July 2020

COVID-19 Reopening Dashboard & Update

Posted on Jul 29, 2020 in Economics

BCREA Covid 19 UpdateThe BCREA Economics team has created the COVID-19 Reopening Dashboard to help REALTORS® monitor the evolution of the BC economy as the province gradually reopens. This dashboard focuses on the sectors and activities that have been most significantly impacted by the pandemic and the province's subsequent state of emergency.

To monitor the province's...

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Canadian Inflation (June 2020)

Posted on Jul 22, 2020 in Economics

BC Canadian Inflation - June 2020Canadian inflation, as measured by the Consumer Price Index (CPI) rose by 0.7% in June year-over-year, up from a 0.4% decline in May. June saw the fastest rise in the CPI since March 2011. Prices rose in five of eight components year-over-year, with food and shelter prices driving the increase. Rents rebounded in June, rising 0.6% from the previous...

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Sold Data & Prices - Vancouver Real Estate Listings

Posted on Jul 21, 2020 in Also in the news

I'm really excited to launch this brand new feature on our Vancouver real estate website that enables us to display sold prices on all different types of properties for Vancouver and the Fraser Valley going back up to 2 years.

You can search for properties around you that have recently sold, and if you really wanted to check what your friends place...

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Canadian Retail Sales (May 2020)

Posted on Jul 21, 2020 in Economics

May 2020 - Canadian Retail SalesA good news report. The easing of pandemic restrictions across the country led to an 18.7% surge in seasonally-adjusted Canadian retail sales in May to $42 billion. Leading the growth was motor vehicle and parts dealers, followed by an increase in sales in almost all other subsectors. Although sales increased in May, retail sales remain 20% below p...

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BC Government Responds to Rising Insurance Costs for Strata Owners

Posted on Jul 20, 2020 in Market Update

BC Government Responds to Rising Insurance Costs for Strata OwnersOn June 23, 2020, the BC government tabled Bill 14 - Municipal Affairs and Housing Statutes Amendment Act (No. 2), 2020 (“Bill 14”), which aims to help strata owners mitigate costs associated with purchasing strata insurance. Bill 14 proposes amendments to the Strata Property Act, SBC 1998, c 43 and the Financial Institutions Act, RSBC 1996, c 141...

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Bank of Canada Interest Rate Announcement

Posted on Jul 15, 2020 in Mortgage News

Bank of Canada Interest Rates - July 2020The Bank of Canada held its overnight rate at 0.25 per cent this morning, a level it considers its effective lower bound. In addition, the Bank is continuing its quantitative easing program, committing to large-scale asset purchases of at least $5 billion per week of Government of Canada bonds along with continued purchases of provincial and corpor...

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