Canadian bond yields are soaring, but the central bank isn’t expected to raise rates. At least not yet, according to an analysis from BMO Capital Markets. Government of Canada (GoC) bond yields showed a multi-year high for annual growth in 2021. This means rising market expectations of the overnight rate climbing in the near-term. Despite soaring […]Read more "The Bank Of Canada Is Unlikely To Raise Rates & Real Estate Needed Higher Rates Last Year"
The British Columbia Real Estate Association (BCREA) reports that a record 124,854 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in 2021, a 32.8 per cent increase from the 94,001 units sold in 2020. The annual average MLS® residential price in BC was $927,877, an 18.7 per cent increase from $781,572 recorded the previous […]Read more "A Record Year for the BC Housing Market"
Over the weekend, homeowners learned how their property value had changed in the last year with the release of the latest assessment data. B.C. Assessment updated its website to reflect values calculated in July of last year, and many noted significant increases in value. Among those who saw a spike were the owners of B.C.’s […]Read more "Real estate Q&A: Expert highlights trends in latest B.C. property value assessments"
Madeleine Nicholls, Colliers VancouverDec 28, 2021 8:52 AM If you walk around downtown Vancouver it feels like things are back to normal. But inside many office towers, it’s different, with floor upon empty floor… Vancouver’s commercial real estate sector has seen record volumes and revenues in the past year, with vacancy rates continuing to fall […]Read more "CRE OUTLOOK 2022: A banner year coming, despite some bruises"
The latest data from BC Assessment shows significant increases in property values across the Lower Mainland. It’s another blow for young people hoping to buy, experts say. The numbers, which are based on market values as of July 1, 2021, were released Sunday, showing increases hovering around 20 per cent and higher across the region […]Read more "Latest data from BC Assessment paints a grim picture for young, hopeful buyers, experts say"
The trajectory for Metro Vancouver’s housing market continues to be upwards, with heightened demand expected to propel prices even further next year. According to Royal LePage’s new market forecast, by the fourth quarter of 2022, the median price of a single-family detached property in the region is expected to increase 12% year-over-year to $1.893 million. […]Read more "Vancouver house prices expected to soar 12% to $1.9 million in 2022"
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada’s Real Estate Bubble Has Buyers Paying 2x The Mortgage Of Existing Owners Canadian homebuyers are paying double the payments of existing homeowners. In 2021, the average homeowner’s mortgage payment climbed to $1,382 per month in the third quarter. The average homebuyer […]Read more "Everyone In Canada Wants To Be A Real Estate Agent, And Low Mortgage Rates Turn Toxic"
RBC Economics doesn’t see Canadian homes becoming cheaper anytime soon. To the contrary, a report by bank economist Robert Hogue anticipates that residential properties are going to get more expensive, at least in the near term. It’s all got to do with the lack of homes for sale. Hogue’s report is partially titled “Wanted: homes […]Read more "RBC Economics says lack of homes for sale to “keep prices under intense upward pressure in near term”"
For 27 years, the REALTORS Care® Blanket Drive has brought warmth to our communities. They can’t do this without your generous donations and the support of Realtor volunteers. The Blanket Drive runs each November.Now in its 27th year. At least 427,000 people in need have received donations from this Blanket Drive since 1995 By 2006 the […]Read more "27th Annual REALTORS Care® Blanket Drive"
The British Columbia Real Estate Association (BCREA) released its 2021 Fourth Quarter Housing Forecast today. Multiple Listing Service® (MLS®) residential sales in the province are forecast to rise rise 29 per cent to 121,450 units this year, after recording 94,013 sales in 2020. In 2022, MLS® residential sales are forecast to pull back 15 per cent to […]Read more "BCREA 2021 Fourth Quarter Housing Forecast: Strong Market Activity to Continue in 2022"