According to the spring Rental Market Survey released today by Canada Mortgage and Housing Corporation (CMHC), the average vacancy rate for primary purpose-built apartments in Canada’s 35 major centres was 2.9 per cent in April 2015, compared to 2.7 per cent in April 2014. This difference is not statistically significant, indicating stability in the overall vacancy rate.

“The stability of the national vacancy rate is due to offsetting regional trends that reflect the negative impact of lower oil prices on rental demand leading to higher vacancy rates...

Highlights:

• National home sales rose 3.1% from April to May.
• Actual (not seasonally adjusted) activity stood 2.7% above May 2014 levels.
• The number of newly listed homes was little changed from April to May.
• The Canadian housing market remains balanced overall.
• The MLS® Home Price Index (HPI) rose 5.17% year-over-year in May.
• The national average sale price rose 8.1% on a year-over-year basis in May; excluding Greater Vancouver and Greater Toronto, it increased by 2.4%.

The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations rose 3.1...

The British Columbia Real Estate Association (BCREA) reports that a total of 10,174 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in May, up 16.6 per cent from the same month last year. Total sales dollar volume was $6.4 billion, a 30.4 per cent increase in comparison to the previous year. The average MLS® residential price in the province rose to $632,182, an 11.8 per cent increase since last May.

“Home sales for the month were at an eight year high for the month of May,” said Cameron Muir, BCREA Chief Economist....

The overall risk to financial stability in Canada has risen in the face of lower oil prices, but the resilience of the system continues to improve, the Bank of Canada said today as it released its biannual Financial System Review (FSR).

The FSR is intended to raise awareness of the key vulnerabilities, possible triggers and risks to the financial system. The Bank’s assessment is that there is a low probability that the risks identified in the FSR will materialize. Policies and regulations are in place to promote the strength and soundness of the Canadian financial system.

Elevated household...

The trend measure of housing starts in Canada was 181,231 units in May compared to 179,524 in April, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

“The small increase in the trend was primarily driven by higher multiple starts in Ontario, the Atlantic region, and Québec. Despite month-to-month variation in multiple starts, CMHC expects builders will continue to focus on managing inventory of completed but unsold units — inventory that is still above...

It continues to be a competitive spring market for Metro Vancouver home buyers. This competition continues to put upward pressure on home prices, particularly in the detached home market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 4,056 on the Multiple Listing Service® (MLS®) in May 2015. This represents a 23.4 per cent increase compared to the 3,286 sales recorded in May 2014, and a decrease of 2.9 per cent compared to the 4,179 sales in April 2015.

Last month’s sales were 16.7 per...

The British Columbia Real Estate Association (BCREA) released its 2015 Second Quarter Housing Forecast today.

“More robust economic growth, strong consumer confidence and rock-bottom mortgage interest rates are expected to push housing demand this year to its highest level since 2007,” said Cameron Muir, BCREA Chief Economist.

Multiple Listing Service® (MLS®) residential sales in British Columbia are forecast to rise 12.1 per cent to 94,300 units this year, before edging back 2.9 per cent to 91,600 units in 2015. The ten-year average is...

Canada Mortgage and Housing Corporation (CMHC) released today its first quarter financial report as well as complementary Mortgage Loan Insurance and Securitization Business Supplements.

CMHC provides mortgage loan insurance and securitization guarantee programs to facilitate access to mortgage financing and to contribute to the stability of the financial system. Consistent with our mandate, CMHC is present in all markets and through all economic cycles. During the first quarter, CMHC provided mortgage loan insurance for over 50,000 units across the country....

The Bank of Canada announced on May 27^th, 2015 that it was keeping its trend-setting overnight lending rate at 0.75 per cent.

Economic growth in the first quarter was weaker than the Bank expected, but it “expects a return to solid growth in the second quarter.” It still believes that exports and business investment will pick up and that the Canadian economy will grow by just under 2 per cent this year.

The Bank thinks the economic fallout from low oil prices will be neatly limited to the first quarter. If it proves to be longer lasting, the Bank may downgrade its economic outlook again...

Canada Mortgage and Housing Corporation (CMHC) released today its Mortgage Consumer Survey. The annual survey, the largest and most comprehensive of its kind, provides insights into the behaviours, attitudes and expectations of Canadians when acquiring, renewing or refinancing a mortgage.

“CMHC’s mortgage consumer survey provides valuable information around the habits of active Canadian mortgage consumers” said Nathalie Fredette, Vice-President, Client Relationship Management. “These insights allow mortgage professionals to better ...

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 3/4 per cent. The Bank Rate is correspondingly 1 per cent and the deposit rate is 1/2 per cent.

