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September 5, 2023

According to the monthly report from the Real Estate Board of Greater Vancouver (REBGV), the Metro Vancouver housing market has experienced a seasonal slowdown, resulting in price stability. Here is a summary of the key points from the report:

  1. Sales and Inventory:
    • Residential home sales in the region totalled 2,296 in August 2023, a 21.4% increase from August 2022.
    • However, this was 13.8% below the 10-year seasonal average.
    • The sales-to-active listings ratio for August 2023 is 23.9%.
    • There were 10,082 homes listed for sale on the MLS® system in Metro Vancouver, a slight decrease compared to August 2022.
    • This represents a 0.2% decrease compared to August 2022 and a 13.4% decrease below the 10-year seasonal average.
  1. Price Trends:
    • The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,208,400.
    • This represents a 2.5% increase over August 2022 and a 0.2% decrease compared to July 2023.
    • The benchmark price for detached homes is $2,018,500, representing a 3.3% increase from August 2022 and a 0.3% increase compared to July 2023.
    • The benchmark price for apartment homes is $770,000, representing a 4.4% increase from August 2022 and a 0.2% decrease compared to July 2023.
    • The benchmark price for attached homes is $1,103,900, representing a 3.9% increase from August 2022 and a 0.1% decrease compared to July 2023.
  1. Market Analysis:
    • The report suggests that borrowing costs and higher interest rates have influenced the market.
    • The sales and price trends are now aligning with historical seasonal patterns.
    • The sales-to-active listings ratio indicates that there is neither significant downward pressure nor upward pressure on home prices at the moment.
    • However, historically, home prices experience upward pressure when the ratio surpasses 20% over several months and downward pressure when it dips below 12% for a sustained period.

Overall, the report indicates that the Metro Vancouver housing market has experienced a seasonal slowdown, resulting in price stability. The market has shown resilience despite higher borrowing costs and interest rate fluctuations. The sales and price trends are now aligning with historical patterns, and the market is expected to continue at a more moderate pace.


銷售和庫存: 2023年8月,該地區的住宅銷售總數為2,296套,較2022年8月增長21.4%。 然而,這比10年季節性平均水平低13.8%。 2023年8月的銷售活躍列表比率為23.9%。 在大溫哥華的MLS®系統上,有10,082套房屋待售,與2022年8月相比略有下降。 這相對於2022年8月下降了0.2%,比10年季節性平均水平低13.4%。

價格趨勢: 大溫哥華所有住宅物業的MLS®房價指數綜合基準價目前為1,208,400美元。 這相對於2022年8月增長了2.5%,與2023年7月相比下降了0.2%。 獨立住宅的基準價為2,018,500美元,較2022年8月增長了3.3%,與2023年7月相比增長了0.3%。 公寓住宅的基準價為770,000美元,較2022年8月增長了4.4%,與2023年7月相比下降了0.2%。 附屬住宅的基準價為1,103,900美元,較2022年8月增長了3.9%,與2023年7月相比下降了0.1%。

市場分析: 報告指出,借貸成本和較高的利率已經影響了市場。 銷售和價格趨勢現在與歷史季節性模式相一致。 銷售活躍列表比率表明目前對房價既沒有明顯的下壓力,也沒有上壓力。 然而,從歷史角度看,當該比率在幾個月內超過20%時,房價通常會上升,而當它在持續一段時間內下降至12%以下時,房價則會下降。


August 11, 2023

Summary of the July 2023 Metro Vancouver Real Estate Report/ 七月2023年溫哥華都會區房地產市場摘要:

The July 2023 Metro Vancouver real estate market exhibited strong sales, leading to a further increase in home prices across all types of properties. The report, released by the Real Estate Board of Greater Vancouver (REBGV), highlights key trends and insights in the market.

