September 21st, 2022
Yesterday brought the latest numbers on Canada’s housing market, confirming that the pandemic boom is over. Home sales dropped 5.3% in July, the fifth month in a row of declines. … [read more]
September 21st, 2022
Activity in the Lower Mainland’s commercial real estate market edged down in the second quarter (Q2) of 2022 from the brisker pace experienced at the start of the year. There … [read more]
Comments Off on Lower Mainland’s Commercial Real Estate Market Edged Down in Q2
September 20th, 2022
Vancouver, BC – September 13, 2022. The British Columbia Real Estate Association (BCREA) reports that a total of 5,645 residential unit sales were recorded by the Multiple Listing Service® (MLS®) … [read more]
Comments Off on BCREA Housing Market Conditions Balancing
September 20th, 2022
The average price of homes sold in Canada in August fell 3.9% from the same month last year to $637,673 according to new statistics released Thursday by the Canadian Real … [read more]
Comments Off on Canadian Average Home Price Down 3.9% Y/Y, Home Sales Edged Down Just 1% M/M
September 19th, 2022
Canadian real estate inventory may reach a crisis point, according to a new report released this week. The RE/MAX Canada Housing Inventory Report analyzed active listings in eight major Canadian … [read more]
Comments Off on Canadian Housing Inventory Levels May Reach A Crisis Point
September 19th, 2022
A shortage of new condominiums and townhouses is looming in Metro Vancouver as soaring costs of new construction have chopped presales at new project launches and put several planned developments … [read more]
Comments Off on New Home Starts Fall 41% as Land Prices & Input Costs Threaten to Push Prices Out of Reach
September 19th, 2022
BC home sales are forecast to continue to slump, as high mortgage rates put pressure on the housing market through to next year, according to the BC Real Estate Association. … [read more]
Comments Off on BCREA Predicts High Mortgage Rates will Slow The Housing Market Through 2023
September 14th, 2022
Vancouver, BC – September 8, 2022. The British Columbia Real Estate Association (BCREA) released its 2022 Third Quarter Housing Forecast Update today. Multiple Listing Service® (MLS®) residential sales in BC … [read more]
Comments Off on Higher Mortgage Rates will Slow Housing Activity in BC Through 2023
September 13th, 2022
The Bank of Canada (BoC) announced its fifth interest rate increase of the year, raising rates by another 75 basis points. This follows its July announcement where the Bank announced … [read more]
Comments Off on Bank of Canada 5th but Not Final Interest Rate Increase for 2022 & The Impact on Housing Market
September 13th, 2022
August was one of the warmest Metro Vancouver summers on record but one of the coolest for the housing market, as sales in the month fell 29.2% below the 10-year … [read more]
Comments Off on Metro Vancouver Home Sales Dropped 40.7% Y/Y, Home Price Fell 2.2% M/M as Listings Decline
September 12th, 2022
It may have been a hot summer but Metro Vancouver’s real estate market is showing signs of cooling down. The Real Estate Board of Greater Vancouver said last month’s home … [read more]
Comments Off on Metro Vancouver Sellers & Buyers were Exercising Caution
September 12th, 2022
A year-over-year increase in active listings and relatively steady sales activity brought a degree of balance to the Fraser Valley housing market in August, with benchmark home prices up from … [read more]
Comments Off on FVREB Home Sales were Up M/M & Benchmark Prices Increased 15% Y/Y
September 9th, 2022
Project marketers say rate hikes are prompting a growing number of developers to halt or postpone the launch of residential projects until the rate environment stabilizes. “Many of the developers … [read more]
Comments Off on New-Construction Projects Launches Continue, Sharp Rise in Rates May Have Spooked Some Buyers
September 9th, 2022
Housing markets are unique for their location, type, quality and size, so a decline in the average housing price is not the same as a decline in the price of … [read more]
Comments Off on More Nuanced Statistics Show The Magnitude of Sale & Price Movements is In The Expected Range
September 8th, 2022
After fuelling Canada’s economy through the COVID-19 pandemic, the real estate market is showing signs of weakness as home prices fall and bidding wars dissipate. It’s welcome news for prospective … [read more]
Comments Off on What to Expect Canada’s Real Estate Market This Fall?
September 7th, 2022
SURREY, BC – Robust active listings and relative steady sales activity continued to bring balance to the Fraser Valley real estate market in August. The past several months of rising … [read more]
Comments Off on FVREB Housing Market Settling Further in Response to Interest Rate Rises
September 6th, 2022
Many people remember the financial and housing crises of 2007 and 2008. That’s when the overheated housing market didn’t just slow down but instead went into a tailspin with millions … [read more]
Comments Off on There’s No Room for A Bubble : Both Interest Rates & Home Prices to Continue Increasing but at A Slower Rate
September 6th, 2022
BENGALURU, Sept 2 (Reuters) – Canada’s soaring house prices will decline sharply next year, but still not enough to make them affordable as the Bank of Canada is set to … [read more]
Comments Off on Canada House Prices Set for Sharp Fall in 2023
September 2nd, 2022
Metro Vancouver’s housing market is experiencing a quieter summer season marked by reduced sale and listing activity. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales … [read more]
Comments Off on REBGV Housing Market Activity Shifted Below The Long-Term Seasonal Averages This Summer
September 1st, 2022
While three-quarters of Metro Vancouver markets saw home price declines, detached house prices on the Sunshine Coast and Squamish held steady from the first quarter to the second quarter (Q2), … [read more]
Comments Off on High-Priced Vancouver’s West Side & West Vancouver Out-Perform 3-Quarters of Metro Markets
August 31st, 2022
Month-Over-Month Before seasonal adjustment, the Teranet–National Bank National Composite House Price Index decreased 0.3% from June to July, the first monthly decline since September 2019. After seasonal adjustment, the Teranet–National … [read more]
Comments Off on Home Prices Have Come Down from The Peak, HPI Falling 0.2% M/M After Seasonal Adjustments
August 30th, 2022
The latest Canadian housing report by the Canadian Real Estate Association (CREA) found that sales were down in three-quarters of all local markets led by the Greater Toronto Area (GTA), … [read more]
Comments Off on CREA : Housing Adjustment Continue as Home Sales Drop
Comments Off on RBC : Canada Housing Market Hasn’t Seen Bottom Yet, Prices Dropping 12% Nation-Wide