The Canadian Real Estate Association announced today that home sales over the last two months show signs of recovery. National sales were up 3.7% between December 2023 and January 2024, building on the 7.9% gain in December. The chart below shows that despite the two-month rise, sales remain 9% below their ten-year average.

According to Shaun Cathcart, CREA's Senior Economist, "Sales are up, market conditions have tightened quite a bit, and there has been anecdotal evidence of renewed competition among buyers; however, in areas where sales have shot up most over the last two months, prices are still trending lower. Taken together, these trends suggest a market that is starting to turn a corner but is still working through the weakness of the last two…

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Vancouver, BC –  February 13, 2024. The British Columbia Real Estate Association (BCREA) reports that a total of 3,979 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in January 2024, an increase of 29.4 per cent from January 2023. The average MLS® residential price in BC in January 2024 was up 10.5 per cent at $957,909 compared to an average price of $866,922, the low-point for average prices over the past two years. The total sales dollar volume was $3.8 billion, an increase of 42.9 per cent from the same time in the previous year.

"Home sales are on a clear uptrend to start 2024," said BCREA Chief Economist Brendon Ogmundson. "A sharp decline in fixed mortgage rates and expectations for future Bank of Canada rate…

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Port Coquitlam, nestled in the Greater Vancouver area of British Columbia, offers a promising landscape for real estate investment. Understanding the dynamics of its real estate market is crucial for individuals seeking to capitalize on its potential.

Location and Overview:

Situated along the beautiful Fraser River, Port Coquitlam Real Estate boasts a strategic location with easy access to major transportation routes. Its population has been steadily growing, driven by a mix of young families and professionals attracted to its suburban charm. Economic stability and job opportunities further contribute to its appeal.

Market Trends and Analysis:

Analyzing historical data reveals an upward trajectory in property prices, indicating a resilient…

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Today's StatsCanada Labour Force Survey for January was a mixed bag and shows the dramatic effect of surging immigration. Canadian employment rose by a stronger-than-expected 37,300, but part-time jobs rose by 48,900, and in the public sector, the gain was huge. The employment rate fell a tick because population growth outpaced employment growth. The working-age population surged by 125,500 in a single month and is up by a remarkable 1 million adults year-over-year. 

This ballooning of the working-age population is without precedent. In the past, it has never grown more than 500,000 in any year. Holy Cow, what are we doing?  Where will all of the people live, where will their kids go to school, where will the new hospitals be built, not to mention the…

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Nestled on the eastern shore of Burrard Inlet, Port Moody stands as a testament to the allure of Pacific Northwest living. Its stunning natural landscapes, coupled with its proximity to Vancouver, have made it a coveted destination for homebuyers and investors alike. In this article, we delve into the thriving real estate market of Port Moody, uncovering its hidden gems and exploring the factors driving its growth.

Location and Overview of Port Moody:

Port Moody's picturesque setting, surrounded by mountains and water, offers residents a tranquil retreat from the hustle and bustle of city life. Originally established as a mill town in the late 19th century, it has since evolved into a vibrant community with a rich history and diverse population.

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New Westminster, nestled along the picturesque Fraser River in British Columbia, Canada, boasts a rich history and a dynamic present. The city's real estate market stands as a testament to its growth and potential, offering opportunities for both homeowners and investors alike.

Historical Context of New Westminster

Founding and Early Development

Founded in 1859, New Westminster holds the distinction of being British Columbia's first capital. Its strategic location spurred rapid development, attracting settlers and businesses seeking new opportunities.

Evolution of Real Estate Market

Over the years, the New Westminster real estate market has undergone significant transformations, reflecting shifts in economic, social, and cultural…

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North Vancouver, nestled in the heart of British Columbia's Lower Mainland, is more than just a picturesque suburb; it's a vibrant community with a thriving real estate market that continues to attract homebuyers and investors alike. In this article, we delve into the enchanting world of North Vancouver's real estate, uncovering its charm and exploring the opportunities it offers.

Location and Geography

North Vancouver Real Estate boasts a prime location, bordered by the Burrard Inlet to the south and the Coast Mountains to the north. Its stunning natural surroundings, including lush forests, majestic mountains, and sparkling waterfronts, contribute to its allure and desirability in the real estate market.

Real Estate Trends

The real estate…

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Living in Metro Vancouver offers a blend of urban convenience and natural beauty, and amidst this bustling region lies Burnaby, a hidden gem cherished by locals and newcomers alike. In this article, we'll delve into the dynamic real estate landscape of Burnaby, uncovering why it's a prime destination for homebuyers and investors alike.

Why Burnaby Real Estate?

Burnaby Real Estate's allure stems from its diverse offerings, from picturesque parks to thriving urban centers. Situated in close proximity to Vancouver, Burnaby boasts a vibrant community with excellent amenities, making it an ideal place to call home. Homebuyers are drawn to Burnaby for its accessibility, quality education, and abundance of recreational opportunities.

Types of Properties…

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Buckle up as we dive into the dynamic world of Vancouver East real estate, uncovering trends and insights that shape the property market in this vibrant region. In this article, we'll explore the current state of the market, investment opportunities, challenges, and much more.

Current Market Trends

Before making any real estate decisions, it's crucial to understand the prevailing trends. We'll take a closer look at the factors driving Vancouver East's real estate dynamics and the influences that shape the market.

Residential Property Landscape

Vancouver East boasts a diverse residential property landscape, catering to various preferences. Whether you're eyeing a cozy single-family home, a trendy condo, or a modern apartment, this region…

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Signs of stability in Fraser Valley housing market.

The Fraser Valley real estate market showed signs of recovery in January as home sales rose after six consecutive months of decline, and new listings more than doubled.

The Fraser Valley Real Estate Board recorded 938 transactions on its Multiple Listing Service® (MLS®) in January, a 12 per cent increase over December and below the 10-year average for sales in the region.

At 2,368, new listings increased 151 per cent in January, rebounding strongly from the seasonal lull seen in December. This is the largest month-over-month percentage increase in new listings in five years. “With January sales on the rise, we are seeing hopeful signs that optimism is returning to the market,” said Narinder…

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