There is an unprecedented disparity between the economic and financial situation in the US and Canada. The Canadian economy is far more interest-sensitive than the US and, therefore, slowed more dramatically in response to the Bank of Canada’s restrictive policy to bring inflation back to its 2% target level.

The jobless rate in Canada has reached 6.5%, well above the level in the US, and job vacancy rates have plummeted. Wage inflation has been sticky at 4.9% but will likely edge downward in response to excess supply in the labor market.

Inflation accelerated to 2% y/y in October, compared to the cycle-low 1.6% in September, mainly because gasoline price deflation slowed. The odds of another 50 bps rate cut by the central bank—on the…

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New Listings at 10-Year High in 2024, but Affordability Still the Elephant in the Room in Fraser Valley

SURREY, BC – Bank of Canada interest rate cuts that began mid-year were not enough to ease the affordability crisis for many home buyers in the Fraser Valley in 2024, leading to a decline in annual sales. The Fraser Valley Real Estate Board reported new listings of 35,698 for the year ended December 31, 2024, a 10-year high and nine per cent above the 10-year average. However, annual sales recorded on the Multiple Listing Service® (MLS®) were the lowest seen in ten years at 14,570, a decline of one per cent over 2023 and 24 per cent below the 10-year average.

The City of Surrey accounted for the majority of 2024 sales at 51 per cent, with…

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Home Sales Register a Strong Finish to Cap Off 2024

VANCOUVER, BC – January 3, 2025

Home sales registered on the Multiple Listing Service® (MLS®) in Metro Vancouver rose over thirty per cent in December, compared to the previous year, signalling strengthening demand-side momentum to close out 2024.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 26,561 in 2024, a 1.2 per cent increase from the 26,249 sales recorded in 2023, and a 9.2 per cent decrease from the 29,261 sales in 2022.

Last year’s sales total was 20.9 per cent below the 10-year annual sales average (33,559).

“Looking back on 2024, it could best be described as a pivot year for the market after experiencing such dramatic increases in…

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Richmond, BC, is a vibrant and diverse city that has quickly become one of the most desirable places to live in the Greater Vancouver Area. With its thriving economy, excellent amenities, and diverse housing options, Richmond offers an unparalleled lifestyle for families, professionals, and retirees alike. If you’re in the market for a new home, particularly a townhouse, Richmond should be at the top of your list. Here’s why buying a townhouse for sale in Richmond BC in 2025 is a smart decision.

Richmond’s Unmatched Lifestyle and Amenities

One of the primary reasons people are drawn to Richmond is the city’s exceptional quality of life. From its rich cultural heritage to its modern amenities, Richmond offers something for everyone.

A Thriving…

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Investing in real estate is a smart financial decision, and buying a duplex offers unique benefits. In Surrey, duplex properties are increasingly popular due to their versatility and potential for rental income. However, financing a duplex for sale in Surrey requires careful planning and understanding of the process. This guide provides practical tips to help you secure financing and make your investment a success.

Why Invest in a Duplex in Surrey?

Surrey’s real estate market is thriving, and duplex properties are a standout option for several reasons. Before diving into financing tips, let’s explore why duplexes are an excellent investment:

  • Dual Income Potential: You can live in one unit while renting out the other, offsetting your…

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Buying a house is a significant milestone, and securing financing is one of the most crucial steps in the process. East Vancouver, with its vibrant communities and diverse housing options, is an attractive area for prospective homeowners. However, navigating the financing landscape for houses for sale in East Vancouver requires careful planning and informed decision-making. This guide will walk you through the key steps to secure financing for your dream home in this sought-after neighborhood.

Understanding Your Financial Readiness

Before diving into the housing market, it’s essential to assess your financial readiness. This step sets the foundation for a smooth financing journey and ensures you’re well-prepared to make a competitive offer.

…

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When searching for your dream home, East Abbotsford offers an appealing blend of serene neighborhoods, excellent schools, and stunning natural surroundings. Whether you’re a first-time buyer or looking for a property upgrade, it’s essential to know what to look for when touring East Abbotsford homes for sale. By focusing on key features that align with your needs and lifestyle, you can make a confident, informed decision.

Location and Neighborhood Amenities

One of the most important factors to consider when buying a home is its location. East Abbotsford boasts a variety of neighborhoods, each with its unique appeal. As you tour homes, consider the following:

Proximity to Schools and Parks

East Abbotsford is known for its excellent school…

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Are you in the market for a new home and considering a townhouse for sale in Richmond? With its vibrant community, excellent amenities, and picturesque surroundings, Richmond is a top choice for homebuyers seeking a blend of urban convenience and suburban charm. Finding the perfect townhouse can feel overwhelming, but with the right approach, you can streamline your search and make informed decisions. This guide will walk you through the essential steps to discover your ideal townhouse in Richmond.

1. Define Your Priorities

Before diving into the real estate market, it’s crucial to identify your specific needs and preferences. A townhouse offers unique advantages, such as shared amenities and lower maintenance compared to detached homes, but…

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The Canadian Housing Market Strengthens Further

Home sales activity recorded over Canadian MLS® Systems rose again in November, building on October’s surprise jump.

Sales were up 2.8% m/m in November compared to October and now stand a cumulative 18.4% above where they were in May, just before the first interest rate cut in early June. Actual (not seasonally adjusted) monthly activity was 26% above November 2023.

The November increase was driven by gains in Greater Vancouver, Calgary, Greater Toronto, and Montreal and double-digit sales increases in smaller cities in Alberta and Ontario.

According to Shaun Cathcart, CREA's Senior Economist, “Not only were sales up again but with market conditions now starting to tighten up, November also saw…

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The real estate market in West Vancouver is renowned for its stunning waterfront properties, luxurious high-rises, and breathtaking mountain views. If you’re in the market for a new home or investment, West Vancouver condos for sale present incredible opportunities. However, negotiating the right price can make all the difference between a satisfactory deal and a great one. To help you achieve the best possible value, here are some expert tips on how to negotiate effectively.

1. Understand the Market Conditions

Before entering any negotiation, it’s crucial to have a clear understanding of the current market dynamics. The real estate market in West Vancouver can fluctuate based on several factors, including demand, inventory levels, and economic…

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