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PLACE Real Estate Team - Adam Chahl

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Adam Chahl

Oakwyn Realty

1286 Homer Street  Vancouver,  British Columbia  V6B 2Y5 

Phone: (604) 800-8710

adam@chahl.com

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Inflation Cooled Again in August, But Higher Rates Still Coming

Posted on Sep 20, 2022 in Economics

Inflation Cooled Again in August, But Higher Rates Still ComingCanada's headline inflation rate cooled again in August, even a bit more than expected. The consumer price index rose 7.0% from a year ago, down from 7.6% in July and a forty-year high of 8.1% in June, mainly on the back of lower gasoline prices.

The CPI fell 0.3% in August, the most significant monthly decline since the early months of the COVID-1...

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Housing Softens Again in August

Posted on Sep 16, 2022 in Market Update

Housing Softens Again in AugustThe full effects of the most recent rate hikes have not yet manifested. Statistics released today by the Canadian Real Estate Association (CREA) show that the slowdown that began in March in response to higher interest rates continued in August, albeit at a slower pace. Home sales recorded over Canadian MLS® Systems fell by 1.0% between July and Au...

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Canadian Housing Starts (August 2022)

Posted on Sep 16, 2022 in Economics

 Canadian Housing Starts (August 2022)Canadian housing starts fell by 7.7k (2.8 per cent) to 267.4k units in August at a seasonally-adjusted annual rate (SAAR). Comparing year-over-year, starts were up from August of 2021 (2.5 per cent). Single-detached housing starts rose 1 per cent to 73.4k, while multi-family and others declined 4.2 per cent to 194k (SAAR).

In British Columbia, star...

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Lower Mainland’s commercial real estate market sees fewer transactions in the second quarter of 2022

Posted on Sep 15, 2022 in Market Update

Lower Mainland’s commercial real estate market sees fewer transactions in the second quarter of 2022Activity 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 were 485 commercial real estate sales in the Lower Mainland in Q2 2022, a 34.3 per cent decrease from the 738 sales in Q2 2021, according to data from Commercial Edge, a commer...

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BC Housing Market Showing Signs of Stabilizing Despite Decreased Activity

Posted on Sep 13, 2022 in Market Update

BC Housing Market Showing Signs of Stabilizing Despite Decreased ActivityThe British Columbia Real Estate Association (BCREA) reports that a total of 5,645 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in August 2022, a decrease of 40.8 per cent from August 2021. The average MLS® residential price in BC was $918,378, a 2.1 per cent increase from $899,428 recorded in August 2021. Total sale...

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Job Market Weakens As Economy Slows

Posted on Sep 09, 2022 in Economics

Canada Jobs ReportThe August employment report, released this morning by Statistics Canada, was considerably weaker than expected. Higher interest rates have slowed the red-hot labour market. The Canadian economy shed 39,700 jobs in August, missing market expectations of a 15,000 rise and bringing cumulative declines since May 2022 to 113,500 (see chart below). The...

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