{"id":17535,"date":"2021-05-14T22:07:09","date_gmt":"2021-05-15T05:07:09","guid":{"rendered":"https:\/\/www.vancouvernewcondos.com\/?p=17535"},"modified":"2021-05-20T10:26:27","modified_gmt":"2021-05-20T17:26:27","slug":"real-estate-outlook-vancouver-2021-may-webinar","status":"publish","type":"post","link":"https:\/\/www.vancouvernewcondos.com\/real-estate-outlook-vancouver-2021-may-webinar\/","title":{"rendered":"Real Estate Outlook Vancouver 2021 &#8211; May Webinar"},"content":{"rendered":"<div class=\"entry-content-asset videofit\"><iframe loading=\"lazy\" title=\"Real Estate Update in Vancouver May 2021\" width=\"720\" height=\"540\" src=\"https:\/\/www.youtube.com\/embed\/dHt9e5Frbic?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/div>\n<h3><span>Vancouver Market Update: May<\/span><\/h3>\n<h3><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-17624\" src=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture1-1-360x233.png\" alt=\"\" width=\"417\" height=\"270\" srcset=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture1-1-360x233.png 360w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture1-1.png 464w\" sizes=\"(max-width: 417px) 100vw, 417px\" \/> <img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-17625\" src=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture2-1-360x275.png\" alt=\"\" width=\"360\" height=\"275\" srcset=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture2-1-360x275.png 360w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture2-1.png 472w\" sizes=\"(max-width: 360px) 100vw, 360px\" \/><\/h3>\n<h3><span>Market update<\/span><\/h3>\n<p><span>April 2021 listings were <strong>342%<\/strong> higher than the same month last year, but there was also a 14% decrease in homes sold from the prior month.<\/span><\/p>\n<p><span>\u00a0<\/span><strong><span>When the sales-active listing ratio is below 12%, analysts believe prices will trend downward. When the ratio is above 20%, prices should trend up. Here\u2019s where we\u2019re at:<\/span><\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-17626\" src=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture3-1-360x106.png\" alt=\"\" width=\"360\" height=\"106\" srcset=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture3-1-360x106.png 360w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture3-1-480x142.png 480w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture3-1.png 522w\" sizes=\"(max-width: 360px) 100vw, 360px\" \/><\/p>\n<p><strong><span>Prices were viciously going up, but if you look at April, the numbers significantly dropped:<\/span><\/strong><\/p>\n<p><strong><span><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-17627\" src=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture4-1-360x55.png\" alt=\"\" width=\"360\" height=\"55\" srcset=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture4-1-360x55.png 360w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture4-1-480x73.png 480w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture4-1.png 560w\" sizes=\"(max-width: 360px) 100vw, 360px\" \/><\/span><\/strong><\/p>\n<p><strong><span>What are the reasons these numbers have gone down from March to April?<\/span><\/strong><\/p>\n<p><span>We\u2019re seeing an expansion in supply that\u2019s normal when there\u2019s a big run-up of sales activity. People who own and are thinking of selling see that it\u2019s a fantastic time to sell \u2014 prices are rising, volumes are high, there\u2019s a lot of liquidity, financing is cheap, so they say let\u2019s put our place on the market. So, one month you get <em>big<\/em> sales \u2014 last month was the highest on record &#8211; people know there are buyers, they\u2019ll get top dollar and their place won\u2019t sit around. There\u2019s also an interesting market dynamic: everyone thinks you get the best deals when the market\u2019s soft, but this isn\u2019t necessarily true. When the market\u2019s soft, you don\u2019t get those properties that are really well taken care of and really special, owned by people who have the resources to hang on. When the market is doing well is when the people who have the money to hang on decide to put their really nicely maintained, special properties on the market.<\/span><span>\u00a0<\/span><\/p>\n<p><span>So, for a buyer, it\u2019s a great time right now because you have extremely low interest rates and a big expansion of supply that makes the buying process a lot easier than it would have been six to eight weeks ago with multiple offers. I recently helped a client in Alberta buy a single-family house in Kitsilano on a 40\u2019 x 122\u2019 lot that he\u2019s looking to redevelop and there were only two offers, the second of which came in at the very last minute and didn\u2019t seem that strong, so we won it. Other clients of mine negotiated the price down on a property in Caulfield, West Vancouver, in a very nice location on a large lot and, though it needs maintenance, it\u2019s a solid house.<\/span><span>\u00a0<\/span><\/p>\n<p><span>On the flip side, depending on the market, it\u2019s been a little more challenging as a seller. North Vancouver, East Vancouver, the Fraser Valley are still easy to sell and more difficult to buy areas, but at least now you can still actually see properties and take your time to look at them. Market conditions have marginally improved for buyers and are a little more challenging for sellers, but it\u2019s still good for both sides.<\/span><\/p>\n<p><strong><span>I feel market prices will slowly keep rising based on the numbers. When we look at the forecast from our previous session, there were numbers ranging as low as 4% up to 9% for the 2021 outlook. Here\u2019s the one-month change for the past 3 months. The numbers are climbing up. Sure, the activity has slowed a bit but from a pricing perspective, the numbers are still trending upward.