Market Updates

May 8, 2022

Do Staged Homes Sell Faster?

Do staged homes sell faster, and for a higher price? The short answer is yes and yes. Even in a hot seller’s market, smart sellers seek out ways to give themselves an advantage. This includes engaging an experienced, professional real estate agent, evaluating market demand and comparables, setting the right ...

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May 7, 2022

Richmond Real Estate Market Update April 2022

Home sales have eased down from the record-breaking pace of the last year. While still a small sample size, the return a to more normal traditional pace of home sales experienced so far this spring provides hopeful homebuyers or time to make decisions.

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May 5, 2022

New Rules For Real Estate Taxation

The proposed federal budget for 2022 has introduced a number of new rules relating to real estate, including new rules to dampen speculation in the Canadian real estate market (for a full list of the housing affordability measures announced,(click here). 

Investors should be generally aware of these changes ...

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May 4, 2022

Metro Vancouver home sales return to more traditional levels in April

Home buyer demand in Metro Vancouver* returned to more historically typical levels in April.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,232 in April 2022, a 34.1 per cent decrease from the 4,908 sales recorded in April ...

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May 2, 2022

COVID-19 Recovery Dashboard

The BCREA Economics team has created the COVID-19 Recovery Dashboard to help REALTORS® monitor BC’s economic recovery. This dashboard focuses on the sectors and activities that have been most significantly impacted by the pandemic and the province’s state of emergency.

To monitor the province’s progress, we benchmark each indicator to ...

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April 28, 2022

‘Intense’ price drops coming to Vancouver housing market next year: RBC

Homes prices to drop in B.C. more than any other province amid rate hikes, according to bank

Homes prices to drop in B.C. more than any other province amid rate hikes, according to bank

Metro Vancouver’s housing market may have met its match.

The Bank of Canada has ...

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April 28, 2022

Reality Check: Interest Rates Are Rising, Securing A Mortgage Now is Best for Buyers

Last week, the Bank of Canada announced an increase in interest rates by 50 basis points. This is the second increase of the year but not expected to be the last. As interest rates rise, so does the stress test qualifying rate which is two percentage points higher than the ...

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April 24, 2022

Strong First Quarter for BC Housing Markets, But Rising Rates Loom Large

The British Columbia Real Estate Association (BCREA) reports that a total of 11,463 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in March 2022, a decrease of 24.1 per cent from a record March 2021. The average MLS® residential price in BC was $1.096 ...

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April 23, 2022

Bank of Canada hikes benchmark interest rate to 1%

Biggest one-time increase in central bank's rate since 2000

Tiff Macklem, governor of the Bank of Canada, said that higher interest rates are going to be necessary to bring down high inflation

The Bank of Canada hiked its benchmark interest rate by half a percentage point to one per ...

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April 19, 2022

The Federal Government Doubles Down on Housing Affordability

In the April 7th release of the 2022 Federal Budget, Ottawa highlighted housing affordability on page one as the primary focus of the new spending plan. With housing prices across the country increasing by 62% between Jan 2020 to Feb 2022 Canadians are calling on all levels of government to ...

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