November 2022

Bank of Canada Will Not Be Happy With This Inflation Report

Posted on Nov 17, 2022 in Economics

Bank of Canada Will Not Be Happy With This Inflation ReportNot only did the headline CPI inflation rate stall at 6.9% last month, but the core CPI numbers remain stubbornly high. Food inflation--a highly visible component--edged down slightly. Still, prices for food purchased from stores (+11.0%) continued to increase faster year over year than the all-items CPI for the eleventh consecutive month. Bonds fe...

Read More

BC Home Sales Remain Slow While Active Listings Plateau

Posted on Nov 14, 2022 in Economics

BC Home Sales Remain Slow While Active Listings PlateauThe British Columbia Real Estate Association (BCREA) reports that a total of 5,242 residential unit sales were recorded by the Multiple Listing Service® (MLS® ) in October 2022, a decrease of 45.5 per cent from October 2021. The average MLS® residential price in BC was $932,979, a 3.1 per cent decrease from $963,011 recorded in October 2021. Total...

Read More

BC Real Estate - Economic Forecast from BCREA

Posted on Nov 12, 2022 in Market Update

BC MLS Real Estate Home SalesThe factors that drove unprecedented demand during the last two years, including record low mortgage rates, buyer preference for extra space and the abiltity to work remotely, are now unwinding, prompting a significant shift in housing markets across BC. Most importantly, mortgage rates that hit record lows in 2021 have risen rapidly. Five-year fix...

Read More

Greater Vancouver Real Estate Statistics - October 2022

Posted on Nov 02, 2022 in Market Update

Vancouver Best Realtor - Real Estate StatisticsInflation, and rising interest rates create caution across Metro Vancouver’s housing market

Home sale activity across the Metro Vancouver housing market continued to trend well below historical averages in October.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,903 in October 2022, a 45...

Read More