<\/span><\/strong><\/p>\n<p><strong><span> <img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-17628\" src=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture5-1-360x242.jpg\" alt=\"\" width=\"360\" height=\"242\" srcset=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture5-1-360x242.jpg 360w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture5-1-480x323.jpg 480w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture5-1.jpg 637w\" sizes=\"(max-width: 360px) 100vw, 360px\" \/><\/span><\/strong><\/p>\n<p><strong><span> <img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-17629\" src=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture6-1-360x233.jpg\" alt=\"\" width=\"360\" height=\"233\" srcset=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture6-1-360x233.jpg 360w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture6-1-480x310.jpg 480w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture6-1.jpg 647w\" sizes=\"(max-width: 360px) 100vw, 360px\" \/><\/span><\/strong><\/p>\n<p><strong><span> <img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-17630\" src=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture7-1-360x225.jpg\" alt=\"\" width=\"360\" height=\"225\" srcset=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture7-1-360x225.jpg 360w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture7-1-480x300.jpg 480w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture7-1.jpg 652w\" sizes=\"(max-width: 360px) 100vw, 360px\" \/><\/span><\/strong><\/p>\n<p><strong><span>To dissect this, if we look at the one-year change for single-family homes, it\u2019s still quite prominent year-over-year. Even for the three-year change, all the numbers keep going up.<\/span><\/strong><\/p>\n<p><strong><span><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-17631\" src=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture8-1-360x234.jpg\" alt=\"\" width=\"360\" height=\"234\" srcset=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture8-1-360x234.jpg 360w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture8-1-480x312.jpg 480w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture8-1.jpg 741w\" sizes=\"(max-width: 360px) 100vw, 360px\" \/><\/span><\/strong><\/p>\n<p><strong><span>The condo market isn\u2019t as much as single-family but still is trending upward. No pricing is trending upward.<\/span><\/strong><\/p>\n<p><strong><span><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-17632\" src=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture9-1-360x217.jpg\" alt=\"\" width=\"360\" height=\"217\" srcset=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture9-1-360x217.jpg 360w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture9-1-750x452.jpg 750w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture9-1-480x289.jpg 480w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture9-1.jpg 764w\" sizes=\"(max-width: 360px) 100vw, 360px\" \/><\/span><\/strong><\/p>\n<p><strong><span>What\u2019s happening right now for buyers \u2014 do you feel they don\u2019t need to go over asking right now?<\/span><\/strong><\/p>\n<p><span>It depends on the product. If you\u2019re competing in a multiple offer situation, the minimum you need to go in on is full price. In most cases, you probably have to go over. If you\u2019re working with a realtor, make sure to get their advice. They should be able to help and guide you in a multiple offer situation. There\u2019s a difference between <em>asking<\/em> price and <em>market<\/em> price and a good realtor should be able to calculate the market price for you, irrespective of the asking price. Often, sellers will put the asking price just below the market price to get a lot of activity and get that market price, or to get a buyer that overshoots and goes over market price. It\u2019s really important to work with someone who knows the product and area and has a track record of winning these things.<\/span><\/p>\n<p><span>If you look at some of these numbers \u2014 a 3.1% change in overall composite price for the Lower Mainland per month. If you annualize that, it\u2019s a 36% increase in value for the whole year. We\u2019re looking at some pretty steep price rises. These prices will rise because of sales ratios &#8211; anytime they\u2019re above 12%, prices will rise. For single-family houses, they\u2019re around 37.4%, condos are about 51.5%, and townhomes are about 70%. But, within the market you\u2019ll have different ratios \u2014 for example, downtown Vancouver has a very low sales ratio for condos so that could be a place to get some real value. A lot of people are still concerned about COVID, but once people are vaccinated and we have herd immunity, I think they\u2019ll realize what a great place downtown Vancouver is to live. People will want the busy shopping, restaurants and patios again.<\/span><\/p>\n<p><strong><span>We can only hope that things start to get back to normal again.<\/span><\/strong><\/p>\n<p><strong><span>What\u2019s going on with the potential new stress test in June? What do you think will happen with rates and people losing their low fixed rates?