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Adam Chahl

Oakwyn Realty

1286 Homer Street Vancouver, British Columbia V6B 2Y5

Phone: (604) 800-8710

adam@chahl.com

Featured Vancouver Properties

314 55 E CORDOVA STREET

Apartment/Condo in Downtown VE

Oakwyn Realty Ltd. (R2947933)

Akasha - Cap Estate, St. Lucia, West Indies

House/Single Family in St Lucia

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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...

Canadian Jobs Market Booms Despite Rate Hikes

Posted on Feb 10, 2023 in Community

Red Hot Labour Market Despite Rate Hikes

Today's Labour Force Survey (LFS) for January was much stronger than expected, once again calling into question how long the Bank of Canada's rate pause will last. This report showed no evidence that the labour market is slowing in response to the vast and rapid runup in interest rates.

Employment surged by 1...

Canadian Employment Rises

Posted on Feb 10, 2023 in Community

Canadian Employment (January 2023)

Canadian employment rose to 20.03 million in January, up by 150,000 (0.5 percent). The Canadian unemployment rate held steady at 5 percent, hovering just above all-time lows. Employment gains were concentrated among workers aged 25 to 54; workers in Ontario, Quebec, and Alberta; and workers in wholesale and retail...

Homeowners' Top Reasons to Sell

Posted on Feb 09, 2023 in Market Update

The Top Reasons for Selling Your House

Many of today’s homeowners bought or refinanced their homes during the pandemic when mortgage rates were at history-making lows. Since rates doubled in 2022, some of those homeowners put their plans to move on hold, not wanting to lose the low mortgage rate they have on their current house. And while today’s ra...

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...

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