Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were unchanged from September to October 2019.

Highlights:

• National home sales held steady on a month-over-month (m-o-m) basis in October.
• Actual (not seasonally adjusted) activity was up 12.9% year-over-year (y-o-y).
• The number of newly listed properties declined by 1.8% m-o-m.
• The MLS® Home Price Index (HPI) advanced by 0.6% m-o-m and 1.8% y-o-y.
• The actual (not seasonally adjusted) national average sale price climbed 5.8% y-o-y.

Home sales recorded via Canadian MLS® Systems remained...

BCREA 2019 Fourth Quarter Housing Forecast

After a slow start to 2019, MLS® home sales in BC have embarked on a sustained upward trend since the spring. Slower BC economic growth and headwinds emanating from the South, along with the dampening effects of federal mortgage rules and provincial tax policy, mean that home sales are simply returning to trend after sustaining a significant shock, rather than returning to the heights of recent years.

Despite the significant improvement in market activity, sluggishness out of the gate will likely mean that provincial MLS® sales decline for a third...

Another sincere thank you to all of my clients that have placed their trust in me to assist them with their real estate needs. I am Proud to be part of the Royal LePage West Real Estate Services team and congrats to my fellow realtors.

The Metro Vancouver* housing market is experiencing a fall pickup in home sale activity.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,858 in October 2019, a 45.4 per cent increase from the 1,966 sales recorded in October 2018, and a 22.5 per cent increase from the 2,333 homes sold in September 2019.

Last month’s sales were 9.8 per cent above the 10-year October sales average.

“Home buyers have more confidence today than we saw in the first half of the year,” says Ashley Smith, REBGV president. “With prices...

Rebound in market sales activity likely to spark return to price growth, which could be “modest” or significant.

Home sales activity and average sale prices in Metro Vancouver are likely to increase over the next two years, according to a new forecast by Canada Mortgage and Housing Corp. (CMHC) Resale activity on the region’s MLS, which has seen significant year-over-year growth over the past few months, is predicted to continue that streak in 2020 and 2021. This increase in sales and demand for product will push up prices.

Although the housing agency described the expected...

The British Columbia Real Estate Association (BCREA) reports that a total of 6,938 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in September, an increase of 24 per cent from the same month last year. The average MLS® residential price in the province was $697,943, an increase of 2.1 per cent from September 2018. Total sales dollar volume was $4.84 billion, a 26.5 per cent increase from the same month last year. “Markets across BC built on momentum from the summer,” said BCREA Chief Economist Brendon Ogmundson. “While the year-over-year...

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Home buyer demand has returned to more historically typical levels in Metro Vancouver* over the last three months. 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,333 in September 2019, a 46.3 per cent increase from the 1,595 sales recorded in September 2018, and a 4.6 per cent increase from the 2,231 homes sold in August 2019. 

Last month’s sales were 1.7 per cent below the 10-year September sales average. 

“We’re seeing more balanced housing market conditions over the last three months compared to what...

After two semesters living in residence at Simon Fraser University (SFU), 21-year-old Emily McMann told her parents she wanted more privacy.

“Emily is quite independent; she found living in residence very restrictive,” says her mother, Linda McMann. “She told us that her friend’s parents bought a condo in UniverCity at SFU, so my husband Michael and I decided to look into it.”

In the end, they purchased a 600-sq.-ft., one-bedroom condo in the heart of UniverCity for $405,000.

“Emily has at least two more years and if she decides to do her masters, a few more years,...

Canadian mortgage rates are still falling, but will then level off for at least a year, predicts association.

Five-year discounted mortgage interest rates are still falling and will drop to an average of 2.77 per cent by the end of the year, then hold firm for a full year, according to the B.C. Real Estate Association’s latest forecast.

The average fixed five-year rate in 2019’s third quarter is expected to be 2.86 per cent, which is down from an average of 3.16 per cent in Q2. This is just an average, as some five-year fixed rates are currently available as low as 2.25 per cent....

Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were up in August 2019.

Highlights:

• National home sales rose 1.4% month-over-month (m-o-m) in August.
• Actual (not seasonally adjusted) activity was up 5% year-over-year (y-o-y).
• The number of newly listed homes climbed 1.1% m-o-m.
• The MLS® Home Price Index (HPI) advanced by 0.8% m-o-m and 0.9% y-o-y.
• The actual (not seasonally adjusted) national average sale price was up 3.9% y-o-y.

Home sales recorded via Canadian MLS® Systems advanced for the sixth consecutive month in August. Transactions...

A sincere thank you to all my clients that have placed their trust in me to assist them with their real estate needs. I am Proud to be part of the Royal LePage West Real Estate Services team and congrats to my fellow realtors. 

Total home transactions across province expected to rise 11 per cent versus 2019, with average sale prices also predicted to increase in every area

Although every region in B.C. is expected to see lower home sales in 2019 than in 2018, sales will more than recover in 2020, according to a September 5 forecast by the British Columbia Real Estate Association (BCREA). 

Overall in 2019, residential transactions across the province are predicted to be five per cent lower, at about 75,000 units, than the 78,505 sales of 2018. Every one of B.C.’s 12 boards is expected to report a year-over-year...

Home buyer activity increased to more typical levels in Metro Vancouver* throughout the summer months.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,231 in August 2019, a 15.7 per cent increase from the 1,929 sales recorded in August 2018, and a 12.7 per cent decrease from the 2,557 homes sold in July 2019.

Last month’s sales were 9.2 per cent below the 10-year August sales average.

“Home sales returned to more historically normal levels in July and August compared to what we saw in the first six months of the year,”...

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A sincere thank you to all my clients that have placed their trust in me to assist them with their real estate needs. I am Proud to be part of the Royal LePage West Real Estate Services team and congrats to my fellow realtors. 

The British Columbia Real Estate Association (BCREA) reports that a total of 7,930 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in July, an increase of 12.4 per cent from the same month last year. The average MLS® residential price in the province was $684,497, a decline of 1.6 per cent from July 2018. Total sales dollar volume was $5.43 billion, a 10.5 per cent increase from the same month last year. “BC home sales climbed higher for the first time in 18 months on a year-over-year basis in July,” said BCREA Chief Economist Cameron Muir. Housing...

The trend in housing starts was 208,970 units in July 2019, compared to 205,765 units in June 2019, according to Canada Mortgage and Housing Corporation (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

“The national trend in housing starts increased in July, despite a decrease in the level of SAAR activity from June," said Bob Dugan, CMHC's chief economist. “High levels of activity in apartment and row starts in urban centres in recent months continued to be reflected in the high level of the...