Vancouver Real Estate Foreclosures: Quick Pulse Check

Blog by Arnold Shuchat | March 19th, 2019

Foreclosure Pulse Check: 

All of Lower Mainland REBGV Area: 19 attached units out of 6845 units listed or .277%.
All of Lower Mainland REBGV Area for Detached units:
34 units out of 5469 units listed or .622%.
Whistler: 0 Detached Foreclosures out of 78 listings
              0 attached Foreclosures out of 200 listings

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%.

The numbers for Single Family Dwellings reported at .622% above are double what they were in November of 2018 using the same methodology.  Although the trend is certainly not positive, it is still not alarming given the percentages are still quite low.  Interestingly enough, recreational property, using Whistler as the litmus test has no current court ordered sales.