Home Sales Decline in 2022 After a Record 2021 Vancouver, BC – January 12, 2023. The British Columbia Real Estate Association (BCREA) reports that 80,874 residential unit sales were recorded by the Multiple Listing Service® (MLS® ) in 2022, a 35.2 per cent decline from a record 124,788 units sold in 2021. The annual…
BC Housing Market Showing Signs of Stabilizing Despite Decreased Activity Canadian housing starts fell by 7.7k (2.8 per cent) to 267.4k units in August at a seasonally-adjusted annual rate (SAAR). Comparing year-over-year, starts were up from August of 2021 (2.5 per cent). Single-detached housing starts rose 1 per cent to 73.4k, while multi-family and others…
Glossary of Real Estate Terms for Presale Condos in Canada Below you will find a comprehensive list of real estate terms for presale condos in British Columbia, Canada. We specialise in helping buyers of presale condos in British Columbia and have gathered these real estate terms from our experience. A-Kit In the context of BC…
Canadian Monthly Economic Growth (Q3’2022) Canadian real GDP rose 0.1 per cent in September, up for the eighth consecutive month. Goods-producing sectors rose 0.3 per cent while services-producing industries were essentially flat. Canadian real GDP is now roughly 2.8 per cent above its pre-pandemic, February 2020 level. Preliminary estimates suggest that output in the Canadian…
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High Mortgage Rates Keeping Potential Buyers Sidelined Vancouver, BC – July 12, 2022. The British Columbia Real Estate Association (BCREA) reports that a total of 7,136 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in June 2022, a decrease of 35.7 per cent from June 2021. The average MLS® residential price in BC was…
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