August 2022

Canadian Inflation Slowed On Gas Price Decline, But Not Enough To Satisfy Anyone

Posted on Aug 20, 2022 in Economics

Vancouver real estate inflation fearsGasoline Prices Dipped, But No Time To Celebrate

While we are all grateful that gasoline prices declined from record highs in July, today's release of the July inflation data shows that the underlying inflation momentum remains too strong for comfort. Governor Macklem will likely continue to hike the policy rate aggressively when they next announce...

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Canadian Housing Starts - July 2022

Posted on Aug 18, 2022 in Economics

New Construction in CanadaCanadian housing starts rose by 2.9k (1.1 per cent) to 275.3k units in July at a seasonally-adjusted annual rate (SAAR). Comparing year-over-year, starts were up from July of 2021 (0.5 per cent). Single-detached housing starts rose 1.6 per cent to 72.6k, while multi-family and others rose 0.9 per cent to 202.7k (SAAR).

In British Columbia, starts f...

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Canadian Inflation - July 2022

Posted on Aug 18, 2022 in Economics

12 month change in consumer CPICanadian prices, as measured by the Consumer Price Index (CPI), rose 7.6 per cent on a year-over-year basis in July, down from 8.1 per cent last month. The deceleration was driven by declining gasoline prices, but price growth remains high among other components of the index. Excluding gasoline, the CPI rose 6.6 per cent year over year in July, up...

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BC Home Sales Continue to Slow in July

Posted on Aug 13, 2022 in Market Update

July home prices in Vancouver BCThe British Columbia Real Estate Association (BCREA) reports that a total of 5,572 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in July 2022, a decrease of 42.4 per cent from July 2021. The average MLS® residential price in BC was $923,449, a 3.6 per cent increase from $891,376 recorded in July 2021. Total sales doll...

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July 2022 - Vancouver Real Estate Statistics

Posted on Aug 03, 2022 in Market Update

Vancouver Real Estate Statistics - July 2022Home buyer demand continues to ease across Metro Vancouver

Metro Vancouver’s housing market has entered a new cycle marked by quieter home buyer demand and a gradual rise in the supply of homes for sale.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,887 in July 2022, a 43.3 per cent de...

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