October 2020

Canadian Inflation (September 2020)

Posted on Oct 21, 2020 in Mortgage News

Canadian Inflation - September 2020Canadian inflation, as measured by the Consumer Price Index (CPI) rose by 0.5% in September year-over-year, up from the previous month's increase of 0.1%. Excluding gasoline, the CPI rose by 1.0%. Prices rose in six of eight components year-over-year with notable increases in shelter (1.7%), food (1.6%), and health/personal care (1.6%), while price...

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Record September for BC Housing Markets

Posted on Oct 14, 2020 in Market Update

Pent up demand - Vancouver Real EstateThe British Columbia Real Estate Association (BCREA) reports that a total of 11,368 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in September 2020, an increase of 63.3 per cent from September 2019. The average MLS® residential price in BC set a monthly record of $803,210, a 15.3 per cent increase from $696,647 record...

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Canadian Employment (September 2020)

Posted on Oct 09, 2020 in Economics

Canadian Employment UpdateCanadian employment gained 378.2k jobs in September (2.1%, m/m), following a gain of 245.8k in August. This is the fifth consecutive month of increases, putting national employment within 719.5k of its pre-COVID February level. The national unemployment rate fell by 1.2 percentage points to 9% from the previous month. Gains in the services-producin...

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Canadian Housing Starts (September 2020)

Posted on Oct 09, 2020 in Economics

BC New Housing ConstructionCanadian housing starts decreased by 20% m/m to 208,980 units in September at a seasonally adjusted annual rate (SAAR), following a strong gain of almost 262,000 units in August. This is the first decline after four consecutive months of increases, which was driven by declines in the multi-unit segment in Ontario and BC. The decline was broad-based...

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September 2020 - Vancouver Real Estate Statistics

Posted on Oct 02, 2020 in Market Update

September 2020 - Real Estate StatisticsMetro Vancouver home sales and listings surge in September

Home sale and new listing activity reached record levels in Metro Vancouver in September.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,643 in September 2020, a 56.2 per cent increase from the 2,333 sales recorded in September...

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