January 2022

Bank of Canada Interest Rate Announcement - January 26, 2022

Posted on Jan 26, 2022 in Economics

While the majority of expert opinion had swung toward the Bank of Canada raising its overnight rate this morning, the Bank instead maintained its overnight rate at 0.25 per cent. However, in the statement accompanying the decision the Bank noted that slack in the economy has been absorbed and it is ending what it calls its
"exceptional forward guida...

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Commercial Real Estate Market Update Q3 2021

Posted on Jan 26, 2022 in Market Update

Lower Mainland’s commercial real estate market continued its recovery in the third quarter of 2021. The increased activity seen in the Lower Mainland’s commercial real estate market in the first half of 2021 carried into the third quarter (Q3) of the year across all categories.

There were 640 commercial real estate sales in the Lower Mainland in Q3...

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Canadian Inflation (December 2021) 

Posted on Jan 20, 2022 in Economics

Canadian prices, as measured by the Consumer Price Index (CPI), rose 4.8% on a year-over-year basis in December, up from 4.7% in November. On a month-over-month basis, the CPI declined 0.1% in December, the first monthly decline since December 2020. The Bank of Canada's preferred measures of core inflation (which use techniques to strip out volatil...

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Canadian Housing Starts (December 2021)

Posted on Jan 18, 2022 in Economics

Canadian housing starts fell to 236.1k units in December at a seasonally-adjusted annual rate (SAAR). This brings the total number of housing starts in 2021 to 271.2k, 16% above the previous record in 2004. Housing starts were down by 67.7k (22.3% m/m) in December (SAAR). Comparing year-over-year, starts were up slightly from December of 2020 (1.3...

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Vancouver Real Estate Statistics - December 2022

Posted on Jan 05, 2022 in Market Update

Metro Vancouver home sales reached an all-time high in 2021 as housing needs remained a top priority for residents in the second year of the COVID-19 pandemic.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 43,999 in 2021, a 42.2 per cent increase from the 30,944 sales recorded in 2020...

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