Key Points:

  • Sales Growth: Residential home sales in July 2023 reached 2,455, marking a significant 28.9% increase from July 2022's 1,904 sales. This surge in sales was also a response to the relatively low levels of inventory in the housing market.
  • Comparison to Average: Despite the sales being 15.6% below the 10-year seasonal average (2,909), the 30% year-over-year increase in sales is notable and attributed to the impact of last year's Bank of Canada rate hike.
  • Inventory Increase: New listings of detached, attached, and apartment properties saw a 17% increase, totaling 4,649 in July 2023 compared to 3,975 in July 2022. However, this was still 5.2% below the 10-year seasonal average (4,902).
  • Current Listings: The total number of homes listed for sale on the MLS® system in Metro Vancouver decreased by 4% compared to July 2022, totaling 10,301. This decrease was also reflected as 14.4% below the 10-year seasonal average (12,039).
  • Sales-to-Active Listings Ratio: The sales-to-active listings ratio for July 2023 is 24.9%, with variations by property type: 16.5% for detached homes, 32% for townhomes, and 30.6% for apartments.
  • Price Trends: The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver reached $1,210,700, showing a 0.5% increase over July 2022 and a 0.6% increase compared to June 2023.
  • Property Type Analysis:
    • Detached Home Sales: 681 sales, a 28.7% increase from July 2022. The benchmark price for a detached home is $2,012,900, indicating a 0.6% increase over July 2022.
    • Apartment Home Sales: 1,281 sales, a 20.7% increase from July 2022. The benchmark price of an apartment home is $771,600, indicating a 2.6% increase over July 2022.
    • Attached Home Sales: 466 sales, a remarkable 53.3% increase from July 2022. The benchmark price of an attached home is $1,104,600, indicating a 1.2% increase over July 2022.

Insights and Reflags:

  • Sales Surge Post Rate Hike: The report emphasizes the impact of last year's Bank of Canada rate hike on sales activity. The comparison between last year's slowdown and the current market resilience underscores the strength of demand and buyer adaptability.
  • Inventory Concerns: While sales have increased, the report highlights that inventory remains below the 10-year seasonal average. This could potentially lead to price inflation and increased competition among buyers.
  • Market Adaptability: The report suggests that despite higher borrowing costs, sales activity has not been dampened, indicating a strong demand and buyer's ability to adjust to the changing financial landscape.
  • Property Type Trends: The varying growth rates and benchmark prices among property types underscore the need to understand the preferences and buying patterns of different segments of the market.
  • Seasonal Fluctuations: The report consistently refers to the 10-year seasonal average as a point of comparison. This highlights the importance of considering seasonal fluctuations when interpreting market trends.
  • Supply-Demand Balance: The sales-to-active listings ratio provides insight into the supply-demand balance in the market. A ratio above 20% suggests upward pressure on prices, while below 12% suggests downward pressure.
  • Price Increment: The incremental increase in benchmark prices indicates that the market is still experiencing price growth, although at a slightly slower rate compared to previous periods.

Overall, the report indicates a robust real estate market in Metro Vancouver characterized by strong sales, increasing prices, and adaptability to changing economic conditions. However, the inventory shortage and ongoing price growth warrant close monitoring to assess potential market dynamics and implications for buyers and sellers




  • 銷售增長: 2023年7月的住宅銷售達到2,455套,較2022年7月的1,904套增長了顯著的28.9%。這一銷售激增是對房地產市場庫存相對較低的回應。
  • 與平均值比較: 儘管銷售量低於10年季節性平均水平(2,909套)的15.6%,但銷售量同比增長30%是值得注意的,這歸因於去年加拿大銀行的利率上調。
  • 庫存增加: 2023年7月,大溫哥華地區的獨立屋、聯排屋和公寓物業新上市共計4,649套,較2022年7月的3,975套增加了17%。然而,這仍低於10年季節性平均水平(4,902套)的5.2%。
  • 當前上市數量: 目前在MLS®系統上列出待售的房屋總數為10,301套,較2022年7月減少4%(10,734套)。這也反映為低於10年季節性平均水平(12,039套)的14.4%。
  • 銷售與活躍上市比: 2023年7月,所有獨立屋、聯排屋和公寓物業的銷售與活躍上市比率為24.9%。根據物業類型,獨立屋的比率為16.5%,聯排屋為32%,公寓為30.6%。
  • 價格趨勢: 目前大溫哥華地區所有住宅物業的MLS®房價指數綜合基準價格為1,210,700美元,較2022年7月上升0.5%,較2023年6月上升0.6%。
  • 物業類型趨勢:
    • 獨立屋銷售:2023年7月銷售了681套,較2022年7月的529套增長了28.7%。獨立屋的基準價格為2,012,900美元,較2022年7月上升0.6%。
    • 公寓銷售:2023年7月銷售了1,281套,較2022年7月的1,061套增長了20.7%。公寓的基準價格為771,600美元,較2022年7月上升2.6%。
    • 聯排屋銷售:2023年7月銷售了466套,較2022年7月的304套增長了驚人的53.3%。聯排屋的基準價格為1,104,600美元,較2022年7月上升1.2%。


