BC Housing Market Resilient Despite High Rates - Third Quarter Housing Forecast Update
Posted on Aug 29, 2023 in Market Update
The British Columbia Real Estate Association (BCREA) released its 2023 Third Quarter Housing Forecast Update today. Multiple Listing Service® (MLS®) residential sales in BC are forecast to decline 2.8 per cent to 78,640 units this year. In 2024, MLS® residential sales are forecast to post a modest rebound, rising 6.1 per cent to 83,425 units. “The...Greater Vancouver Real Estate Statistics - July 2023
Posted on Aug 02, 2023 in Market Update
Strong sales push Metro Vancouver home prices past the rate hike in July.Home prices across all home types in Metro Vancouver rose again in July, as strong sales figures continue to push up against low levels of housing inventory in the region.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region total...
Bank of Canada Interest Rate Announcement -July 12, 2023
Posted on Jul 12, 2023 in Mortgage News
The Bank of Canada raised its overnight rate by 25 basis points to 5 per cent this morning. In the statement accompanying the decision, the Bank noted that the Canadian economy has been stronger than expected but is expected slow as higher interest rate work their way through the economy. On inflation, the Bank cited the recent easing of inflation...Strong Canadian Job Growth in June Will Not Please The Bank of Canada
Posted on Jul 11, 2023
It's a Close Call Which Way the Bank Will Go
Employment growth last month came in at a whopping 60,000 jobs, tripling expectations, and most of those net new jobs were for full-time workers. As our population grows, more people are available to fill job vacancies. Employment rose in wholesale and retail trade (+33,000), manufacturing (+27,000), heal...Greater Vancouver Real Estate - June 2023 Market Update
Posted on Jul 05, 2023
Home prices continue to rise in Metro Vancouver’s housing market to kick off the summer
Continuing the trend that has emerged in the housing market this year, the benchmark price for all home types in Metro Vancouver1 increased in June as home buyer demand butted up against a limited inventory of homes for sale in the region.The Real Estate Board of...
Canadian Real GDP Growth (April 2023)
Posted on Jul 01, 2023 in Economics
Canadian real GDP was flat from the prior month in April, following a 0.1 per cent increase in March. Goods-producing sectors of the economy grew 0.1 per cent while services-producing sectors were flat. Construction activity rose 0.4 per cent as lower residential construction activity was offset by other subsectors, including engineering constructi...