Monthly Archives: December 2014

Housing Market Ends Year in Balanced Conditions

Vancouver, BC – December 12, 2014. The British Columbia Real Estate Association (BCREA) reports that a total of 5,972 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in November, up 8.8 per cent from November 2013. Total sales dollar volume was $3.4 million, an increase of 12.1 per cent compared to a year ago. The average MLS® … Read More

RE/MAX 2015 Housing Market Outlook Report is Out!

REMAX-Housing-Report

Vancouver, December 10th, 2014 – RE/MAX’s 2015 Housing Market Outlook Report, indicates Canada’s average residential sale price is projected to increase two to three per cent in the year ahead.  The outlook for Vancouver and the Lower Mainland continues to be strong with the expectation of prices to continue rising, albeit more modestly, yet still matching the national … Read More

Bank of Canada Continuing To Hold Overnight Rate at 1.0%

BCREA Econ Interest Rate Ancmnt

The Bank of Canada announced this morning that it is holding its target overnight rate at one per cent. This marks the longest period without a change in the Bank’s policy rate since the 1950s. In the statement accompanying its decision, the Bank noted that inflation has been stronger than expected in the past year, though mainly due to temporary … Read More

Metro Vancouver Home Sales Remain Strong in November

Home buyers in Metro Vancouver remained active in November, a month that is traditionally a quieter time of year for real estate.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 2,516 on the Multiple Listing Service® (MLS®) in November 2014. This represents an 8.4 per cent increase compared to the 2,321 … Read More

Commercial Real Estate Gains Momentum in BC

dec1

The BCREA Commercial Leading Indicator (CLI) rose 1.4 index points to a new record high of 118.4, surpassing the previous high of 117.1 set in the second quarter of 2014.

“Momentum has been building in sectors most important to commercial real estate,” said BCREA Economist Brendon Ogmundson, “That momentum should translate to a strong year for the commercial market in … Read More