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...
Posted on
May 27, 2010
by
Hafez Panju
The Canadian Real Estate Association (CREA) released a new report today indicating that home prices will stabilize, and will remain stable for some time. This means that Canadian homeowners are unlikely to experience a U.S.-style decline in the value of their homes.
“The relationship between average price and income has recently been cited as portending a U.S.-style correction in Canadian home prices,” said Gregory Klump, Chief Economist, CREA. “However, such warnings ignore the longer-term relationship between prices and income, and disregard typical Canadian housing market cycle dynamics.”...
Posted on
May 18, 2010
by
Hafez Panju
(OTTAWA – May 17, 2010) Home sales activity in Canada came up short of the record for the month of April and new listings continued to climb, according to statistics released by The Canadian Real Estate Association (CREA).
Residential sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards numbered 52,042 units in April 2010. This is less than one per cent short of the record for national sales activity during the month of April, which was set in 2007. Compared to April 2009, national activity was up 20 per cent.
Seasonally adjusted national home...
Posted on
May 14, 2010
by
Hafez Panju
Origin by Porte Development at UniverCity is the latest announced development atop Burnaby Mountain. This will surely be an exciting launch and one to watch for as it will be the first development of its kind in North America. Origin is also the first project in SFU Community Trust’s planned third phase of development.
First the “green” initiates. As part of SFU’s commitment to sustainable development, Origin will be built to meet the new mandatory zoning bylaws created in association with the building community and the City of Burnaby. These new zoning regulations...
Posted on
May 14, 2010
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 21 per cent to 8,385 units in April compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province declined 4 per cent from March 2010. The average MLS® residential price climbed 15 per cent to $514,820 in April compared to the same month last year.
“BC home sales have trended on an annual rate of 84,000 to 86,000 units over the past three months, down from the 108,000 unit pace recorded in the fourth quarter...
Posted on
May 4, 2010
by
Hafez Panju
The Greater Vancouver housing market experienced increased activity in April thanks to a steady balance of home buyers and sellers entering the marketplace.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,512 in April 2010, the .fth highest-selling April on record. The .gure represents an increase of 18.5 per cent compared to the 2,963 sales in April 2009; 9.1 per cent more than April 2008’s 3,218 sales; and 3.7 per cent more than April 2007’s 3,387 sales. April 2010 sales also represent a 12 per cent increase compared...
Posted on
April 27, 2010
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) is in Victoria this week to highlight to the Government of British Columbia that, with the highest home ownership costs in the country, BC is at a competitive disadvantage to attract skilled labour and professionals to the province.
“The availability of affordable housing not only dramatically impacts one’s quality of life, it also significantly impacts the ability of the province to attract the labour and talent we need to ensure future economic growth,” says BCREA President, John Tillie. “BCREA is committed to working with the provincial...
Posted on
April 20, 2010
by
Hafez Panju
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is unchanged at 1/2 per cent and the deposit rate is 1/4 per cent.
Global economic growth has been somewhat stronger than projected, with momentum in emerging-market economies increasing noticeably. Exceptional stimulus from monetary and fiscal policies continues to provide important support in many countries. The recovery in the major advanced economies is still expected to be relatively subdued, reflecting ongoing balance sheet adjustments and the gradual withdrawal of fiscal...
Posted on
April 15, 2010
by
Hafez Panju
Homebuyers have more choice heading into the busy spring buying season, with new supply in Canada's resale housing market setting a record for the month of March. While resale housing demand remains strong, rising numbers of new listings are resulting in a more balanced national resale housing market.
According to statistics released by The Canadian Real Estate Association (CREA), some 97,663 residential properties were listed for sale on the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards in March 2010. This is an increase of 20 per cent from the previous March record set...
Posted on
April 13, 2010
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 63 per cent to 5,955 units in February compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province declined 13 per cent compared to January 2010.
"Home sales continued to moderate in February after the record pace of the fourth quarter." said Cameron Muir, BCREA Chief Economist. "However, February’s performance was better than expected considering many households were preoccupied with Olympic gold."
The...
Posted on
April 6, 2010
by
Hafez Panju
A steady influx of new listings has helped create a balanced typical spring housing market in the Greater Vancouver region.
The Real Estate Board of Greater Vancouver (REBGV) reports that new listings for detached, attached and apartment properties in Greater Vancouver totalled 7,004 in March 2010. This represents a 60 per cent increase compared to March 2009 when 4,385 new units were listed, and a 52.1 per cent increase compared to February 2010 when 4,606 properties were listed on the Multiple Listing Service (MLS).
At 13,538, the total number of property listings on the Multiple Listing Service...
Posted on
March 16, 2010
by
Hafez Panju
With rising activity in Toronto offset by lower activity in Vancouver, the number of homes sold through the Multiple Listing Service¨ (MLS¨) Systems of Canadian real estate Boards edged lower in February. In recent months, national sales activity has slowed while new listings continue to rise, resulting in a more balanced national resale housing market.
According to statistics released by The Canadian Real Estate Association (CREA), seasonally adjusted national home sales totalled 42,799 units in February 2010, edging down 1.5 per cent from January. Activity declined mostly in Vancouver, but this...
Posted on
March 8, 2010
by
Hafez Panju
The seasonally adjusted annual rate1 of housing starts reached 196,700 units in February 2010. This is an increase from an annual rate of 185,400 units in January 2010, according to Canada Mortgage and Housing Corporation (CMHC).
The gain in February housing starts was concentrated in the multiple starts segment, particularly in Toronto, said Bob Dugan, Chief Economist at CMHC's Market Analysis Centre.
The seasonally adjusted annual rate of urban starts increased by 9.0 per cent to 179,100 units in February. Urban multiple starts increased by 19.1 per cent to 89,900 units while single urban starts...
Posted on
March 2, 2010
by
Hafez Panju
The Greater Vancouver housing market continued to experience strong demand from homebuyers and an increase in total property listings in a month where the eyes of the world were focused on the region.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totaled 2,473 in February 2010, an increase of 67.1 per cent compared to February 2009 when 1,480 sales were recorded and a 28.6 per cent increase compared to the 1,923 sales recorded in January 2010.
More broadly, last month's sales totals marked a 7.6 per cent decline compared to the 2,676...
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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.
