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Tag Archives: Canadian Real Estate Association

A Return to Balance for BC Housing Market

  Vancouver, BC – July 13, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 7,884 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in June, a 32.5 per cent decrease from the same month last year. The average MLS® residential price in BC was  Continue Reading »

Should I Buy a House Now or Wait?

In the market for a new home this year? Then you must be quaking in your snow boots after the news agencies reported the recent catastrophic predictions of Duetsche Bank. According to the international Bank’s chief international economist, Torsten Slok, Canadian homes are 63% overvalued—the single largest prediction of doom for this country’s housing market.  Continue Reading »

Bank of Canada Interest Rate Decision – October 22, 2014

The Bank of Canada once again chose to maintain it’s target for the overnight rate at 1 per cent this morning. In the statement accompanying the decision, the Bank noted that core inflation, which excludes volatile prices such as energy and food, has risen more rapidly than expected due to unexpected sector-specific factors while CPI  Continue Reading »

RBC Forecasts a Moderate Slow Down for Canada’s Housing Economy in 2015 – Steady As She Goes for Victoria’s Market

Canada’s seemingly unstoppable surge in housing sales and price growth may slow down soon according to a new report from RBC Economics. “Strained affordability” and rising interest rates are expected to cool down sales in the market in 2015 while prices will decrease substantially. While resales will still see an increase of 2.1 per cent  Continue Reading »

No bubble trouble: Genworth’s predictions for the Canadian condo market

Victoria Declining economic output and employment rates curbed growth in 2013, limiting demand for condos. Though with an improving economy, modest improvement is expected for 2014, lifting sales by about 2 per cent. Active condo listings dropped 9.5 per cent in 2013 and the report suggests a further 15 per cent drop is on the  Continue Reading »

CMHC to Increase Mortgage Insurance Premiums

OTTAWA, February 28, 2014 — Following the annual review of its insurance products and capital requirements, CMHC will increase its mortgage loan insurance premiums for homeowner and 1 – 4 unit rental properties effective May 1, 2014. The increase applies to mortgage loan insurance premiums for owner occupied, self-employed and 1-to-4 unit rental properties, including  Continue Reading »

Where’s the fire? Here’s how Canada’s banks reacted to CREA’s October report

Canadian existing home sales fell 3.2 per cent month-over-month in October according to a report published on Friday by the Canadian Real Estate Association (CREA). While this marked the first drop in resales since February 2013 and the largest monthly decline since the slowdown in summer 2012, sales still stood 8.3 per cent above 2012  Continue Reading »

Property sales and price forecasts for 2013 and 2014 in Canada updated

National residential property sales in Canada have improved more quickly than anticipated and as a result the Canadian Real Estate Association has updated its forecasts for 2013. Sales are forecast to reach 449,900 units in 2013 and the national average home price is projected to rise by 3.6% to $376,300 in 2013. The sales forecast  Continue Reading »

Who cares about price?

A REALTOR® once told me, “If you ever want to lose somebody at hello, just say ‘statistics.’” Maybe the same can be said for “economics” – but tuning out fundamental economic concepts like supply and demand turns a blind eye to forces that shape the price of everything. Most people pay attention to the bottom  Continue Reading »