Spencer Kumo's Blog Posts

Market shifting in buyers’ favour, though hesitation remainsCompared to last year there are many choices for buyers, plus interest rates have fallen but sales are still slow. I see prices

Vancouver Home Sales Fall Nearly 20 Per Cent in May as Inventory Continues to Climb� Greater Vancouver Realtors said Tuesday there were 2,733 home sales in the region last month, down from 3,411

Inventory reaches highest level since the pandemic summer of 2020Actively listed homes for sale on the MLS® in Metro Vancouver continued climbing in April, up 42 per cent year-over-year,

🔥 Get ready for a sizzling spring in Metro Vancouver's real estate market! 🌸💼With nearly a 23% surge in homes listed on the MLS®, buyers are spoiled for choice this season. But hold

March 2024 Real Estate Update: � "Home sellers awaken this spring, bringing much-needed inventory to the housing market" 🌸While Metro Vancouver home sellers appeared somewhat hesitant in

ðŸ�¡ BC Housing Measures Update! ðŸ� The BC Budget 2024 introduces new housing measures, including the BC Home Flipping Tax and Property Transfer Tax (PTT) exemptions, effective January 1, 2025. ðŸ’

February 2024 Real Estate Update by Spencer Kumo of RE/MAXHome sales across Metro Vancouver’s housing market off to strong start in 2024While the Metro Vancouver market ended 2023 in balanced

November 2023 Real Estate Update:There's more inventory entering the market with condos and townhouses leading the way. Detached houses are selling a bit slower because of the higher price point.

October 2023 Real Estate UpdateAs inventory increases, price gains relent in Metro Vancouver to begin the fall season. The month-over-month price gains seen earlier this year abated in the Metro

Seasonal slowdown brings price stability to Metro VancouverAs summer winds to a close, higher borrowing costs have begun to permeate the Metro Vancouver housing market in predictable ways, with

Looking to buy your first home? It’s certainly no easy feat. Luckily for new homebuyers in Canada, numerous government incentives are available to help make purchasing a first home a little

4. SupplySupply comes from two sources.Existing sales: Existing home sales are sales of ‘used homes.’ They are homes owned by individuals who sell them to upgrade, move for work, or

House FlippersWhen house prices were rising, it was an easier business for hours flippers.The market has softened, and house flipping is beginning to look risky.Note: The flaw with the chart below

2. Non-core DemandNon-core demand represents short-term investment, long-term investment, and recreational demand (i.e., homes not occupied full-time by the owner). Here is where foreign capital,

Condo-to-House Price GapA large gap means more savings and mortgage financing are needed for condo owners to upsize to a house.B.C. house values rose more quickly during the pandemic than condo

At the highest level, supply and demand set house prices and all other factors drive supply or demand. The five key factors are core demand, non-core demand, government policy, supply, and popular

Home prices across all home types in Metro Vancouver rose again in July, as strong sales figures continue to push up against low levels of housing inventory in the region.The Real Estate Board of

People with variable rate mortgages to be hit hardest, experts sayHomeowners, particularly those with variable rate mortgages, are in for another dose of financial pain after the Bank of Canada

Continuing the trend that has emerged in the housing market this year, the benchmark price for all home types in Metro Vancouver increased in June as home buyer demand butted up against a limited

While the year started slower than usual, Metro Vancouver’s housing market is showing signs of heating up as summer arrives. The Real Estate Board of Greater Vancouver (REBGV) reports that

Canada’s housing market is facing affordability concerns, and to address this issue, the Canada Mortgage and Housing Corporation (CMHC) has made changes to its foreign buyer ban. The goal is