Greater Vancouver Real Estate Statistics - November 2022
Posted on Dec 02, 2022 in Market Update
Home sale and listing activity continue trending below long-term averages in November
While typically a quiet month of market activity based on seasonal patterns, November home sale and listing totals lagged below the region’s long-term averages.The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region tota...
Bank of Canada Unhappy With Latest Inflation Report
Posted on Nov 17, 2022 in Economics
Not only did the headline CPI inflation rate stall at 6.9% last month, but the core CPI numbers remain stubbornly high. Food inflation--a highly visible component--edged down slightly. Still, prices for food purchased from stores (+11.0%) continued to increase faster year over year than the all-items CPI for the eleventh consecutive month. Bonds fe...BC Home Sales Remain Slow While Active Listings Plateau
Posted on Nov 14, 2022 in Economics
The British Columbia Real Estate Association (BCREA) reports that a total of 5,242 residential unit sales were recorded by the Multiple Listing Service® (MLS® ) in October 2022, a decrease of 45.5 per cent from October 2021. The average MLS® residential price in BC was $932,979, a 3.1 per cent decrease from $963,011 recorded in October 2021. Total...BC Real Estate - Economic Forecast from BCREA
Posted on Nov 12, 2022 in Market Update
The factors that drove unprecedented demand during the last two years, including record low mortgage rates, buyer preference for extra space and the abiltity to work remotely, are now unwinding, prompting a significant shift in housing markets across BC. Most importantly, mortgage rates that hit record lows in 2021 have risen rapidly. Five-year fix...Greater Vancouver Real Estate Statistics - October 2022
Posted on Nov 02, 2022 in Market Update
Inflation, and rising interest rates create caution across Metro Vancouver’s housing market
Home sale activity across the Metro Vancouver housing market continued to trend well below historical averages in October.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,903 in October 2022, a 45...
The Bank of Canada Slowed the Pace of Monetary Tightening
Posted on Oct 28, 2022 in Mortgage News
The Governing Council of the Bank of Canada raised its target for the overnight policy rate by 50 basis points today to 3.75% and signalled that the policy rate would rise further. The Bank is also continuing its policy of quantitative tightening (QT), reducing its holdings of Government of Canada bonds, which puts additional upward pressure on lon...
