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Vancouver Real Estate Statistics and Housing Starts For April

I am bit late getting these out, but here they are nonetheless. Last Friday the Real Estate Board of Greater Vancouver (REBGV) released the April statistics and earlier this week Canada Mortgage and Housing Corp (CMHC) released Vancouver's April housing starts.

As has been widely reported in the media around the blogosphere listings are up and sales are down in Metro Vancouver leading to softer prices. In some area this might even be resulting in prices falling while other areas are holding strong.

The REBGV News Release is attached below.

As for the April housing starts in Vancouver they bucked the resale trend and were up over last year. You can find that report here.

Matthew Collinge: Vancouver REALTOR®

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Posted: Friday, May 09, 2008 9:00 AM by Matthew Collinge
Attachment(s): April 2008 StatsPackage.pdf

Comments

Toronto real estate agent said:

The situation is nearly the same regarding the <a href="http://ellidavis.com">Toronto real estate</a> market. The sales are down, listings are up. I can understand that people think twice at the moment to invest into real estate or not and they are not making hasty decisions. The slowdown of the market made possible for them to consider the advantages and disaddvantages to invest now.

# May 10, 2008 1:05 AM

Tim Noble said:

Great stats. I'm currently involved in pulling together a housing property survey for the Far East which should be interesting. It will be interesting to see what is happening in China! That's my day job....in my spare time I'm selling woodland to wealthy UK couples who want to help preserve our countryside.

# May 10, 2008 7:43 AM

Matthew Collinge said:

Toronto real estate agent Elli Davis - Is that really y you stopping my my blog in the dark of night? Thanks for stopping by! For future reference my blog does not support HTML in the comments. Are prices still holding strong in Toronto?

Tim - It would certainly be interest in to have a picture of the real estate market in China. I understand it has been down in the last year or 2. Best of luck with preserving what little woodlands the UK has left.

# May 10, 2008 8:35 AM

Crunchy Carpets said:

While I think the rabid buying MAY have settled down here...I don't think the prices will tank or stall...Vancouver rarely reacts to economic signals like the rest of the world does.

Though perhaps the condo market will slow..who knows

# May 10, 2008 4:09 PM

Jackie said:

Housing in china is still going up for now, but I still couldn't believe that one decent detach house in a decent area of ShangHai city costs 3-4 million USD....

# May 11, 2008 6:58 AM

Matthew Collinge said:

Crunchy Carpets and Jackie, Thanks for stopping by and leaving you comments. The next 3-6 months will show us a lot about where we are headed I think.

# May 12, 2008 11:09 AM

Pam Pugmire said:

It sounds like the RE market is going strong up in Vsncouver.  That is a positive sign that new housing starts are up. Here in Idaho, USA the market is quite similar.  There is more inventory, and prices are slightly down, but that is from very high prices.  It is now starting to stabalize and there are some good oportunities for buyers.

# May 23, 2008 1:43 PM
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