Tag Archives: Economics

BCREA Housing Market Update – March 2018

The British Columbia Real Estate Association (BCREA) reports that a total of 6,206 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in February, a 5.7% decrease from the same period last year. The average MLS® residential price in BC was $748,327, up 8.8% from the previous year. Total sales dollar volume was … Read More

New Mortgage Qualification Rules Temper Housing Demand

MLS Residential Sales - Feb'18 - Mark J. Walker

It appears the new mortgage qualification rules have tempered housing demand.  The British Columbia Real Estate Association (BCREA) reports that a total of 6,206 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in February, a 5.7% decrease from the same period last year. The average MLS® residential price in BC was $748,327, up 8.8% … Read More

BC Housing Demand Forecast Slower Through 2019

Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 8.6 per cent to 94,855 units this year, after recording 103,763 residential sales in 2017. MLS® residential sales are forecast to edge back a further 1 per cent to 94,025 units in 2019. Housing demand is expected to remain above the 10-year average of 84,800 units into … Read More

Housing Starts Record Pace Won’t Alleviate Near-Term Market Imbalance

Despite the news of BC Housing starts record pace it won’t alleviate near-term market imbalance.  Metro Vancouver home sales eclipsed 5,000 in March for the first time on record. Residential property sales in the region totalled 5,173 in March 2016, an increase of 27.4 per cent from the 4,060 sales recorded in March 2015 and an increase of 24 per … Read More

Vigorous Housing Demand Unabated in August

The British Columbia Real Estate Association (BCREA) reports vigorous housing demand unabated in August, throughout BC. A total of 8,811 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in August, up 20 per cent from the same month last year. Total sales dollar volume was $5.5 billion, a 32.8 per cent increase in comparison to the previous … Read More

Tight Supply and Competition Continues Driving Metro Vancouver’s Housing Market

Tight supply & competition continues driving Metro Vancouver’s housing market, as home buyers spent the summer months struggling in the search for their next home. Between June and August, home sales were between 25 and 30 per cent above the ten-year sales average.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached … Read More

CMHC Spring Report Shows Trend of Steady Growth Continues in Vancouver

CMHC Building Logo Spring'15

The latest CMHC Spring report shows trend of steady growth continues in Vancouver, while It’s the same old story for the rest of the Canadian housing market – lower oil prices are leaving oil-producing provinces such as Alberta vulnerable, while other markets like Ontario and B.C. continue to benefit.

Housing markets will remain stable as housing starts vary slightly in … Read More

Hottest April for Home Sales in a Decade

BCREA Chart of Hottest April for Home Sales in a Decade

The British Columbia Real Estate Association (BCREA) reports that BC just had the hottest April for home sales in a decade, with a total of 9,952 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in May, up 28.7 per cent from the same month last year. Total sales dollar volume was $6.3 billion, a 45.5 per cent … Read More

BC Housing Demand Continues Strong Through February

2015-02chart

BC Housing Demand Continues Strong through February.  BCREA reports that a total of 6,661 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in February, up 19.4 per cent from the same month last year. Total sales dollar volume was $4.3 billion, an increase of 24.8 per cent compared to a year ago. The average MLS® residential price … Read More

Strong Growth Expected for Commercial Real Estate Sector in 2015

BCREA Commercial Leading Indicator

The BCREA Commercial Leading Indicator (CLI) rose 0.8 index points to 119.8, the fourth consecutive quarterly increase. The continued advance in the CLI trend points to optimism surrounding the economic environment underlying the commercial real estate market.

“Rising consumer confidence combined with a lower value of the loonie and a strengthening US economy helped to push the economic activity component … Read More