<\/span><\/strong><\/p>\n<p><span>The stress test is a way for the federal government to control the real estate market that doesn\u2019t involve them raising rates for the overall market. The only way the Canadian economy is competitive internationally and with the US is with a low Canadian dollar. The way to achieve that is by the Bank of Canada keeping interest rates low &#8211; the side effect of that is to push up asset price, in this case real estate, because it\u2019s so inexpensive to buy. The government controls this by tightening the mortgage qualification rules. With it, you\u2019re not qualifying at 1.75% or 2.25%, you\u2019re qualifying much higher at, say, 5.5%. They want to know that you can afford that mortgage even if rates get that high. They do this for three reasons:<\/span><\/p>\n<ol>\n<li><span>To say they\u2019re doing something about housing affordability in Canada as part of a re-election strategy.<\/span><\/li>\n<li><span>To keep control of the real estate market because if it goes crazy, it can throw the economy off track.<\/span><\/li>\n<li><span>To protect consumers from themselves. The US financial crisis was largely caused by irresponsible or lack of regulation \u2014 you had the mortgage industry and politicians saying \u201clet\u2019s give everybody mortgages\u201d, and nobody slowed things down.<\/span><\/li>\n<\/ol>\n<p><span>The stress test can be a pain when you\u2019re trying to sell a property, but overall I do think it\u2019s a good thing because it keeps us safe.<\/span><\/p>\n<p><em><span>There\u2019s been mention of interest rates increasing to cool down the market. How significant of an impact will this have overall, moving forward?<\/span><\/em><\/p>\n<p><strong><span>Interest rates aren\u2019t increasing <em>to<\/em> cool the market down, but that may be their effect.<\/span><\/strong><\/p>\n<p><span>Right now the bond market is changing because of perceptions of future inflation, but I don\u2019t see inflation getting that high. In the past, the world economy was cellular. So, if we didn\u2019t have enough shirts, cars, and socks in Canada, too bad &#8211; we can\u2019t bring in any more because of the 20% tariff from the US. So, the price of these things would go up and that would be overall inflation on the economy. Now, you can bring in any of these things from all over the world with low tariffs and shipping. Where we\u2019ll see inflation hit is in cryptocurrencies, real estate, and the stock market because there\u2019s limited amounts of these things and they\u2019re not easily replaced. I think interest rates will eventually go up, but I don\u2019t see them surging to 10-12% like when I was a kid or 20% when Paul Volcker raised rates dramatically in the early 1980s as head of the US Federal Reserve. Rates may even go down if the economy has problems going forward.<\/span><\/p>\n<p><span>I\u2019ve been doing this for 16 years and have seen a booming market when interest rates are around 5%. The real estate market can go crazy with very high interest rates. What happens is the department of finance, which controls the stress test, pushes out mortgage amortizations. In 2005 when I started, you could get a 40-year amortization which is very good when interest rates are high \u2014 you\u2019re paying huge amounts of interest which means writeoffs on an investment property. Just because you have high interest rates doesn\u2019t mean you won\u2019t have a rising real estate market.<\/span><\/p>\n<p><strong><span>I\u2019ve seen interest rates go up a number of times and it didn\u2019t really have a dramatic effect to cause real estate to crash or cool off. People always need to buy. If they\u2019re worried the rate will go up from 3%, they\u2019ll buy at 3% or whatever it may be. In the past few months we just saw incredibly low rates mixed with pent-up demand. The two crossed paths and suddenly there was a surge of people wanting to buy.<\/span><\/strong><\/p>\n<p><em><span>If I want to sell in New West and buy in Abbotsford, is it better to use the same agent for both transactions, or two different ones who know each area better?<\/span><\/em><\/p>\n<p><strong><span>It really depends on the realtor and how comfortable you are with them knowing each area. You can have a fantastic realtor who knows the buying and selling side well.<\/span><\/strong><\/p>\n<p><span>I would have two separate realtors because those markets are so different, so specific and so far apart. You could have your New West realtor refer you to someone in Abbotsford so they don\u2019t feel bad (or vice versa). Plus, the Abbotsford realtor will take you seriously because you\u2019ve been referred and they know you won\u2019t waste their time. If you\u2019re looking for a realtor in either area, I\u2019d be happy to refer you.<\/span><\/p>\n<p><em><span>Does the foreign buyers\u2019 tax apply for non-Canadian and Canadian spouses?<\/span><\/em><\/p>\n<p><span>Go with an accountant or lawyer\u2019s opinion on that one \u2014 it\u2019s beyond the scope of my license and they can advise you best.<\/span><\/p>\n<p><em><span>When COVID slows down with increased vaccinations, how do you feel it will affect the market? Better for buyers or sellers?<\/span><\/em><\/p>\n<p><span>It depends where. When we have herd immunity, I wouldn\u2019t be surprised to see places like the Fraser Valley, Bowen Island, Nanaimo, Squamish, and other markets further out soften or even have price declines. The cores of cities \u2014 downtown Vancouver, Metrotown, North Surrey, Lougheed Town Centre \u2014 super dense places people have moved away from because they\u2019re worried about COVID will have people moving back to them. Prices and demand will go up in these places, and the craziness we\u2019ve seen outside of cities will come back to these urban locations.<\/span><\/p>\n<p><em><span>Are you knowledgeable about US property rules and laws? I have one property in the US and want to buy a condo.<\/span><\/em><\/p>\n<p><strong><span>Yes. I have clients with properties in the US, and I own down there too. We can set up a discovery call to continue the conversation.