May 17th, 2023
The truth is that real estate isn’t about property. It’s about people. Normal human beings who have braved the sometimes wonderful, oftentimes treacherous waters of this great, real estate adventure. Here are some of their stories. [read more]
March 21st, 2023
Wondering when the best time to sell is? "Home sellers on the fence waiting for that perfect moment to sell should start preparations, because the best time to list a home in 2023 is approaching quickly. The week of April 16-22 is expected to have the ideal balance of housing market conditions that favor home sellers, more so than any other week in the year." [read more]
March 13th, 2023
Provincial Housing Market Showing Signs of Recovery Heading into Spring...“While activity across provincial housing markets remains well below normal,” said BCREA Chief Economist Brendon Ogmundson. “There are encouraging signs that the market is balancing out. Home sales rose month-over-month in most markets, and prices appear to be firming up in the face of low supply.” [read more]
February 28th, 2023
Canadian real GDP declined 0.1 per cent in December, the first monthly decline since January of 2022. The decline in GDP was concentrated among goods-producing industries (-0.6 per cent) while services were flat. Canadian real GDP is now roughly 2.7 per cent above its pre-pandemic, February 2020 level. Preliminary estimates suggest that output in the Canadian economy rose 0.3 per cent in January. [read more]
February 6th, 2023
“A slowing economy and still elevated mortgage rates are expected to keep housing activity lower than normal through much of 2023,” said BCREA Chief Economist Brendon Ogmundson. “However, we expect a strong recovery, boosted by an expected decline in mortgage rates and record high immigration that will carry significant momentum into 2024.” [read more]
January 31st, 2023
Will Metro Vancouver housing prices increase in 2023? Home sales in 2023 will remain in line with last year while prices may see small increases, according to the Real Estate Board of Greater Vancouver’s first 2023 Residential Market Forecast. [read more]
January 23rd, 2023
Achieving an organized home tops the list of common New Year’s resolutions among homeowners and renters alike—but it’s also one of the hardest goals to accomplish and maintain in the long run. [read more]
December 13th, 2022
With the Home Buyer Rescission Period (HBRP) coming into effect on January 3, 2023, BCREA has created a video for REALTORS® to share with their clients to help them understand buyer’s rights during the HBRP. [read more]
December 13th, 2022
The British Columbia Real Estate Association (BCREA) reports that a total of 4,512 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in November 2022, a decrease of 50.8 per cent from November 2021 and about 30 per cent below a historical average November. The average MLS® residential price in BC was $906,785 an 8.6 per cent decrease from $992,245 recorded in November 2021. Total sales dollar volume was $4.1 billion, a 55 per cent decline from the same time last year. [read more]
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