March 2024 Market Statistics
Posted on Apr 05, 2024 in Statistics
The month of March brought additional much-needed inventory to our real estate markets but many buyers are still waiting for interest rate cuts.
These interest rate cuts depend on the latest economic data The latest employment data comes days before the Bank of Canada’s next interest rate announcement, which is set for April 10. The central bank ha...
These interest rate cuts depend on the latest economic data The latest employment data comes days before the Bank of Canada’s next interest rate announcement, which is set for April 10. The central bank ha...
February 2024 Market Statistics
Posted on Mar 05, 2024 in Statistics
There is nothing surprising to report for the February month market activity... more properties were newly listed and the sales activity increased month over month. Bank of Canada had their meeting yesterday and decided to hold its key interest rate steady at 5% again. What was unexpected was some noteworthy changes from the new BC Budget.
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January 2024 Market Statistics
Posted on Feb 06, 2024 in Statistics
Throughout 2023, Canadians grappled with economic uncertainty and volatile housing markets, particularly in Metro Vancouver. We believe that 2024 will be the start of a dramatic turnaround in the real estate market.
Inflation: After a significant drop from its peak of 8.1% in July 2022 to 4.0% in September 2023, inflation is expected to return to th...
Inflation: After a significant drop from its peak of 8.1% in July 2022 to 4.0% in September 2023, inflation is expected to return to th...
December 2023 Market Statistics
Posted on Jan 05, 2024 in Statistics
The last month of 2023 did not reveal any surprises in the BC real estate market. As is common for December, sales activity was down and exacerbated further by high interest rates. The high interest rates have kept many buyers (and even sellers) on the sidelines, and with the rates expected to ease up in 2024, we expect a flurry of buyer and seller...
November 2023 Market Statistics
Posted on Dec 05, 2023 in Statistics
2023 is on it's way to have the fewest new property listings in a year since 2002.
The BC NDP has swiftly passed several bills to increase the housing supply and control speculation. One of them deals with short-term rentals and regulations imposed on short-term rental platforms such as Airbnb. We expect there will be a notable impact on both the re...
The BC NDP has swiftly passed several bills to increase the housing supply and control speculation. One of them deals with short-term rentals and regulations imposed on short-term rental platforms such as Airbnb. We expect there will be a notable impact on both the re...
October 2023 Market Statistics
Posted on Nov 07, 2023 in Statistics
As October drew to a close, the real estate market embraced the spirit of the season with Halloween, ending the month on an eerie note. :^) Listings have started to accumulate, while sales remain lagging. In some areas, we've observed a slight uptick in prices, particularly in the condo segment, possibly owing to their affordability. Detached homes...