Buyer’s market conditions continue in Greater Vancouver Conditions in the Greater Vancouver housing market continued to favour buyers in August. Since April, prices have edged down slightly as the number of sales and the number of properties coming on to the market have been declining. The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,202 in August 2010. This represents a 36 per cent decline from the 3 ... Full Article...

  Home Buyers in the Driver's Seat Vancouver, BC – August 12, 2010. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province declined 42 per cent to 5,784 units in July compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province declined 19 per cent in July from June 2010. The average MLS® residential price climbed 6 per cent to $491,832 in July compared to t ... Full Article...

August 4, 2010 REBGV Stats Homebuyers and sellers less active in July Home sales activity in Greater Vancouver was quieter last month than most Julys over the past decade, with residential sales, prices, and the number of homes listed for sale trending downward in recent months. The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,255 in July 2010. This represents a 45.2 per cent decline from the 4,114 sa ... Full Article...

BC Home Sales to Rise in 2011 BCREA Housing Forecast Update - Third Quarter 2010 Vancouver, BC – July 30, 2010. The British Columbia Real Estate Association (BCREA) released its Housing Forecast Update for the third quarter of 2010 today. BC Multiple Listing Service® (MLS®) residential sales are forecast to decline 7 per cent from 85,028 units in 2009 to 79,500 units this year, before increasing 5 per cent to 83,400 units in 2011. “The volatility in consumer demand characteristic o ... Full Article...

Tuesday, July 6, 2010 VANCOUVER, BC – The Greater Vancouver housing market experienced steady activity to begin the summer season. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 2,972 in June 2010, a decline of 30.2 per cent compared to the 4,259 sales in June 2009, which was the second highest selling June on record. “Activity in June marked a healthy balance between the near record setting pace of June 200 ... Full Article...

Vancouver, BC – June 7, 2010. The British Columbia Real Estate Association (BCREA) released its Housing Forecast for the second quarter of 2010 today. BC Multiple Listing Service® (MLS®) residential sales are forecast to ease back 3 per cent from 85,028 units in 2009 to 82,350 units this year, before increasing 4 per cent to 85,900 units in 2011. “Eroding affordability will trim home sales by 3 per cent this year despite improving economic conditions and related employment growth,&r ... Full Article...

With global markets beginning to stabilize following the recent fears over a Greek debt default, economists say the pieces are falling into place for the Bank of Canada to move off its emergency 0.25 per cent rate on June 1. Economists — and markets — have already pencilled in a doubling of the policy rate in two weeks. But that is only a beginning say analysts who believe governor Mark Carney will keep on hiking rates through the rest of the year. Even the TD Bank, which only a few ... Full Article...

Tuesday, May 4, 2010 VANCOUVER, BC –The Greater Vancouver housing market experienced increased activity in April thanks to a steady balance of home buyers and sellers entering the marketplace. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,512 in April 2010, the fifth highest-selling April on record. The figure represents an increase of 18.5 per cent compared to the 2,963 sales in April 2009; 9.1 per cent more t ... Full Article...

Ottawa — Globe and Mail Update Published on Tuesday, Feb. 16, 2010 8:17AM EST Last updated on Tuesday, Feb. 16, 2010 12:44PM EST Finance Minister Jim Flaherty Tuesday announced tighter lending standards for mortgages, saying that while the housing market is healthy and there's no solid evidence of a bubble, the moves are needed to “help prevent negative trends from developing.” Under the new rules, all borrowers will need to meet standards for five-year fixed-rate mortgage ... Full Article...

NEW YEAR BEGINS WITH NEW CELLPHONE RULES - VICTORIA B.C. drivers have one more day before they must abide by a new law that brings in a full ban on hand-held cellphones and texting while driving.  On Jan. 1, 2010, police will begin enforcing changes to the Motor Vehicle Act that mean drivers can only use hands-free cellphones and devices that require just one touch to activate. Fines will begin on Feb. 1, when a driver talking on a hand-held phone or electronic device will be subject to a fin ... Full Article...

Bank of Canada maintains overnight rate target at 1/4 per cent and reiterates conditional commitment to hold current policy rate until the end of the second quarter of 2010 OTTAWA - The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is unchanged at 1/2 per cent and the deposit rate is 1/4 per cent. While significant fragilities remain, global economic developments have been slightly more positive and the global outlook ha ... Full Article...

Vancouver, BC – November 17, 2009. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 115 per cent to 8,624 units in October compared to the same month last year. Last month posted the highest number of MLS® residential sales for the month of October since 2003, when 8,682 units changed hands. The average MLS® residential sales price in the province climbed 17 per cent to $493,328 from $420,259 in Oc ... Full Article...

Wednesday, November 4, 2009 VANCOUVER – Strong demand has led to a steady rise in Greater Vancouver home prices compared to last year. Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 6.8 per cent to $553,702 from $518,668 in October 2008. "While home prices have been rising in 2009, they have not eclipsed the peaks reached in early 2008," Scott Russell, Real Estate Board of Greater Vancouver ( ... Full Article...

Vancouver, BC – October 15, 2009. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 68 per cent to 8,576 units in September compared to the same month last year. The average MLS® residential sales price in the province climbed 15 per cent to $474,169 from $412,149 in September 2008. "Upward momentum in consumer demand continued unabated in September,” said Cameron Muir, BCREA Chief Economist ... Full Article...

Enormous Bond Yield Increase The 5-year bond yield is soaring over 23 basis points as we speak! It’s the biggest jump in bond rates in over a year and it comes on top of strong gains over the previous few days. The yield is now near an 11-month high, and that means fixed mortgage rate increases are around the corner. If you’re home hunting and wondering if you should lock in a mortgage rate, don’t waste any more time. Protect yourself now with a rate hold or pre-approval. T ... Full Article...

Rising sales and limited listings have returned Canada to a “seller’s market,” with total B.C. home sales this year up nearly seven per cent compared to 2008, according to a Global Real Estate Trends report released Thursday by Scotia Economics. “In terms of trends, sales in B.C. have been picking up since January,” Adrienne Warren, senior economist at Scotia Economics, said in an interview. “And it’s been increasing steadily since. For prices the low ... Full Article...

Friday, October 2, 2009  Buyer demand remains strong while home listings increase Greater Vancouver home sales remained strong last month, with the second highest number of residential sales ever recorded for the month of September. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,559 in September 2009, an increase of 3.4 per cent from the 3,441 sales recorded in August 2009, and an increase of 124.5 per cent compared ... Full Article...