Vancouver, BC – June 13, 2024.  The British Columbia Real Estate Association (BCREA) reports that 8,075 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in May 2024, an 11.6 per cent decrease from May 2023. The average MLS® residential price in BC in May 2024 was down 1.5 per cent at $1 million, compared to an average price of $1.02 million in May 2023. The total sales dollar volume was $8.1 billion, a 13 per cent decline from the same time the previous year.

"Markets could not match the surge in home sales that occurred this time last year," said BCREA Chief Economist Brendon Ogmundson. "However, we are starting to see a pick-up in sales activity to more normal levels, which, combined with rising inventory, is…

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The Gulf Islands, nestled between mainland British Columbia and Vancouver Island, are a collection of coastal gems that offer a serene escape from the hustle and bustle of city life. With their unique blend of natural beauty, rich history, and vibrant local culture, these islands are an essential part of the Vancouver experience.

History and Culture

Indigenous Heritage

The Gulf Islands have a deep-rooted indigenous history, with the Coast Salish peoples inhabiting these lands for thousands of years. Their cultural heritage is still evident today through art, totem poles, and community practices that honor their traditions.

European Exploration

The arrival of European explorers in the late 18th century marked the beginning of significant…

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Nestled within the stunning landscapes of Vancouver, Hope is a community that truly lives up to its name. Offering a unique blend of natural beauty, rich history, and modern amenities, Hope stands out as a hidden gem waiting to be explored. But what makes Hope so special, and why should you consider it as your next home? Let’s dive in and find out!

The Charm of Hope

Historical Background

Hope’s roots run deep, with a history that stretches back to its early days as a hub for the fur trade and gold rush. This rich heritage is still visible today, with historical sites and museums preserving the stories of those who shaped the area. Walking through Hope is like stepping back in time, with charming buildings and landmarks that tell tales of a bygone…

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In the first major data release since the Bank of Canada cut interest rates on Wednesday, Statistics Canada Labour Force Survey for May showed a marked slowdown from the April surge. Employment was little changed and the employment rate fell 0.1 percentage points to 61.3%, the seventh decrease in the past eight months.

The number of employed people increased by 27,000 following a gain of 90,000 in April. Year-over-year (y/y), employment rose 2.0% in May. Part-time employment rose by 62,000 (+1.7%) in May, while full-time employment edged down (-36,000; -0.2%). Job creation rose the most in health care and social assistance, followed closely by gains in finance, insurance, real estate, rental and leasing. It fell the most in construction, largely…

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When it comes to finding the perfect getaway, Harrison Lake stands out as a unique gem. Nestled in the heart of British Columbia, this stunning lake offers more than just picturesque views. It's a place where adventure, relaxation, and culture come together in perfect harmony. But what exactly makes Harrison Lake different from the rest? Let's dive in and explore the myriad of reasons why this destination should be at the top of your travel list.

The Enchanting Beauty of Harrison Lake

Pristine Waters and Scenic Views

One of the first things you'll notice about Harrison Lake is its pristine waters. The crystal-clear lake, surrounded by lush greenery and towering mountains, creates a breathtaking panorama that’s perfect for nature lovers and…

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Have you ever dreamt of living in a place where natural beauty meets adventure at every corner? Welcome to Fraser Canyon, a hidden gem that offers a perfect blend of charm and excitement. Let's dive into what makes Fraser Canyon such a special place to live.

Discovering Fraser Canyon

Fraser Canyon is one of those places that you have to see to believe. Nestled in the heart of British Columbia, this scenic region boasts some of the most breathtaking landscapes you'll ever encounter. From towering mountains to serene rivers, Fraser Canyon is a paradise for nature lovers.

Why Fraser Canyon is a Hidden Gem

Despite its beauty, Fraser Canyon remains relatively undiscovered by the masses. This means you can enjoy the tranquility and unspoiled beauty…

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Welcome to East Chilliwack, a hidden gem nestled in the heart of British Columbia. If you're seeking a place that combines natural beauty, a friendly community, and a relaxed lifestyle, East Chilliwack might just be your perfect match. Let's dive into what makes this charming area so special.

History of East Chilliwack

Early Settlements

East Chilliwack's history dates back to the early settlers who were drawn to the fertile land and abundant resources. These pioneers laid the foundation for a thriving community that continues to grow and prosper today.

Development Over the Years

Over the years, East Chilliwack has evolved from a small agricultural settlement to a vibrant community. The area has seen significant development while maintaining…

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The Bank of Canada lowered its overnight lending rate this morning by 25 basis points from 5 per cent to 4.75 per cent. In the statement accompanying the decision, the Bank noted that first quarter real GDP growth was below forecast, and recent data suggests the economy in operating in excess supply.

On inflation, the Bank sees downward momentum in core inflation, while noting that shelter inflation remains high. Overall, the Bank is confident that inflation will continue to move toward its 2 per cent target and that monetary policy no longer needs to be as restrictive. This Bank of Canada rate-lowering cycle will be one of the few times this century that rates are being cut for reasons other than in response to a global crisis.

As such, we should…

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Spring inventory continues to build in the Fraser Valley to levels not seen in nearly five years

SURREY, BC – Slower seasonal sales helped build inventory to its highest level since September 2019 in the Fraser Valley in May, creating more balanced market conditions for home buyers and sellers. The increase in supply over the past several months has further contributed to a softening of price growth, which is good news for buyers.

Active listings increased eight per cent from April to May to 7,904 — up 42 per cent over May 2023 and 19 per cent above the 10-year average.

Sales, however, remained seasonally slow, with 1,517 transactions on the Fraser Valley Real Estate Board’s Multiple Listings Service ® (MLS®) in May, up 3 per cent from April, but…

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Metro Vancouver home sales down in May while inventory continues to increase.

VANCOUVER, BC – June 4, 2024 – The number of transactions on the Multiple Listing Service® (MLS®) declined in May compared to what is typical for this time of year in Metro Vancouver. This shift has allowed the inventory of homes available for sale to continue to accumulate with over 13,000 homes now actively listed on the MLS® in the region.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,733 in May 2024, a 19.9 per cent decrease from the 3,411 sales recorded in May 2023. Last month’s sales total was also down 19.6 per cent from the 10-year seasonal average for May (3,398).

“The surprise in the May data is that sales have…

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