Latest Vancouver Real Estate News

BC Home Sales Trending Toward Normal Activity

Posted on May 12, 2022

Vancouver, BC – May 12, 2022. The British Columbia Real Estate Association (BCREA) reports that a total of 8,939 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in April 2022, a decrease of 34.9 per cent from a record April 2021. The average MLS® residential price in BC was $1.065 million, a 12.9 per cent increase from...

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Canadian Employment (April 2022)

Posted on May 06, 2022

After growing in February and March to a record level, Canadian employment was little changed in April at 19,601k. The labour market is tight, with the Canadian unemployment rate declining by 0.1 to 5.2 per cent, the lowest rate on record since comparable data became available in 1976. The total hours worked fell 1.9 per cent in April while average...

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Greater Vancouver Real Estate Market Update April 2022

Posted on May 05, 2022

Metro Vancouver home sales return to more traditional levels in April

VANCOUVER, BC – May 3, 2022 – Home buyer demand in Metro Vancouver* returned to more historically typical levels in April.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,232 in April 2022, a 34.1 per cent decrease fro...

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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...

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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...

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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...

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