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It's Simmertime in BC Real Estate

August 14th, 2016

Housing Market Slows to a Simmer in BC Vancouver, BC – August 11, 2016. The British Columbia Real Estate Association (BCREA) reports that 9,900 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in July, down 3.4 per cent from the same month last year. Total sales dollar volume was $6.57 billion in July, up 5.4 per cent compared to the previous year. The average ...

Posted in British Columbia

The June BC Market

July 21st, 2016

Tight Market Conditions Prevail Around the Province Vancouver, BC – July 14, 2016. The British Columbia Real Estate Association (BCREA) reports that a record 12,906 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in June, up 14.3 per cent from the same month last year. Total sales dollar volume was $8.97 billion in June, up 25.7 per cent compared to ...

Posted in British Columbia

Was the BC Government blameless in condemning the Real Estate industry for botching self regulation?

July 12th, 2016

By Jean SorensenB.C. Premier Christy Clark has stripped the Real Estate Council of B.C. of the privilege of self-regulation and a report by the council-appointed Independent Advisory Group (IAG) points to a lack of clout and culture as two main reasons the system failed.The controversy started with stories in The Globe and Mail reporting on shadow-flipping, Realtors allowing foreign buyers to ...

Posted in British Columbia

BC housing starts near record pace

July 11th, 2016

BCREA ECONOMICS NOWCanadian Housing Starts - July 11, 2016Canadian housing starts increased 17 per cent in June to 218,333 units at a seasonally adjusted annual rate (SAAR). The six-month trend in Canadian housing starts of roughly 198,000 moved higher as well and is slightly above growth in Canadian households. Housing starts in BC continued on a near record setting pace, up close to 40 pe ...

Posted in British Columbia

BC only province to record a gain in jobs in June.

July 8th, 2016

BCREA ECONOMICS NOWCanadian and US Employment - July 8, 2016Canadian employment was virtually unchanged in June as the economy shed 700 jobs. The national unemployment rate moved slightly lower, falling by 0.1 points to 6.8 per cent BC was the only province to record a gain in jobs in the month of June, adding 16,000 jobs. The provincial unemployment rate remained the lowest in the country a ...

Posted in British Columbia

If You Build It They Will Buy

June 15th, 2016

Record Home Sales Creates Wave of New Home Construction Vancouver, BC – June 15, 2016. The British Columbia Real Estate Association (BCREA) reports that a record 13,458 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in May, up 32.3 per cent from the same month last year. Home sales last month exceeded April’s record of 12,969 units. Total sales dol ...

Posted in British Columbia

BCREA 2nd Q BC housing forecast

June 2nd, 2016

Record Breaking Housing Demand Sweeps BC BCREA 2016 Second Quarter Housing Forecast Vancouver, BC – June 2, 2016. The British Columbia Real Estate Association (BCREA) released its 2016 Second Quarter Housing Forecast today. Multiple Listing Service® (MLS®) residential sales in the province are forecast to climb 12.3 per cent to a record 115,200 units this year, eclipsing ...

Posted in British Columbia

BC economy expected to expand at twice the national average

June 1st, 2016

BCREA ECONOMICS NOWCanadian Economic Growth (Q1'2016) - May 31, 2016The Canadian economy rebounded from a sluggish end to 2015, with real GDP (economic output adjusted for inflation) growing at a 2.4 per cent at an annualized rate in the first quarter of this year, well short of the 3 per cent growth expected by most economists. Economic growth was led by a rise in exports, residential invest ...

Posted in British Columbia

Shadow Flipping and Shadowy Buyers to be addressed

May 12th, 2016

Contract Changes Benefit Real Estate Consumers Vancouver, BC – May 10, 2016. Consumer awareness took a step forward with the announcement of new requirements for real estate contracts. Following on a promise made by Premier Clark in March, as of May 16, 2016 the government will require contracts prepared by real estate licensees to include clauses stating that the contract can ...

Posted in British Columbia

BC Home Sales Post All Time Record

April 25th, 2016

BC Home Sales Post All Time Record Vancouver, BC – April 15, 2016. The British Columbia Real Estate Association (BCREA) reports that a record 12,560 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in March, up 38 per cent from March of last year. Home sales last month eclipsed the previous record of 11,683 unit sales in May of 2007. Total sales doll ...

Posted in British Columbia

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It's Simmertime in BC Real Estate

The June BC Market

Was the BC Government blameless in condemning the Real Estate industry for botching self regulation?

BC housing starts near record pace

BC only province to record a gain in jobs in June.

If You Build It They Will Buy

BCREA 2nd Q BC housing forecast

BC economy expected to expand at twice the national average

Shadow Flipping and Shadowy Buyers to be addressed

BC Home Sales Post All Time Record

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