Inflation in Canada continues to track the path outlined in the Bank’s April Monetary Policy Report (MPR). Total CPI inflation is near the bottom of the Bank's 1 to 3 per cent inflation control range, largely due to the transitory effects of sharply lower energy prices. Core inflation remains above 2 per cent, boosted by the pass-through effects of past depreciation of the Canadian dollar, as well as certain...

According to CMHC’s second quarter 2015 Housing Market Outlook, Canada Edition¹, housing markets will remain stable with housing starts moderating slightly in 2015 and 2016. There are, however, a number of risks and vulnerabilities that can affect the market outlook for Canada and each province. To account for these risks and vulnerabilities, CMHC produces forecast ranges for resale and new home markets.

“Lower oil prices are contributing to disparities between provincial housing markets. A slowdown in housing starts and resale transactions in oil-producing provinces such as Alberta...

Canada Mortgage and Housing Corporation (CMHC) released the results of its 2014 Condominium Owners Survey (COS) for Toronto and Vancouver today.

The COS is part of CMHC’s program of work on better understanding the role and prevalence of investors in Canadian housing markets.

The report includes survey insights on what motivates condo purchases, how long owners hold on to their units, and the borrower profile of condominium owners whose primary dwelling is a freehold or condominium unit but who also own at least one secondary unit that is a condominium.

For reporting purposes, such households...

Highlights:

• National home sales rose 2.3% from March to April.
• Actual (not seasonally adjusted) activity stood 10% above April 2014 levels.
• The number of newly listed homes was little changed from March to April.
• The Canadian housing market overall remains balanced.
• The MLS® Home Price Index (HPI) rose 4.97% year-over-year in April.
• The national average sale price rose 9.5% on a year-over-year basis in April; excluding Greater Vancouver and Greater Toronto, it increased by 3.4 %.

The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations rose...

The British Columbia Real Estate Association (BCREA) reports that a total of 9,952 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in April, up 28.7 per cent from the same month last year. Total sales dollar volume was $6.3 billion, a 45.5 per cent increase in comparison to the previous year. The average MLS® residential price in the province rose to $634,744, a 13 per cent increase since last April.

“Last month was the strongest April for home sales in a decade,” said Cameron Muir, BCREA Chief Economist....

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Take-in the beautiful green space, mountain top & City light views from this 2bed/2bath, 842sqft home. Located in Aurora, a concrete building in UniverCity; Vancouver’s premier lifestyle neighborhood. Features: open layout, quality finishing, stainless apps, granite counters, laminate floors & plenty of cupboard/counter & closet space. The spacious master has 3pc ensuite, walk-in & a view. The 2nd bed is well sized. Enjoy BBQs on the fully covered balcony....

101 9009 Cornerstone Mews

Burnaby, BC

The Hub

Concrete Townhome

2 bed & den, 2 bath, 1094sqft

Unique and rarely available concrete town home conveniently located in the heart of UniverCity! Steps to shopping, transit, SFU campus & all this area has to offer. This south facing 2level/2bed & den/2bath home offers an abundance of light. Enter through the bottom level which has a den, plenty of storage & laundry. The spacious main level features: laminate floors, euro-inspired kitchen, large windows, plenty of cupboard & counter space, well sized master bed w/4 pc ensuite, 2bed ...

Strong home buyer demand coupled with below average home listing activity has created seller's market conditions within the Metro Vancouver* housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 4,179 on the Multiple Listing Service® (MLS®) in April 2015. This represents a 37 per cent increase compared to the 3,050 sales recorded in April 2014, and a 2.9 per cent increase compared to the 4,060 sales in March 2015.

Last month’s sales were 29.3 per cent above the 10-year sales average...

Canada Mortgage and Housing Corporation (CMHC) released updated results today from its House Price Analysis and Assessment (HPAA) framework, which is designed to detect the presence of problematic conditions in Canadian housing markets.

“Modest overvaluation based on national indicators reflects a variety of price conditions across the country with some centres showing more signs of overvaluation than others. Likewise, housing market risk factors such as overheating, acceleration in house prices and overbuilding also vary by CMA” said Bob Dugan, CMHC’s Chief...

Vancouver, BC – April 16, 2015. The British Columbia Real Estate Association (BCREA) reports that a total of 9,101 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in March, up 37.6 per cent from the same month last year. Total sales dollar volume was $5.8 billion, an increase of 57.1 per cent compared to a year ago. The average MLS® residential price in the province rose to $641,799, up 14.1 per cent from the same month last year.

"BC home sales climbed significantly in March," said Cameron Muir, BCREA Chief Economist. "More homes traded hands last...