  • 利率上調後的銷售激增: 該報告強調了去年加拿大銀行利率上調對銷售活動的影響。對比去年的放緩和當前市場的韌性,突顯了市場需求的強勁和買家適應環境變化的能力。
  • 庫存問題: 儘管銷售增長,報告強調庫存仍低於10年季節性平均水平。這可能導致價格上漲和買家之間的競爭加劇。
  • 市場適應力: 儘管借款成本上升,銷售活動並未受到抑制,這表明市場需求強勁,買家能夠適應不斷變化的金融環境。
  • 物業類型趨勢: 不同物業類型之間增長率和基準價格的差異突顯了需要了解不同市場部分的偏好和購買模式。
  • 季節性波動: 報告始終以10年季節性平均值作為比較的參考點。這強調了在解讀市場趨勢時考慮季節性波動的重要性。
  • 供需平衡: 銷售與活躍上市比率提供了市場供需平衡的見解。比率超過20%意味著價格上升的壓力,低於12%意味著價格下跌的壓力。
  • 價格增長: 基準價格的小幅增長表明市場仍在經歷價格增長,儘管速度稍微較之前的時期緩慢。


July 30, 2023 

Water Deductible for condos and why this is important for homeowners. 

When buying a condo in BC Vancouver, water deductible insurance is an important factor to consider due to several reasons:

Increasing Deductibles: Strata policies for condos in Vancouver have seen a significant increase in deductibles for water damage and sewer backup claims. These deductibles can be as high as $250,000 or more. This means that if there is a water-related incident in the building, such as a pipe burst, and the damage exceeds the deductible, the condo owner may be responsible for covering the remaining amount.

Financial Responsibility: If the condo owner does not have extra insurance to cover the strata's deductible, they may be personally responsible for paying the deductible amount in case of damage caused by their unit. This can lead to a substantial financial burden, especially if the deductible is in the range of hundreds of thousands of dollars.

Limited Coverage: Standard condo insurance policies typically cover a certain amount of the strata's deductible, usually around $25,000. However, with the increasing deductibles, this coverage may not be sufficient to cover the entire amount. It is important to review your condo insurance policy and consider purchasing additional coverage to bridge the gap between the strata's deductible and your policy's coverage limits.

Availability of Coverage: Not all insurance companies offer coverage for high deductibles. It is important to shop around and find an insurance provider that offers coverage for these increased deductibles. Some companies may provide options to purchase additional coverage to protect against high deductibles.

To ensure you are adequately protected when buying a condo in BC Vancouver, it is recommended to:

  • Review the strata's insurance policy and understand the deductibles for water damage and sewer backup claims.
  • Evaluate your condo insurance policy and check the coverage for the strata's deductible. Consider purchasing additional coverage if necessary.
  • Shop around and compare insurance providers to find the best coverage options for high deductibles.
  • Consult with an insurance advisor or broker who can provide guidance and help you choose the right insurance coverage for your needs.

Please note that the information provided here is a general overview, and it is advisable to consult with an insurance professional to understand the specific details and requirements related to water deductible insurance when buying a condo in BC Vancouver.


