d3eb63b0df8e318\/files\/c7b30c26-6cec-6ff0-48c2-84385a2a84df\/GVR_2021_May.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Snap Stats &#8211; Greater Vancouver<\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>VIDEO:\u00a0 Vancouver Real Estate Market Update &#8211; June 2021 &nbsp; Hello! Our economy is steadily opening back up!\u00a0 As we discussed last month, with the supply pouring out, market has certainly peaked and is holding quite steady.\u00a0 However, demand seems to be leaning back towards the typical pre-covid trends, with a slight lull in the&#8230;<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[1],"tags":[],"taxonomy_info":{"category":[{"value":1,"label":"Uncategorized"}]},"featured_image_src_large":false,"author_info":{"display_name":"Alex Yao","author_link":"https:\/\/www.yaorealestate.com\/author\/yaorealestate\/"},"comment_info":0,"category_info":[{"term_id":1,"name":"Uncategorized","slug":"uncategorized","term_group":0,"term_taxonomy_id":1,"taxonomy":"category","description":"","parent":0,"count":42,"filter":"raw","cat_ID":1,"category_count":42,"category_description":"","cat_name":"Uncategorized","category_nicename":"uncategorized","category_parent":0}],"tag_info":false,"_links":{"self":[{"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/posts\/4935"}],"collection":[{"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/comments?post=4935"}],"version-history":[{"count":1,"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/posts\/4935\/revisions"}],"predecessor-version":[{"id":4936,"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/posts\/4935\/revisions\/4936"}],"wp:attachment":[{"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/media?parent=4935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/categories?post=4935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/tags?post=4935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}