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]
December 12th, 2022
The federal government is introducing new tax changes that may impact homeowners and potential homebuyers beginning January 1, 2023. Here's what you need to know. [read more]
November 16th, 2022
Canadian prices, as measured by the Consumer Price Index (CPI), rose 6.9 per cent on a year-over-year basis in October, a rate of change equal to the prior month. After falling for the prior three months, a rise in gasoline prices in October kept the CPI steady year-over-year. [read more]
November 4th, 2022
Starting in January 2023, non-Canadians will be banned from buying homes across Canada, through the Prohibition on the Purchase of Residential Property by Non-Canadians Act. This Act prohibits non-citizens and non-permanent residents from purchasing residential property in Canada for two years. [read more]
October 26th, 2022
The Bank of Canada raised its overnight policy rate by 50 basis points, bringing it to 3.75 per cent, its highest level since 2008. In the statement accompanying the decision, the Bank noted that the Canadian economy continues to operate in excess demand and tight labour markets and as a result inflation remains elevated. [read more]
August 9th, 2022
On July 21, the provincial government introduced a home buyer protection period, the details of which are outlined in a new regulation that allows home buyers to back out of a residential purchase up to three business days after signing a contract. [read more]
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