<\/span><\/strong><\/p>\n<p><strong><span>Don\u2019t<\/span><\/strong><span> <strong>try to time the market. It\u2019s dangerous. Find something that fits with what you\u2019re looking for, whatever the rates happen to be. Check your cash flow, see if you can afford it. I think there will be added pressure if anyone is still holding on to a lower rate. People who locked in at 1.7-1.8% for 120 days should be coming to the end of the cycle soon. New rates are still in the low 2s and are historically low. Based on the data we\u2019ve seen, 2021 will remain on an upward trend for Vancouver real estate prices for sure.<\/strong><\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-17633\" src=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture10-1-360x213.png\" alt=\"\" width=\"360\" height=\"213\" srcset=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture10-1-360x213.png 360w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture10-1-480x284.png 480w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture10-1.png 677w\" sizes=\"(max-width: 360px) 100vw, 360px\" \/><\/p>\n<p><strong><span>I review my clients\u2019 strategies and try to help them take advantage of opportunities in a very safe way.<\/span><\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-17634\" src=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture11-1-360x256.png\" alt=\"\" width=\"360\" height=\"256\" srcset=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture11-1-360x256.png 360w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture11-1-480x341.png 480w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture11-1.png 568w\" sizes=\"(max-width: 360px) 100vw, 360px\" \/><\/p>\n<p><strong><span>Here\u2019s a case study of a perfect example of how I help my clients. There\u2019s an analysis that needs to be done. I work with clients to solve their financial needs, including real estate. It starts with a discovery meeting that doesn\u2019t cost anything, where we talk about the problem you\u2019re trying to solve and what I can do to help you. If you decide to become a client, we navigate through all the options until we implement a strategy and then review it.<\/span><\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-17635\" src=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture12-1-360x178.png\" alt=\"\" width=\"360\" height=\"178\" srcset=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture12-1-360x178.png 360w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture12-1-750x371.png 750w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture12-1-480x237.png 480w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture12-1.png 752w\" sizes=\"(max-width: 360px) 100vw, 360px\" \/><\/p>\n<p><strong><span>I would do a cost-benefit analysis to show you what it would look like if you bought a second property and what it would look like if you didn\u2019t. For example:<\/span><\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-17636\" src=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture13-360x257.png\" alt=\"\" width=\"360\" height=\"257\" srcset=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture13-360x257.png 360w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture13-480x342.png 480w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture13.png 637w\" sizes=\"(max-width: 360px) 100vw, 360px\" \/><\/p>\n<p><strong><span>The analysis if you\u2019re considering changing or acquiring real estate is so important, and <\/span><\/strong><strong><span>if you can\u2019t do that analysis yourself you should book a discovery meeting with me. When you use an advisor, your wealth multiplies significantly over time. I\u2019m sure it\u2019s even higher with real estate, which I can advise on and many others can\u2019t.<\/span><\/strong><strong><span>\u00a0<\/span><\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-17637\" src=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture14-1-360x265.png\" alt=\"\" width=\"360\" height=\"265\" srcset=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture14-1-360x265.png 360w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture14-1-480x353.png 480w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture14-1.png 597w\" sizes=\"(max-width: 360px) 100vw, 360px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-17638\" src=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture15-360x283.png\" alt=\"\" width=\"360\" height=\"283\" srcset=\"https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture15-360x283.png 360w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture15-480x377.png 480w, https:\/\/www.vancouvernewcondos.com\/wp-content\/uploads\/2021\/05\/Picture15.png 647w\" sizes=\"(max-width: 360px) 100vw, 360px\" \/><\/p>\n<p><strong><span>\u00a0<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver Market Update: May Market update April 2021 listings were 342% higher than the same month last year, but there was also a 14% decrease in homes sold from the prior month. \u00a0When the sales-active listing ratio is below 12%, analysts believe prices will trend downward. When the ratio is above 20%, prices should trend&#8230;<\/p>\n","protected":false},"author":33,"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":[4018,2486,4026],"tags":[4544,4545,2504,4090,2496],"taxonomy_info":{"category":[{"value":4018,"label":"Fraser Valley Real Estate Board (FVREB) Monthly Sales Statistics"},{"value":2486,"label":"Real Estate Board of Greater Vancouver (REBGV) Monthly Sales Statistics"},{"value":4026,"label":"Victoria Real Estate Board (VREB) Monthly Sales 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