  1. 增加的墊底費:溫哥華公寓的分層保險政策中,水損和下水道回流索賠的墊底費大幅增加。這些墊底費可能高達25萬加元或更高。這意味著如果建築物發生與水有關的事故,例如管道爆裂,並且損害超過墊底費,公寓業主可能需要支付剩餘金額。
  2. 財務責任:如果公寓業主沒有額外的保險來支付分層的墊底費,則在單位造成的損害情況下,他們可能需要個人承擔支付墊底費的責任。這可能導致巨大的財務負擔,特別是如果墊底費在數十萬加元的範圍內。
  3. 保險覆蓋有限:標準公寓保險政策通常涵蓋一定金額的分層墊底費,通常約為2.5萬加元。然而,隨著墊底費的增加,這種覆蓋可能不足以支付整個金額。建議您檢查您的公寓保險政策,並考慮購買額外的保險來彌補分層墊底費和您的保單覆蓋限額之間的差額。
  4. 保險覆蓋的可用性:並非所有保險公司都提供高墊底費的保險覆蓋。建議您四處比較,找到提供這些增加墊底費保險覆蓋的保險提供商。一些公司可能提供額外的保險選項,以保護您免受高墊底費的影響。


  • 檢查分層的保險政策,了解水損和下水道回流索賠的墊底費。
  • 評估您的公寓保險政策,檢查對分層墊底費的保險覆蓋。如有需要,考慮購買額外的保險覆蓋。
  • 四處比較,找到最佳的保險提供商,以獲得高墊底費的最佳保險覆蓋選項。
  • 諮詢保險顧問或經紀人,他們可以提供指導,幫助您選擇適合您需求的保險覆蓋。


July 12, 2023

Remarks by Tiff Macklem

Governor of the Bank of Canada Monetary Policy Report Press Conference Opening Statement
July 12, 2023

Review and Summary: 

In today's announcement, the Bank of Canada raised its policy interest rate by 25 basis points to 5% and confirmed its commitment to quantitative tightening. The decision was based on two main considerations. Firstly, while monetary policy has been effective in combating inflation, underlying inflationary pressures have proven to be more persistent than anticipated. The increase in interest rates aims to slow down economic demand and alleviate price pressures. Secondly, the bank aims to strike a balance between the risks of under- and over-tightening monetary policy, avoiding unnecessary economic hardship.

The global and Canadian economies have exhibited stronger-than-expected growth, with persistent inflationary pressures in services driven by robust demand and tight labor markets. Consumer spending on services remains strong, and there has been some pickup in activity in the housing market. Factors such as a tight labor market, wage growth exceeding what is consistent with price stability, and accumulated savings from the COVID-19 pandemic have been supporting household spending.

While consumer price index (CPI) inflation has declined, it is largely due to lower energy prices and base-year effects. Core inflation, which measures underlying inflationary pressures, has not decreased as much as anticipated. Although near-term inflation expectations are moderating, they remain high. The Bank of Canada expects economic growth to moderate, and inflation to ease over time, but at a slower pace than previously forecasted. The forecast suggests that the economy will move into modest excess supply in early 2024, relieving price pressures.

The decision to raise the policy rate reflects the persistence of excess demand and underlying inflationary pressures. The Governing Council concluded that a more restrictive monetary policy was necessary to bring inflation back to the target of 2%. While acknowledging the challenges posed by higher rates for Canadians, the Bank emphasized that the full effects of previous rate increases take time to manifest. Future rate decisions will be based on available information, with the objective of gradually returning inflation to the target level.

The Bank of Canada remains vigilant about the risks of excess demand and underlying inflation, and it acknowledges the potential for inflation to rise if there are upside surprises. The bank will carefully assess incoming data, including demand growth, wage pressures, corporate pricing behavior, and inflation expectations, to determine the appropriate course of action. The ultimate goal is to achieve price stability, which fosters sustainable economic growth and provides Canadians with confidence in budgeting and investment decisions.


Tiff Macklem 央行行长讲话 加拿大银行货币政策报告新闻发布会开场致辞 2023年7月12日 渥太华







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