The BCREA Commercial Leading Indicator (CLI) declined by 1.8 points to 134.5 from the third to the fourth quarter of 2018. Compared to this time one year ago, the index is about 1 per cent lower.
“Following several years of robust growth, the BC economy slowed in 2018 and the CLI is reflecting that slowdown,” says BCREA Deputy Chief Economist Brendon Ogmundson. “That means the economic environment for commercial real estate activity will be less favourable in 2019.”
Slowing provincial economic activity continued in the fourth quarter, led by weak retail sales and a fourth...
BCREA 2019 First Quarter Housing Forecast Update
The British Columbia Real Estate Association (BCREA) released its 2019 First Quarter Housing Forecast Update today.
Multiple Listing Service® (MLS®) residential sales in the province are forecast to increase 2 per cent to 80,000 units this year, after recording 78,345 residential sales in 2018. MLS® residential sales are forecast to increase a further 6.9 per cent to 85,500 units in 2020. The 10-year average for MLS® residential sales in the province is 85,800 units.
“The negative shock to affordability and purchasing...
BC Budget 2019, tabled on February 19, 2019 by Finance Minister Carole James, offers nothing to help home buyers – whether they’re first-timers or trading up.
The government is forecasting Property Transfer Tax (PTT) revenue to remain at $1.910 billion, despite a significant slowdown in home sales and housing starts.
Housing starts fell 6.4 per cent in 2018 and are forecast to drop 16.7 per cent to 34,000 units in 2019 from 40,857 units in 2018 and 43,664 in 2017. Starts are forecast to decline even further to 30,517 units in 2021.
Statistics released today by the Canadian Real Estate Association (CREA) show national home sales in January 2019 were up from the previous month but remained below levels recorded one year ago.
- National home sales rose 3.6% between December 2018 and January 2019.
- Actual (not seasonally adjusted) activity was down by 4% from one year ago.
- The number of newly listed homes edged up 1% month-over-month in January.
- The MLS® Home Price Index (HPI) rose 0.8% year-over-year (y-o-y) in January.
- The national average sale price fell by 5.5% y-o-y in January.
Home sales via Canadian MLS...
The British Columbia Real Estate Association (BCREA) reports that a total of 3,546 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in January, a decline of 33.2 per cent from the same month last year. The average MLS® residential price in the province was $665,590, a decline of 7.7 per cent from January 2018. Total sales dollar volume was $2.36 billion, a 38.4 per cent decline from the same month last year. “BC households continue to grapple with the policyinduced affordability shock created last year by the federal government,” said Cameron Muir,...
Thank you to all my clients in 2018 that made this possible. #2 agent in the Royal LePage West Real Estate Services office consisting of 200+ realtors. Honoured to have been presented this award by Phil Soper President and CEO of Brookfield Real Estate Services owners of Royal LePage Canada.
The trend in housing starts was 208,131 units in January 2019, compared to 207,171 units in December 2018, according to Canada Mortgage and Housing Corporation (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
"After recent declines, the national trend in housing starts held steady in January and remained above historical average," said Bob Dugan, CMHC's chief economist. "While single-detached starts continued to trend lower in January, this was offset by an uptick in the trend for multi-unit dwellings in urban...
Home listings continue to increase across all housing categories in the Metro Vancouver* housing market while home buyer activity remains below historical averages.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,103 in January 2019, a 39.3 per cent decrease from the 1,818 sales recorded in January 2018, and a 2.9 per cent increase from the 1,072 homes sold in December 2018.
Last month’s sales were 36.3 per cent below the 10-year January sales average and were the lowest January-sales total since 2009.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.