The trend in housing starts was 201,983 units in May 2019, compared to 205,717 units in April 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 decreased in May as a result of continuing decline in the trend for single starts as well as a decline in the trend of multi-unit starts that follows gains in this segment in recent months, in urban areas," said Bob Dugan, CMHC's chief economist. "The decrease in the trend of...

Fixed and variable loans have gotten cheaper because costs for lenders are down too

Spring is typically a busy time for home sales, so lenders are competing fiercely right now for new business — and that's adding up to record low rates for borrowers. (Ty Wright/Bloomberg)

House prices may be as high as ever in many parts of the country, but Canadian homebuyers are being offered some of the lowest mortgage rates seen in years as lenders battle to drum up new business.

Rates on a standard five-year fixed-rate mortgage have fallen to their lowest level in two years, according to...

The BCREA Commercial Leading Indicator (CLI) rose by 1.3 points to 135.2 in the first quarter of 2019. Compared to this time one year ago, the index is 1.1 per cent higher.

“While economic activity remained tepid at the start of 2019, a rebound in financial markets pushed the CLI higher,” says BCREA Deputy Chief Economist Brendon Ogmundson. “That signals a lower risk environment, but a slowing economy may impact future commercial real estate activity.”

Following several years of robust growth, the BC economy continues to slow in the early part of 2019. The economic activity...

Monthly *Metro Vancouver1 home sales eclipsed 2,000 for the first time this year in May, although home buyer demand remains below historical averages. 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,638 in May 2019, a 6.9 per cent decrease from the 2,833 sales recorded in May 2018, and a 44.2 per cent increase from the 1,829 homes sold in April 2019. 

Last month’s sales were 22.9 per cent below the 10-year May sales average and was the lowest total for the month since 2000. 

“High home prices and mortgage q...

Burnaby council advances SFU gondola despite concerns.

Councillors want Forest Grove residents consulted before TransLink approves route.

Burnaby city council has given TransLink the go-ahead to keep planning for a gondola to Simon Fraser University’s Burnaby Mountain campus. The city’s mayor and councillors voted unaminously Monday to support, in principle, TransLink’s plan to link the school with a SkyTrain station. 

TransLink carries 25,000 people to SFU’s Burnaby Mountain campus every day, making it the biggest transit destination in the city without a SkyTrain...

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It's difficult to tell what part of the $89 billion in real estate market equity losses in Metro Vancouver are due to government policies rather than changing market forces.

The downturn in the Metro Vancouver real estate market has resulted in an estimated paper loss of $89.2 billion for property owners in the past year, according to a new analysis.

The study used assessed values reported in January to estimate the total value of residential properties after the decline in median home prices for all housing types in Metro Vancouver between April 2018 and April 2019.

From this, it estimated the...

Statistics released today by the Canadian Real Estate Association (CREA) show national home sales climbed in April 2019.

Highlights:

• National home sales improved by 3.6% month-over-month (m-o-m) in April.
• Actual (not seasonally adjusted) activity was up 4.2% year-over-year (y-o-y).
• The number of newly listed homes climbed 2.7% m-o-m.
• The MLS® Home Price Index (HPI) eased by 0.3% y-o-y in April.
• The national average sale price edged up 0.3% y-o-y.

Home sales recorded via Canadian MLS® Systems rose by 3.6% m-o-m in April 2019. After having dropped in February to the lowest level...

The British Columbia Real Estate Association (BCREA) reports that a total of 6,652 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in April, a decline of 18.9 per cent from the same month last year. The average MLS® residential price in the province was $685,304, a decline of 6.2 per cent from April 2018. Total sales dollar volume was $4.6 billion, a 23.9 per cent decline from the same month last year.

“BC home sales were essentially unchanged from March on a seasonally adjusted basis,” said BCREA Chief Economist Cameron Muir. “Prospective...

An independent report has found that $5 billion was laundered through British Columbia's real estate market last year and increased the cost of buying a home by five per cent.

The report by former B.C. deputy attorney general Maureen Maloney estimated that $7.4 billion overall was laundered in B.C. in 2018, a figure she says is conservative and added the total amount across Canada was about $47 billion.

Attorney General David Eby told a news conference on Thursday that money laundering is a ``malignant cancer'' on society and a ``national-level crisis.''

The provincial government commissioned two...

The BC government released reports today on the findings of two examinations into potential money laundering activities in the real estate market.

Real Estate of Board of Greater Vancouver President Ashley Smith issued the following statement on the findings of these investigations.

Our position on the money laundering concerns raised in recent years has remained consistent. The real estate profession is here to do everything we can to assist law enforcement in combating money laundering, or any other criminal activity, in our communities. Where there’s evidence of an individual violating...

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Decreased demand continues to allow the supply of homes for sale to accumulate across the Metro Vancouver* housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,829 in April 2019, a 29.1 per cent decrease from the 2,579 sales recorded in April 2018, and a 5.9 per cent increase from the 1,727 homes sold in March 2019.

Last month’s sales were 43.1 per cent below the 10-year April sales average.

“Government policy continues to hinder home sale activity. The federal government’s mortgage stress test has reduced...

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The Bank of Canada is keeping its key interest rate unchanged as it releases a downgraded 2019 growth forecast that includes a prediction the economy nearly came to a halt at the start of the year.

The central bank also appears to be in no hurry to move the interest rate any time soon because, unlike recent statements, the announcement today removed all mentions of a need for future increases.

The decision leaves the trend-setting rate at 1.75% for a fourth-straight announcement -- a pause that followed governor Stephen Poloz's stretch of five hikes between mid-2017 and last fall.

The bank says...

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Looking for a home with more space? Your search is over! Welcome to this exceptionally large 1 bed & den (easily 2 bed), 1 bath, 829sqft home. Located in Altaire, a concrete building at UniverCity; Vancouver's premier lifestyle neighborhood. Features: spacious open layout, dining & living rooms to accommodate full size furniture, a kitchen with plenty of counter & cupboard space, SS apps, cozy F/P, extra storage plus a 243sqft fully covered patio. The well sized master...

Statistics released today by the Canadian Real Estate Association (CREA) show national home sales edged higher in March 2019 after having declined sharply the previous month.

Highlights:

• National home sales edged up 0.9% month-over-month (m-o-m) in March.
• Actual (not seasonally adjusted) activity was down 4.6% year-over-year (y-o-y).
• The number of newly listed homes rose 2.1% m-o-m.
• The MLS® Home Price Index (HPI) eased by 0.5% y-o-y in March.
• The national average sale price fell 1.8% y-o-y.

Home sales via Canadian MLS® Systems edged up 0.9% in March 2019 following a sharp drop...