Tuesday, November 2, 2021 / by Andrew Do
Metro Vancouver home buyers compete for fewer home listings in October
Home sale activity in Metro Vancouver remained above historical averages in October while the overall supply of homes for sale dipped to levels not seen in three years.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,494 in October 2021, a 5.2 per cent decrease from the 3,687 sales recorded in October 2020, and an 11 per cent increase from the 3,149 homes sold in September 2021.
Last month’s sales were 22.4 per cent above the 10-year October sales average.
“Home sale activity continues to outpace what’s typical for this time of year and the pool of homes available for sale is in decline. This dynamic between supply and demand is causing home prices to continue to edge up across the region,&rdquo ...
Wednesday, October 27, 2021 / by Andrew Do
Bank of Canada Interest Rate Announcement - October 27, 2021
The Bank of Canada maintained its overnight rate at 0.25 per cent this morning, a level it considers its effective lower bound. The Bank reiterated what it calls "extraordinary forward guidance" in committing to leaving the overnight rate at 0.25 per cent until slack in the economy is absorbed and inflation sustainably returns to its 2 per cent target. The Bank projects that will not occur until near the third quarter of 2022. Of note, the Bank is ending its quantitative easing program of bond purchases and moving into what it terms the reinvestment phase where its Government of Canada bond purchases will be made solely to replace currently maturing bonds. In its statement, the Bank noted that growth in Canada is robust and it expects the economy will grow 5 per cent this year and 4.5 per cent in 2022. However, shortages of manufacturing inputs and labour are limiting the economy's ...
Thursday, October 21, 2021 / by Andrew Do
Canadian Real Estate Report: 2021 Housing Impacts to Condo Sector
October 19th, 2021
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Canadian real estate market sees higher share of condos in 2021, in wake of rising detached housing values; affordability shifts demand for condominiums into high gear in 2021
Staggering gains in detached housing values have sent condominium sales soaring throughout the first eight months of 2021 in major Canadian real estate markets, according to a new report by RE/MAX Canada
The RE/MAX Canada 2021 Condominium Report, which examines trends and developments in five major Canadian real estate markets and more than 100 sub-markets, found that buyers turned to condominiums in 2021, as freehold housing values escalated beyond their reach. The strongest gains in sales were made in the West, where Greater Vancouver and Calgary saw condominium sales rise 87 and 83 per cent respectively between January 1 and August 31 of 2021, compared to the sa ...
Thursday, October 21, 2021 / by Andrew Do
Canadian Inflation (September 2021) - October 20, 2021
Canadian prices, as measured by the Consumer Price Index (CPI), rose 4.4% on a year-over-year basis in September, rising at the fastest rate since 2003. On a month-over-month basis, the CPI was up 0.2% in September. The Bank of Canada's preferred measures of core inflation (which use techniques to strip out volatile elements) rose an average of 2.7% year-over-year in September. Major drivers of the year-over-year price increase included transportation prices (+9.1%), shelter (+4.8%) and food prices (+3.9%) partly on continuing supply-chain difficulties. The homeowner replacement cost index, which measures the cost of replacing home structures, rose 14.4% year-over-year in September, which was the fastest rate since the 1980s. In BC, consumer prices were up 0.15% month-over-month, and up 3.5% on a year-over-year basis.
Inflation continues to run ahead of the Bank of Canada's ...
Friday, October 1, 2021 / by Andrew Do
Hello,Summer may have ended, but the real estate market is still hot. Whether you’re a buyer thinking about the best coverage options for your new home or a seller thinking about home improvement projects with the best returns, there’s plenty of support here for you. Plus, learn some top tips for staging during the fall season to make potential buyers love your home almost as much as they love the changing weather.
DIY Projects With the Best ROI
When looking to sell your home, many clients ask what are the DIY projects that have the best return on investment. While there are a number of projects to choose from, here are the top three that can boost your bottom line.Kitchen cabinetsWhen buyers tour a listing, they’re guaranteed to take a close look at the kitchen to see whether it will meet their needs, both functionally and aesthetically. Kitchen projects can be as simple as painting the cabinets, replacing the hardware, and i ...