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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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Higher Mortgage Rates Will Slow Housing Activity in BC Through 2023

Posted on Sep 08, 2022 in Market Update

Higher Mortgage Rates Will Slow Housing Activity in BC Through 2023The British Columbia Real Estate Association (BCREA) released its 2022 Third Quarter Housing Forecast Update today.

Multiple Listing Service® (MLS®) residential sales in BC are forecast to decline 34.4 per cent from a record high 2021 to 81,900 units this year. In 2023, MLS® residential sales are forecast to fall an additional 5 per cent to 77,790 u...

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Bank of Canada Interest Rate Announcement - September 2022

Posted on Sep 07, 2022 in Mortgage News

Bank of Canada Rates - Vancouver Real EstateAs was widely expected, the Bank of Canada raised its overnight policy rate by 0.75 basis points, bringing it to 3.25 per cent. In the statement accompanying the decision, the Bank noted that while CPI inflation eased somewhat in July, that easing was due only to a fall in gasoline prices and more broad-based measures of price growth like core infl...

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Greater Vancouver Real Estate Statistics - August 2022

Posted on Sep 02, 2022 in Market Update

Vancouver Real Estate Statistics - August 2022Metro Vancouver’s housing market sees fewer home buyers and sellers in August

Metro Vancouver’s housing market is experiencing a quieter summer season marked by reduced sale and listing activity.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,870 in August 2022, a 40.7 per cent decrease...

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Canadian Monthly Economic Growth

Posted on Sep 01, 2022 in Economics

Canadian GDP & SpendingThe Canadian economy rose 0.1 per cent in June, up for the fifth consecutive month. Goods-producing sectors rose 0.1 per cent while services-producing industries were up 0.2 per cent. Canadian real GDP is now roughly 2.3 per cent above its pre-pandemic, February 2020 level. However, preliminary estimates suggest that output in the Canadian economy...

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Canadian Inflation Slowed On Gas Price Decline, But Not Enough To Satisfy Anyone

Posted on Aug 20, 2022 in Economics

Vancouver real estate inflation fearsGasoline Prices Dipped, But No Time To Celebrate

While we are all grateful that gasoline prices declined from record highs in July, today's release of the July inflation data shows that the underlying inflation momentum remains too strong for comfort. Governor Macklem will likely continue to hike the policy rate aggressively when they next announce...

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Canadian Housing Starts - July 2022

Posted on Aug 18, 2022 in Economics

New Construction in CanadaCanadian housing starts rose by 2.9k (1.1 per cent) to 275.3k units in July at a seasonally-adjusted annual rate (SAAR). Comparing year-over-year, starts were up from July of 2021 (0.5 per cent). Single-detached housing starts rose 1.6 per cent to 72.6k, while multi-family and others rose 0.9 per cent to 202.7k (SAAR).

In British Columbia, starts f...

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