Strong Market Activity to Continue in 2022
Posted on Oct 28, 2021 in Market Update
BCREA 2021 Fourth Quarter Housing Forecast
The British Columbia Real Estate Association (BCREA) released its 2021 Fourth Quarter Housing Forecast today.
Multiple Listing Service® (MLS®) residential sales in the province are forecast to rise 29 per cent to 121,450 units this year, after recording 94,013 sales in 2020. In 2022, MLS® residential sales a...
COVID-19 Housing Market Recovery Dashboard
Posted on Oct 26, 2021 in Market Update
In September, sales, new listings and housing starts in BC all declined somewhat from August, extending the calming trend relative to peaks in March. While MLS® sales rose slightly in most regions of the province, a decline in the large market of the lower mainland caused a decline overall. Rental rates remain elevated in Victoria and Vancouver rel...Canadian Inflation (September 2021)
Posted on Oct 22, 2021 in Economics
Canadian prices, as measured by the Consumer Price Index (CPI), rose 4.4% on a year-over-year basis in September, rising at the fastest rate since 2003. On a month-over-month basis, the CPI was up 0.2% in September. The Bank of Canada's preferred measures of core inflation (which use techniques to strip out volatile elements) rose an average of 2.7...Canadian Housing Starts (September 2021)
Posted on Oct 19, 2021 in Economics
Canadian housing starts declined for the fourth consecutive month in September, but remain strong compared to typical pre-pandemic activity. Housing starts decreased by 11.6k to 251.2k units (-4.4% m/m) in September at a seasonally-adjusted annual rate (SAAR). Comparing year-over-year, starts were up significantly from September of 2020 (20.1% y/y...Canadian Home Prices Continued to Rise As Insufficient Supply Creates Excess Demand
Posted on Oct 18, 2021 in Economics
Today the Canadian Real Estate Association (CREA) released statistics showing national existing-home sales rose 0.9% between August and September 2021, posting the first monthly gain since March (see chart below). On a year-over-year (y-o-y) basis, the number of transactions last month was down 17.5%. Nevertheless, it was still the second-highest s...Canadian Employment (September 2021)
Posted on Oct 13, 2021 in Economics
Canadian employment grew for the fourth consecutive month in September, rising by 157,000 to 19.13 million (0.8%, m/m). During the survey period, several provinces had reintroduced or planned to reintroduce vaccine passports and indoor masking. Restrictions on international travelers entering the country were eased on September 7th, likely boosting...