Dr Sam Mehrbod’s Blog

Bills 44, 46, 47 & 18 shift zoning authority from municipalities to the Province, failing to address affordability.Vancouver's updated housing targets favour market housing (82%) over affordable housing (19%), worsening the crisis.

Vancouver's New Normal: Setting the Baseline for Land PricesCourt-ordered sales are offering land at discounts, reshaping Vancouver’s land price landscape.

Millennial Demand Rising: Nearly 75% of millennials and Gen Z prioritize homeownership, driving future market growth.Surge in Sales Expected: Increased buyer activity is anticipated to reduce excess inventory, especially in multi-family markets.

The Bank of Canada’s rate cuts have yet to significantly lift housing markets from their slump. Inventories have increased with more sellers entering the market, giving buyers more decision-making time.

Despite two rate cuts, August sales ↓ 17.1% yearly in Greater Vancouver. Home prices held steady in August, with a benchmark of ~$1.2M, ↓ 0.9% monthly.

Average sale prices are expected to rise by 3%, with sales increasing by 10% by the end of 2024. The Greater Vancouver housing market remains balanced, with potential shifts to a seller's market pending rate cuts.

The Bank of Canada’s predicted rate cuts could lower rates by 1.50% in 2025, boosting housing affordability and buyer interest.A significant change in Metro Vancouver's housing market is expected as interest rates may drop soon.