Housing Markets Post Strong Rebound in October

Vancouver, BC – November 25, 2024. The British Columbia Real Estate Association (BCREA) reports that 7,119 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in October 2024, up 33.5 per cent from October 2023. The average MLS® residential price in BC in October 2024 was up 0.3 per cent at $970,845 compared to an average price of $968,256 in October 2023.

The total sales dollar volume was $6.9 billion, a 33.8 per cent increase from the same time the previous year. BC MLS® unit sales were eight per cent lower than the ten-year average for October.

“While it took longer than expected, a recovery in home sales to more normal levels has seemingly arrived,” said BCREA…

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Canadian Retail Sales (September 2024)

Date: November 22, 2024

Canadian retail sales rose 0.4 per cent to $66.9 billion in September from the previous month. Compared to the same time last year, retail sales are up by 0.8 per cent. Furthermore, core retail sales, which exclude gasoline and automobile items, rose by 1.4 per cent month-over-month. In volume terms, adjusted for rising prices, retail sales rose 0.8 per cent in September.

For the third quarter of 2024, retail sales rose by 0.9 per cent overall and by 1.3 per cent in volume terms.

Regional Performance

Retail sales in British Columbia were up 0.6 per cent in September month-over-month, while down 0.5 per cent compared to the same time last year. In the CMA of Vancouver,…

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Looking for the perfect place to call home in the thriving community of Richmond? Townhouses in Richmond offer a blend of affordability, style, and convenience, making them an ideal choice for first-time buyers, families, and savvy investors. In this blog, we’ll explore the benefits of owning a townhouse in Richmond, highlight what makes this area so desirable, and guide you on how to find the best deals in the market.

Why Richmond is a Prime Location for Homebuyers

Richmond, a vibrant city nestled in the heart of Metro Vancouver, boasts a unique charm that attracts people from all walks of life. From its stunning natural beauty to its bustling urban centers, Richmond offers a balanced lifestyle that appeals to both young professionals and growing…

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Looking for exciting ways to spend your weekend in Vancouver? Whether you’re into dazzling holiday lights, unique shopping experiences, or family-friendly fun, the city has something for everyone. Let’s dive into the best events happening on November 23-24!

Surrey Tree Lighting Festival and Holiday Market

Event Overview

The Surrey Tree Lighting Festival is a magical way to kick off the holiday season. Known for its festive atmosphere, this event is packed with fun activities for all ages.

Dates, Time, and Location

When: November 23 and 24, 2024
Time: Noon to 8 pm
Where: Surrey Civic Plaza – 13450 104th Avenue, Surrey
Cost: Free

Key Attractions

Enjoy live music, food trucks, and amusement rides. Don’t miss the main event: the…

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October Inflation Rose to 2.0% As Gasoline Price Declines Were More Muted

The Consumer Price Index (CPI) rose 2.0% year-over-year in October, up from a 1.6% increase in September. Gasoline prices fell to a lesser extent in October (-4.0%) compared with September (-10.7%). The all-items CPI, excluding gasoline, rose 2.2% in October, the same growth rate as in August and September.

The smaller decline is partly attributed to a base-year effect, as prices fell 6.4% month over month in October 2023, stemming from lower refining margins and weaker global oil consumption.

On a monthly basis, prices for gasoline were up 0.7% in October, following a 7.1% decline in September.

Slower Rise in Shelter Prices

Shelter price growth continued to…

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The Canadian Housing Market Shows Signs of Life

Canadian home sales surged to their highest level in more than two years as the Bank of Canada cut interest rates, bringing buyers back into the market. Home sales rose 7.7% month-over-month (m/m) in October, reaching their highest level since April 2022.

Rising home sales were broadly based, with the Greater Toronto Area and British Columbia's Lower Mainland recording double-digit increases in October. The buoyant housing demand was likely the result of the surge in new listings in recent months and the fall in mortgage rates arising from the BoC's easing. The jumbo rate cut, however, was in the last week of October, likely having little bearing on the monthly data released by the Canadian Real…

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Are you on the hunt for the perfect house for sale in West Vancouver? West Vancouver offers an unbeatable mix of stunning natural beauty, high-quality living, and excellent amenities. With its picturesque coastal views, vibrant community, and top-rated schools, it's no wonder why this area is one of the most desirable locations for home buyers in British Columbia.

However, finding the best house for sale in West Vancouver can be overwhelming given the variety of choices and competitive market. Whether you're a first-time buyer or looking to upgrade, this guide will help streamline your search and bring you closer to your dream home.

1. Understand Your Needs and Budget

The first step in your house search is to clearly define your needs and budget.…

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Planning your weekend in Vancouver? Whether you're a local or just visiting, this vibrant city has a packed schedule of events this November. From cultural festivals to street performances, there's something for everyone. Here are the top things you won’t want to miss!

IndieFest

Start Date: November 15, 2024
End Date: November 23, 2024
Price: $19.99-$45
Location: Various Locations, Vancouver

Naissance presents the fifth annual IndieFest, an immersive celebration of creativity featuring IBPOC and LGBTQ2S+ artists. This year’s theme, “Transformation and Transcendence,” invites audiences to explore new perspectives through live performance, dance, and cutting-edge technology. Opening night features Eurydice Fragments by Luke Hathaway and…

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Searching for a home in North Vancouver can be both exciting and challenging. With its stunning natural landscapes, top-rated schools, and vibrant neighborhoods, it’s no wonder that demand for real estate in this area is consistently high. Whether you are a first-time homebuyer or looking to upgrade, knowing how to find newly listed houses for sale in North Vancouver can make all the difference. In this article, we’ll guide you through the process, offering tips and strategies for staying ahead of the competition and finding your dream home.

1. Leverage Online Real Estate Platforms

The easiest and most efficient way to find newly listed houses for sale in North Vancouver is to use online real estate platforms. Websites like Vancouver Home Search…

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Canadian employment rose by 0.1 percent from the previous month, growing by 15,000 jobs to 20.597 million in October. The employment rate fell by 0.1 points to 60.6 per cent, while the unemployment rate remained unchanged at 6.5 per cent. Average hourly wages increased by 4.9 per cent year-over-year, reaching $35.76 last month. Total hours worked rose 1.6 per cent from October of the previous year.

Employment in British Columbia (B.C.)

Employment in B.C. declined by 0.3 per cent to 2.829 million, despite a gain of 8,000 jobs in October. This marks the first month of provincial job growth since April 2024. Employment in Metro Vancouver saw a 1.2 per cent increase, reaching 1.606 million in October. The unemployment rate in B.C. dropped by 0.2…

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