Canadian Inflation
Posted on Apr 20, 2022
Canadian prices, as measured by the Consumer Price Index (CPI), rose 6.7% on a year-over-year basis in March, up from 5.7% in February. This was the largest gain since January 1991 (+6.7%). According to Statistics Canada, price rises were broad-based, with groceries up 8.7% year over year, gasoline up 39.8%, durable goods up 7.3%, restaurants up 5...
Bank of Canada Interest Rate Announcement
Posted on Apr 13, 2022
The Bank of Canada raised its overnight policy rate from 0.5 per cent to 1 per cent. This was the first-rate increase of more than 0.25 per cent since May 2000. The Bank will also begin so-called "quantitative tightening", meaning it will be shrinking its balance sheet over time, reversing the expansion that occurred in response to the pandemic. In...
Only 35 Per Cent of British Columbians Support Government's Cooling-Off Period
Posted on Apr 11, 2022
On behalf of the province's eight real estate boards and 24,000 REALTORS®, the BC Real Estate Association (BCREA) supports the Government of British Columbia's intent to introduce a "Homebuyer Protection Period." However, the BC Government's cooling-off period fails to meet the needs of British Columbians. A recent independent survey of 1,157 Briti...
Greater Vancouver Real Estate Market Update March 2022
Posted on Apr 06, 2022
Calmer than last spring’s record pace, Metro Vancouver home buyer demand remains elevated.
VANCOUVER, BC – April 4, 2022 – While down from last year’s record numbers, home sale activity in Metro Vancouver’s* housing market remained elevated in March.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region...