{"id":747,"date":"2023-01-05T10:04:15","date_gmt":"2023-01-05T18:04:15","guid":{"rendered":"https:\/\/www.ballard360.com\/blog\/?p=747"},"modified":"2023-01-05T10:07:41","modified_gmt":"2023-01-05T18:07:41","slug":"december-market-update","status":"publish","type":"post","link":"https:\/\/www.ballard360.com\/blog\/2023\/01\/05\/december-market-update\/","title":{"rendered":"December Market Update"},"content":{"rendered":"<p class=\"p1\" style=\"margin: 0cm;\"><span class=\"s1\"><span style=\"font-size: 13.0pt; font-family: 'UICTFontTextStyleBody',serif;\">The stats are in!<\/span><\/span><\/p>\n<p class=\"p2\" style=\"margin: 0cm; min-height: 22px;\"><span style=\"font-size: 13.0pt;\">\u00a0<\/span><\/p>\n<p class=\"p1\" style=\"margin: 0cm;\"><span class=\"s1\"><span style=\"font-size: 13.0pt; font-family: 'UICTFontTextStyleBody',serif;\">The December 2022 stats from the Real Estate Board of Greater Vancouver have shown benchmark sale prices fell 1.2% from November 2022 and 9.8% over the last 6 months.<\/span><\/span><\/p>\n<p class=\"p2\" style=\"margin: 0cm; min-height: 22px;\"><span style=\"font-size: 13.0pt;\">\u00a0<\/span><\/p>\n<p class=\"p1\" style=\"margin: 0cm;\"><span class=\"s1\"><span style=\"font-size: 13.0pt; font-family: 'UICTFontTextStyleBody',serif;\">As the 2023 spring market approaches, we will gain further insight into the continuing effects of the rapidly increased costs of borrowing.<\/span><\/span><span class=\"apple-converted-space\"><span style=\"font-size: 13.0pt; font-family: 'UICTFontTextStyleBody',serif;\">\u00a0<\/span><\/span><\/p>\n<p class=\"p2\" style=\"margin: 0cm; min-height: 22px;\"><span style=\"font-size: 13.0pt;\">\u00a0<\/span><\/p>\n<p class=\"p1\" style=\"margin: 0cm;\"><span class=\"s1\"><span style=\"font-size: 13.0pt; font-family: 'UICTFontTextStyleBody',serif;\">The next Bank of Canada interest rate announcement is scheduled for January 26, 2023.<\/span><\/span><span class=\"apple-converted-space\"><span style=\"font-size: 13.0pt; font-family: 'UICTFontTextStyleBody',serif;\">\u00a0<\/span><\/span><\/p>\n<p class=\"p2\" style=\"margin: 0cm; min-height: 22px;\"><span style=\"font-size: 13.0pt;\">\u00a0<\/span><\/p>\n<p class=\"p1\" style=\"margin: 0cm;\"><span class=\"s1\"><span style=\"font-size: 13.0pt; font-family: 'UICTFontTextStyleBody',serif;\">As interest rates have risen, the number of sales per month have decreased. As properties are taking longer to sell, buyers are increasingly able to conduct due diligence, view properties, and negotiate.<\/span><\/span><\/p>\n<p class=\"p2\" style=\"margin: 0cm; min-height: 22px;\"><span style=\"font-size: 13.0pt;\">\u00a0<\/span><\/p>\n<p class=\"p1\" style=\"margin: 0cm;\"><span class=\"s1\"><span style=\"font-size: 13.0pt; font-family: 'UICTFontTextStyleBody',serif;\">The number of new listings per month has also decreased, particularly over the past few months. This does support those who are looking to sell in 2023 as the amount of competition is reduced.<\/span><\/span><\/p>\n<p class=\"p2\" style=\"margin: 0cm; min-height: 22px;\"><span style=\"font-size: 13.0pt;\">\u00a0<\/span><\/p>\n<p class=\"p1\" style=\"margin: 0cm;\"><span class=\"s1\"><span style=\"font-size: 13.0pt; font-family: 'UICTFontTextStyleBody',serif;\">Have any questions? Give us a call!<\/span><\/span><\/p>\n<p class=\"p2\" style=\"margin: 0cm; min-height: 22px;\"><span style=\"font-size: 13.0pt;\">\u00a0<\/span><\/p>\n<p class=\"p1\" style=\"margin: 0cm;\"><span class=\"s1\"><span style=\"font-size: 13.0pt; font-family: 'UICTFontTextStyleBody',serif;\">James &#8211; 604-360-7529<\/span><\/span><\/p>\n<p class=\"p2\" style=\"margin: 0cm; min-height: 22px;\"><span style=\"font-size: 13.0pt;\">\u00a0<\/span><\/p>\n<p class=\"p1\" style=\"margin: 0cm;\"><span class=\"s1\"><span style=\"font-size: 13.0pt; font-family: 'UICTFontTextStyleBody',serif;\">Source: The Real Estate Board of Greater Vancouver<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p>NORTH VANCOUVER<\/p>\n<p><iframe loading=\"lazy\" style=\"border: 0;\" src=\"https:\/\/statscentre.rebgv.org\/infoserv\/s-v1\/1fmr-jxz?w=800&amp;h=600\" width=\"800\" height=\"600\"><\/iframe><\/p>\n<p>WEST VANCOUVER<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/statscentre.rebgv.org\/infoserv\/s-v1\/1fhJ-e4u?w=800&amp;h=600\" width=\"800\" height=\"600\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The stats are in! \u00a0 The December 2022 stats from the Real Estate Board of Greater Vancouver have shown benchmark sale prices fell 1.2% from November 2022 and 9.8% over &hellip; [<a href=\"https:\/\/www.ballard360.com\/blog\/2023\/01\/05\/december-market-update\/\">read more<\/a>]<\/p>\n","protected":false},"author":5,"featured_media":629,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,2],"tags":[],"_links":{"self":[{"href":"https:\/\/www.ballard360.com\/blog\/wp-json\/wp\/v2\/posts\/747"}],"collection":[{"href":"https:\/\/www.ballard360.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ballard360.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ballard360.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ballard360.com\/blog\/wp-json\/wp\/v2\/comments?post=747"}],"version-history":[{"count":3,"href":"https:\/\/www.ballard360.com\/blog\/wp-json\/wp\/v2\/posts\/747\/revisions"}],"predecessor-version":[{"id":750,"href":"https:\/\/www.ballard360.com\/blog\/wp-json\/wp\/v2\/posts\/747\/revisions\/750"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ballard360.com\/blog\/wp-json\/wp\/v2\/media\/629"}],"wp:attachment":[{"href":"https:\/\/www.ballard360.com\/blog\/wp-json\/wp\/v2\/media?parent=747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ballard360.com\/blog\/wp-json\/wp\/v2\/categories?post=747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ballard360.com\/blog\/wp-json\/wp\/v2\/tags?post=747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}