Tag Archives: Economic Forecasts
2012 Ends on a Steady Note for Victoria Real Estate Market
VICTORIA BC – Victoria’s real estate market ended 2012 with relatively flat pricing when compared to 2011, along with similar sales numbers for the third consecutive year. Total MLS® sales in December 2012 were 283, a 17% decrease over December 2011 when 339 units sold. A different picture is told, however, when comparing full years, 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 »
Victoria Real Estate Market at a Standoff as Prices Remain Steady
VICTORIA BC – REALTORS® across Vancouver Island are experiencing a “wait and see” attitude amongst buyers and sellers alike. The result? Prices remain steady but sales numbers are down in some categories. Total MLS® residential sales for September 2012 were 400 compared to 435 in September 2011. During the month, 216 single family homes sold Continue Reading »
A STEADY, FLAT REAL ESTATE MARKET CONTINUES IN GREATER VICTORIA
VICTORIA, BC— The August real estate market continues to be steady and flat, considered by the Victoria Real Estate Board to reflect the “wait and see” attitude its Member REALTORS® are hearing from the buying public. Total MLS® residential sales for August 2012 was 462 compared to 542 for the same period in 2011. During Continue Reading »
Demographic Shifts Not as Bad for Housing as Perceived: CIBC
Demographic conditions in the next decade will be as supportive as in the past decade – and might soften housing correction TORONTO, Aug. 23, 2012 /CNW/ – Housing market activity is projected to soften in the near-term, but the good news is any adjustment will not be aggravated by negative demographic forces. In fact, at Continue Reading »