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Posted on
June 14, 2010
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province declined 4 per cent to 7,950 units in May compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province declined 11 per cent in May from April 2010. The average MLS® residential price climbed 7 per cent to $498,294 in May compared to the same month last year.
"A slower pace of home sales combined with an increase in the inventory of homes for sale has quelled upward pressure on home prices," said Cameron Muir,...
Posted on
June 4, 2010
by
Hafez Panju
VANCOUVER, B.C. – June 4, 2010 – The number of properties listed for sale
in Greater Vancouver continued to rise in May, while the number of sales showed
a year-over-year decrease. The Real Estate Board of Greater
Vancouver (REBGV) reports that residential property sales in Greater Vancouver
totalled 3,156 in May 2010, a decline of 10.4 per cent compared to the 3,524
sales in May 2009; 5.1 per cent more than the 3,002 sales in May 2008; and 27.1
per cent less than the 4,331 sales in May 2007. May 2010 sales also represent
a 10.1 per cent decline compared to last month’s sales. In terms...
Posted on
June 2, 2010
by
Hafez Panju
The Canadian Real Estate Association (CREA) has lowered its forecast for home sales via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations. The revision reflects a weaker than expected start to the year in British Columbia, and recent developments that pulled forward the timing as to when sales are expected to ease in other provinces.
CREA’s previous national forecast was heavily influenced by British Columbia and Ontario forecast trends, and this remains the case in the revised forecast. While sales activity is unfolding as expected in Ontario, the...
Posted on
June 1, 2010
by
Hafez Panju
The Bank of Canada today announced that it is raising its target for the overnight rate by one quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly raised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal operating band of 50 basis points for the overnight rate.
The global economic recovery is proceeding but is increasingly uneven across countries, with strong momentum in emerging market economies, some consolidation of the recovery in the United States, Japan and other industrialized economies, and the possibility of...
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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.
