October 29, 2015
CMHC Releases its Housing Market Assessment Report for Canada and 15 Markets
Canada Mortgage and Housing Corporation (CMHC) released its Housing Market Assessment (HMA) report formerly known as the House Price Analysis and Assessment (HPAA) that evaluates the extent to which there is evidence of problematic housing market conditions in 15 Census Metropolitan Areas (CMAs).
The HMA points to strong overall evidence of problematic conditions in Toronto, Winnipeg, Saskatoon and Regina. In Toronto, strong evidence of problematic conditions reflects a combination of price acceleration and overvaluation. Strong evidence of problematic conditions in Winnipeg, Saskatoon, and...
October 26, 2015
JUST SOLD - 87 9229 University, Burnaby, SFU, UniverCity
Bright & Spacious
2 Level, 2 Bed Town home
Priced at $424,800
Open: Sat Sep 19 from 1 to 3
Detached style living with strata convenience! Welcome to UniverCity at SFU, Vancouver’s premier lifestyle neighborhood. This bright 2lvl/2bed/2bath/1094sqft home is in great condition & shows very well. Features: open layout, excellent room separation, large kitchen w/eating area & SS apps. Enjoy outdoor living on your extended patio. Top floor: master with 3pc ensuite, tons of closet space, 4pc bath, a large 2nd bedroom & conveniently located...
October 26, 2015
CMHC Expects Housing Markets to Moderate in 2016 and 2017
CMHC’s fourth quarter 2015 Housing Market Outlook, Canada Edition, expects housing markets to moderate in 2016 and 2017.
“In 2015, increased housing market activity in provinces like Ontario and British Columbia – provinces that have benefitted from declining energy prices, a lower Canadian dollar and continued low mortgage rates – offset slowdowns in oil-producing provinces like Alberta,” said Bob Dugan, CMHC Chief Economist. “We expect, however, that this counterbalancing effect will decrease over time. As such, housing...
October 25, 2015
Open House: 101 9370 University, Burnaby, SFU, UniverCity
Garden Level Patio
Prestigious One University
Open House Oct 31 from 2:00 to 4:00
Priced at $408,800
Looking for outdoor space as an extension of your indoor living? Look no further! Calling all outdoor, garden and pet lovers. Enjoy the 371sqft ground level patio of this 2bed/2bath/973sqft home in the luxurious concrete tower of OneUniversity located in UniverCity; Vancouver's premier lifestyle neighborhood. Features: espresso color floor, 9’ ceilings, shaker style cabinets, quartz counters, SS apps, excellent room separation, cozy fireplace & more. The large master has his/her walk-through...
October 21, 2015
Bank of Canada maintains overnight rate target at 1/2 per cent
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent.
Inflation has evolved in line with the outlook in the Bank’s July Monetary Policy Report (MPR). Total CPI inflation remains near the bottom of the Bank’s target range, owing to declines in consumer energy prices. Core inflation is close to 2 per cent as the transitory effects of the past depreciation of the Canadian dollar are roughly offsetting disinflationary pressures from economic slack, which...
October 16, 2015
House prices jump yet again across Metro Vancouver
House prices across Metro Vancouver jumped yet again this quarter, bringing up the aggregate home price to just under a million bucks, according to a Royal LePage report released Wednesday.
The aggregate price for condos, bungalows and two-storey houses across the region rose by 12.9 per cent to $928,532 in the third quarter of 2015. Richmond and Burnaby posted the highest increase across housing types, with aggregate prices rising to $868,105 and $832.411 respectively, according to the report.
But Vancouver, where insane real estate prices prompted the #donthave1million campaign drawing attention...
October 14, 2015
Canadian home sales ease in September
According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity eased in September 2015 from the month before.
- National home sales declined by 2.1% from August to September.
- Actual (not seasonally adjusted) activity edged up 0.7% compared to September 2014.
- The number of newly listed homes retreated 2.1% from August to September.
- The Canadian housing market remains balanced overall.
- The MLS® Home Price Index (HPI) rose 6.9% year-over-year in September.
- The national average sale price rose 6.1% on a year-over-year basis in September;...
October 14, 2015
Strong Housing Demand Pulls Inventory to an Eight Year Low
The British Columbia Real Estate Association (BCREA) reports that a total of 8,553 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in September, up 12 per cent from the same month last year. Total sales dollar volume was $5.2 billion, up 18 per cent compared to the previous year. The average MLS® residential price in the province rose to $605,258, up 5.3 per cent from September 2014.
“Strong consumer demand has pulled down the inventory of homes for sale to its lowest level in eight years,” said Cameron Muir, BCREA...
October 9, 2015
September 2015 Housing Starts in Canada
The trend measure of housing starts in Canada was 202,506 units in September compared to 195,804 in August, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
“The trend in housing starts is at its highest point since January 2013, as a result of the launch of some major rental housing projects as well as continued strength in condominium construction,” said Bob Dugan, CMHC’s Chief Economist. “As a result, trend activity is now above the projected annual...
October 2, 2015
Metro Vancouver home buyers compete for fewer home listings
Conditions continue to favour home sellers across *Metro Vancouver’s housing market.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 3,345 on the Multiple Listing Service® (MLS®) in September 2015. This represents a 14.5 per cent increase compared to the 2,922 sales recorded in September 2014, and a 0.5 per cent decrease compared to the 3,362 sales in August 2015.
Last month’s sales were 32.9 per cent above the 10-year sales average for the month. “Residential home sales have...