Strengthening Protection for Strata Property Owners
Posted on Feb 17, 2023 in Market Update
Better protection for strata property owners coming in November
Strata property owners in stratas which have been neglecting maintenance, risking higher insurance costs, will have new protections starting November 1, 2023.
Amendments to the Strata Property Act will raise the minimum amount developers and strata corporations must contribute to the con...
Amendments to the Strata Property Act will raise the minimum amount developers and strata corporations must contribute to the con...
Canadian Housing Starts to Fall
Posted on Feb 15, 2023 in Market Update
Canadian Housing Starts (January 2023)
Canadian housing starts declined 13.3 percent to 215,365 units in January at a seasonally-adjusted annual rate (SAAR). Starts were down 6.9 percent from January 2022. Single-detached housing starts rose 9.5 percent to 62.9k, while multi-family and others fell 20.1 percent to 152.5k (SAAR).
In British Columbia...
Housing Market Activity is Decreasing
Posted on Feb 14, 2023 in Market Update
Housing Market Activity Off to a Slow Start in 2023
The British Columbia Real Estate Association (BCREA) reports that a total of 3,047 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in January 2023, a decrease of 50.3 percent from January 2022. The average MLS® residential price in BC in 2023 has seen a dip to $872...
Homeowners' Top Reasons to Sell
Posted on Feb 09, 2023 in Market Update
The Top Reasons for Selling Your House
2023 First Quarter Housing Forecast Update
Posted on Feb 06, 2023 in Market Update
Housing Market Faces a Challenging 2023 Before Posting a Strong Recovery in 2024
Multiple Listing Service® (MLS®) residential sales in BC are forecast to decline 7.1 percent to 75,150 units this year. In 2024, MLS® residential sales are forecast to post a strong rebound, rising 23.8 percent to 93,025 units.
“A slowing economy and still elevated mortg...
Vancouver Real Estate Market Update - January 2023
Posted on Feb 02, 2023 in Market Update
Home sales decline below long-term averages and inventory remains low to the start of 2023
Inventory remains low in Metro Vancouver while home sales dipped well below monthly historical averages in January.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totaled 1,022 in January 2023, a 55.3 percen...
