Vancouver Real Estate Foreclosure: Quick Pulse Check

Blog by Arnold Shuchat | November 8th, 2018

Foreclosure Pulse Check: 

All of Lower Mainland REBGV Area: 16 attached units out of 6691 units listed or .2%.
All of Lower Mainland REBGV Area for Detached units:
21 units out of 5999 units listed or .3%.
Whistler: 0 Detached Foreclosures
              0 attached Foreclosures

To my knowledge these numbers are more favourable AT THIS MOMENT than they were during the lull in 2012-2013.

My hypothesis at the time was that recreational property would be the first to go, before the family home and as far as I can remember Whistler at the worst time had a court ordered sale rate of .8% whereas Richmond, West Vancouver, Vancouver West and North Vancouver were running at .4%.

These numbers are far lower right now and given that they include the entire REBGV service area, would indicate that we are not yet if at all near previous levels.

In any event, these numbers are ridiculously low in terms of showing homeowner financial stress.