Tag Archives: BC Real Estate Association
Strongest Summer in Five Years for Victoria Real Estate Sales
Summer-time real estate sales numbers were the best they’ve been in Greater Victoria in five years. There was a total of 1,787 sales in June, July and August. On a monthly scale, total real estate sales in Greater Victoria were up 16.8 per cent in August 2013 over August 2012, the Victoria Real Estate Board Continue Reading »
BC Housing Market Recovering From 2012 Slowdown
The British Columbia Real Estate Association (BCREA) reports that a total of 7,664 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC during May, down 0.7 cent from May of 2012. Total sales dollar volume was 2 per cent higher at $4.1 billion. The average MLS® residential price in the province was Continue Reading »
Housing Market Conditions Improve on the South Coast
The British Columbia Real Estate Association (BCREA) reports that a total of 6,904 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC during April, up 1.9 per cent from March on a seasonally adjusted basis, but down 2.2 per cent compared to April 2012. Total sales dollar volume declined 3 per cent Continue Reading »
Greater Victoria Residential Real Estate Transitions to a Balanced Market
VICTORIA BC – Weighing in on the best April since 2010, Shelley Mann, President of the Victoria Real Estate Board, is cautiously optimistic that the Greater Victoria is back into a balanced market. “Consumer confidence is increasing,” Mann says. “Our total number of sales for April is 615, a 5% increase compared to April 2012 Continue Reading »
Interest rates are going nowhere fast
By Gregory Klump – Chief Economist, CREA – March 26, 2013 Canadian interest rates will remain stuck at their current unusually low levels throughout 2013. I’ve been saying as much since early 2012 and feel more than a little vindicated by the Bank of Canada’s policy interest rate announcement on January 23rd, 2013, when it Continue Reading »
Victoria’s Feb 2013 Average House Price of $463,265 Is Virtually Unchanged From Feb 2012
BC Real Estate Association reports that February BC home sales continued at modest pace & pent-up demand is growing. Victoria’s February 2013 Average House Price of $463,265 is virtually unchanged from 2012’s average of $464,570 (down only -0.3%) and our listing volume has only increased 4% over February 2012 to 3,252 overall residential listings, even Continue Reading »
Victoria Real Estate Sales Slow but Steady in Buyers’ Market
VICTORIA BC – While the number of single-family home sales has held relatively steady over the last three months, Greater Victoria REALTORS® are noting a year-over-year decrease that coincided with tighter mortgage regulations imposed in July of this year. Amortization periods were reduced to 25 years for high-ratio buyers – those with less than 20% Continue Reading »
Bank of Canada Interest Rate Announcement – Oct 23, 2012
The Bank of Canada once again opted to hold its target for the overnight rate at 1 per cent this morning. Interest rates have been held constant for over two years, the longest such period since the 1950s.The Bank somewhat tempered its bias for higher future interest rates, including a softer statement regarding the appropriateness Continue Reading »
Victoria’s Real Estate Market – Show Me The Beef!
I attended the Annual Victoria Real Estate Board election meeting this week where Cameron Muir, Chief Economist of BC Real Association spoke. He had some strong, positive news to report and feels the media and news are exaggerating some of the declines these past few months and feels as we head into 2013 we will see Continue Reading »