Greater Vancouver Real Estate Statistics - February 2023
Posted on Mar 13, 2023 in Market Update
Provincial Housing Market Showing Signs of Recovery Heading into Spring
The British Columbia Real Estate Association (BCREA) reports that a total of 4,775 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in February 2023, a decrease of 46.5 per cent from February 2022. The average MLS® residential price in BC in 2023...
Canadian Employment arises a few percent
Posted on Mar 10, 2023 in Economics
Canadian Employment (February 2023)
The Canadian Economy
Posted on Mar 09, 2023 in Economics
Economic Insights from Dr. Sherry Cooper
The Bank of Canada was the first major central bank to hit the pause button on rate hikes in late January. Given the slowdown in inflation in the recently released January CPI, The Bank of Canada will refrain from hiking interest rates this month.
That is welcome news for homeowners with adjustable-rate mortg...
That is welcome news for homeowners with adjustable-rate mortg...
Bank of Canada Pauses Rate Hikes As US Fed Promises Further Tightening
Posted on Mar 08, 2023 in Community
The Bank of Canada Holds Rates Steady Even As the Fed Promises to Push Higher
As expected, the central bank held the overnight rate at 4.5%, ending, for now, the eight consecutive rate increases over the past year. The Bank is also continuing its policy of quantitative tightening. This is the first pause among major central banks.
Economic growth gro...
Bank of Canada Interest Rate Announcement -March 8, 2023
Posted on Mar 08, 2023 in Economics
Bank of Canada Interest Rate Announcement
As signalled in its previous interest rate announcement, The Bank of Canada maintained its overnight rate at 4.5 per cent this morning. In the statement accompanying the decision, the Bank noted that restrictive monetary policy is weighing on demand and it expects weak economic growth for the next couple of...
Getting ready for the Spring Market
Posted on Mar 08, 2023 in Market Update
Preparing for the Spring Market
According to the Canadian Real Estate Association, the Spring market is anticipating a drop in home prices edging down approximately 6% from 2022, putting the average home price at $662,103 in 2023. The downward trend stems from rising interest rates and continued uncertainty in the marketplace.
In some cases, sellers...
