Canada’s Economic Outlook: Interest Rate Cuts and Modest Growth Ahead The debate continues over the direction of Canada’s economy, as the Bank of Canada (BoC) faces critical decisions on interest rates. With recent gross domestic product (GDP) data showing mixed…
The real estate market in Metro Vancouver experienced a quieter-than-usual summer, with home sales on the MLS® system falling below the 10-year seasonal average in August. According to the Greater Vancouver REALTORS® (GVR), residential sales totaled 1,904 in August 2024,…
Navigating the Real Estate Market: A Comprehensive Guide for First-Time Home Buyers Entering the real estate market for the first time can be daunting, especially with the abundance of information and the significant financial commitment involved. As a seasoned…
Vancouver is facing a significant slowdown in housing construction, according to new data that confirms the fears of many industry observers. Despite a strong demand for housing and a unified push from all levels of government to boost supply, factors…
In a decision that could set a significant precedent for rental markets in British Columbia, the Residential Tenancy Branch (RTB) approved a landlord’s request to increase rent by 23.5% over two years at a fourplex property. The ruling has…
A recent Statistics Canada (StatCan) report reveals that short-term rentals, which could be repurposed as long-term housing, make up only a small fraction of the total housing stock in British Columbia. Despite efforts to regulate these rentals, their impact on…
Metro Vancouver’s housing market is experiencing a surge in newly listed properties, with inventory rising nearly 20% year-over-year in July. Despite this increase, the number of transactions has not kept pace, highlighting a disconnect between supply and demand. According…
Metro Vancouver has just experienced the largest quarterly presale inventory release since mid-2022, according to a recent report by real estate sales and marketing firm MLA Canada. The second quarter of 2024 saw a significant influx of new units hitting…
The signs of distress are everywhere. Many of Vancouver’s priciest condos are being offered at big discounts. One downtown condo that was bought for almost $3 million is now on the market for $2.3 million. At the elite, funky…
VANCOUVER, BC – July 3, 2024– Home sales in Metro Vancouver registered on the MLS® remained below seasonal and historical averages in June. Reduced competition among buyers has led to an accumulation of inventory levels not seen since the spring…