The British Columbia Real Estate Association (BCREA) released its 2018 Second Quarter Housing Forecast today.
Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 9 per cent to 94,200 units this year, after posting 103,700 unit sales in 2017. MLS® residential sales are forecast to remain relatively unchanged in 2019, albeit down 0.2 per cent to 94,000 units. Housing demand is expected to remain above the 10year average of 84,800 units into 2020.
“The housing market continues to be supported by a strong economy,” said Cameron...
Canada Mortgage and Housing Corporation (CMHC) today released its first quarter financial report demonstrating its contributions to the stability of housing markets and the financial system while also providing support for Canadians in housing need.
CMHC also published supplemental data on its Assisted Housing, Securitization and Covered Bonds activities. New this quarter is an expanded Mortgage Loan Insurance business supplement.
Contributing to the stability of the financial system and facilitating access to housing
For the three months ended March 31, 2018, we:
- Provided mortgage loan insurance...
Spacious and Open Layout
2 bed & Den Concrete Home
Open House June 2 from 1:00 to 3:00
Priced at $698,000
Click here for more details....
Gorgeous Mountain & Water views! Welcome to this 2bed+den/2bath/1205sqft luxury concrete home, located in OneUniversity of UniverCity at SFU; Vancouver's premier lifestyle neighborhood. Features: East/West exposure from 2 large covered balconies, engineered floors, 9’ ceilings, open kitchen w/SS apps, quartz counters & breakfast bar. Enjoy a large master complete with his/her walk-through closet, 5pc ensuite w/soaker & separate shower. Benefit...
Proud Sponsor of the University Highlands Elementary School annual Carnival. The Pony rides are always a huge hit with the kids. Join us, Saturday June 9 2018.
Statistics released today by The Canadian Real Estate Association (CREA) show national home sales fell from March to April 2018.
- National home sales fell 2.9% from March to April.
- Actual (not seasonally adjusted) activity was down 13.9% from April 2017.
- The number of newly listed homes declined 4.8% from March to April.
- The MLS® Home Price Index (HPI) in April was up 1.5% year-over-year (y-o-y).
- The national average sale price declined by 11.3% y-o-y in April.
National home sales via Canadian MLS® Systems declined by 2.9% in April 2018 to the lowest level in more than five years...
Younger homebuyers, who aim for cheaper mortgage options, will feel the impact the most
Expect a modest slowdown in housing activity and more demand for cheaper housing with the new qualifying mortgage rate, some experts say.
The Bank of Canada raised its mortgage qualifying rate to 5.34 per cent this week, meaning borrowers now face a higher bar in the federally mandated stress test. The rate was previously 5.14 per cent.
The qualifying rate, different from actual rates offered by lenders, is used as a benchmark to determine borrower eligibility. The rate is up from 4.64 per cent this time last...
The British Columbia Real Estate Association (BCREA) reports that a total of 8,203 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in April, a 16.8 per cent decrease from the same month last year. The average MLS® residential price in BC was $730,507, up 0.2 per cent from the previous year. Total sales dollar volume was $5.99 billion, a 16.7 per cent decline from April 2017.
“BC home sales were essentially unchanged in April compared to March, albeit up nearly 1 per cent on a seasonally adjusted basis,” said Cameron Muir,...
Want to live at the highest point of Vancouver? Look no further, Altitude by Hallmark. This exceptional PENTHOUSE has 3 bdrms, 3 bathrooms & 1 den, along with 1,257 sq ft roof deck. The Seller requested the developer to merge two bedrooms into one bedroom during construction. Currently there are two bedrooms, but it can be turned back to three bedrooms as the original floor plan easily. Tons of improvement including California closet, black-out blinds, & outdoor living furniture such as heat lamps & fire pit, etc. 1 block to SFU, Campus, bus loop. Supermarket, cafes & eateries. 2...
The Canadian Real Estate Association (CREA) is proposing an amendment to Bill C-45 that would result in a moratorium on home cultivation of cannabis until the governments can enact rules and regulations for the entire country.
While speaking in front of Senate Standing Committee on Social Affairs, Science and Technology, Michael Bourque, CEO of CREA, which represents more than 125,000 REALTORS® across the country, outlined some of the hazards associated with home cannabis cultivation. “We know fire chiefs are concerned about fires; police organizations are concerned with increased crime;...
The Metro Vancouver* housing market saw fewer home buyers and more home sellers in April.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,579 in April 2018, a 27.4 per cent decrease from the 3,553 sales recorded in April 2017, and a 2.5 per cent increase compared to March 2018 when 2,517 homes sold.
Last month’s sales were 22.5 per cent below the 10-year April sales average. “Market conditions are changing. Home sales declined in our region last month to a 17-year April low and home...