Vancouver Real Estate Market Update - December 2022
Posted on Jan 06, 2023 in Market Update
Rising mortgage rates brought uncertainty and caution to Metro Vancouver’s housing market in 2022
After seeing record sales and prices during the pandemic, Metro Vancouver’s housing market experienced a year of caution in 2022 due to rising borrowing costs fueled by the Bank of Canada’s ongoing battle with inflation.
The Real Estate Board of Greater...
Canadian Inflation Disappointingly High in November
Posted on Dec 22, 2022 in Market Update
Canadian Inflation (November 2022)
Canadian prices, as measured by the Consumer Price Index (CPI), rose 6.8 percent on a year-over-year basis in November, a slight decrease from the 6.9 percent rate in October. Despite rising food and shelter costs, falling gasoline and furniture prices softened the pressure on prices. Rising interest rates contri...
Canadian Retail Sales Increases
Posted on Dec 21, 2022 in Market Update
Canadian Retail Sales (October 2022)
Canadian seasonally-adjusted retail sales rose 1.4 percent in October to $62 billion. Sales rose in 6 of 11 subsectors but were led by higher sales at gasoline stations (+6.8 percent) and food and beverage stores (+2.2 percent). Core retail sales, which strips out gasoline and motor vehicle and parts dealers, ro...
Canadian Home Prices Drop for 9th Month as Market Slows
Posted on Dec 17, 2022 in Market Update
Another Month, Another Dip in Housing
Statistics released today by the Canadian Real Estate Association (CREA) show home sales edged down in November. National home sales fell 3.3% between October and November, continuing the moderating sales trend that began last February on the precipice of unprecedented monetary policy tightening. Sales are down...
Canadian Housing Declines 0.2 from being flat in November
Posted on Dec 16, 2022 in Market Update
Canadian Housing Starts (November 2022)
Canadian housing starts were essentially flat in November, declining just 0.2 percent to 264.2k units at a seasonally-adjusted annual rate (SAAR). Comparing year-over-year, starts were down from November of 2021 (14 percent). Single-detached housing starts fell 5 percent to 67.8k, while multi-family and others...
BC Homes Continue to Decrease in November
Posted on Dec 14, 2022 in Market Update
