As inventory increases, price gains relent in Metro Vancouver to begin the fall season.

The month-over-month price gains seen earlier this year abated in the Metro Vancouver housing market in September due to a seasonal decline in sales and a modest increase in inventory levels across the region.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,926 in September 2023, a 13.2 per cent increase from the 1,701 sales recorded in September 2022. This was 26.3 per cent below the 10-year seasonal average (2,614).

“A key dynamic that we’ve been watching this year has been the reluctance of some homeowners to list their homes given that mortgage rates are the highest they’ve been in over ten…

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Welcome to the vibrant and picturesque city of Vancouver, where October brings a tapestry of fall colors and exciting activities. As the leaves change and the air turns crisp, Vancouver comes alive with a host of attractions that capture the essence of the season. Whether you're a nature enthusiast, a thrill-seeker, or a cultural explorer, there's something for everyone in this October guide to Vancouver. Join us as we uncover the top 7 things to do in this captivating city during October 2023.

1. Explore Stanley Park's Fall Beauty

Dates: Throughout October 2023

Location: Stanley Park, Vancouver

Stanley Park truly shines in October with its stunning fall foliage. The changing leaves create a picturesque backdrop for a leisurely stroll or bike…

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It is hard to believe it is October already! Even though Fall has already started, there are a few things you can do still to ensure your home is well-prepared for the season. Whatever your plans, a quick check of your home will ensure there are no surprises!

Examine Your Gutters: This time of year it is important to clean and inspect your gutters (replacing as needed) to ensure they are working properly as the rain and snow season hits. If they are clogged or damaged, it could result in flooding or exterior damage - so don’t wait!

Check for Drafts: In the Fall and Winter, many homeowners are spending extra money heating their homes due to drafts, but it doesn’t have to be that way! Do a check on all exterior doors and windows to confirm if they are…

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As we round the corner into October, now is a great time to touch base about what to expect in the marketplace this Fall!

As you may have heard, The Bank of Canada opted to maintain its policy rate at 5% as of September. The recent rate hikes over the spring and summer have slowed the housing and mortgage markets as potential buyers were unsurprisingly spooked by the rise in mortgage rates.

More recently, fixed-rate loans have become more expensive because of the rise in longer-term interest rates. As a result, housing affordability became a bigger hurdle and led to a slight decrease in home prices by 6% in major markets over the summer.

With The Bank of Canada currently maintaining the 5% policy rate, many hope this will be the peak in overnight…

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Canadian real GDP was largely unchanged from the prior month in July, following a 0.2 per cent decrease in June. A decline in manufacturing activity (-1.5 per cent) pulled GDP downwards with lower inventory formation and the BC port strike as the major contributors. Meanwhile, as wildfires retreated in Eastern Canada, the mining and quarrying sector jumped 4.2 per cent. Offices of real estate agents and brokers fell 1.3 per cent, declining for the first time in 6 months. Overall, Canadian real GDP is now 3.6 per cent above its pre-pandemic, February 2020 level.

Preliminary estimates suggest that output in the Canadian economy edged up 0.1 per cent in August. July’s GDP number came in flat as anticipated, and although economic growth appears to be…

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Introduction

Vancouver, British Columbia, is a city known for its stunning landscapes, diverse culture, and a thriving real estate market. If you're in the market for a new home, understanding the Vancouver Real Estate Map Search can be a game-changer. In this comprehensive guide, we'll take you through every aspect of this powerful tool, helping you make informed decisions and find your dream property in this beautiful city.

Vancouver Real Estate Map Search: Unveiling the Power

The Vancouver Real Estate Map Search is a dynamic online tool that allows you to explore available properties in Vancouver with incredible precision. Whether you're a first-time buyer, an investor, or looking to upgrade, this tool provides you with valuable insights and…

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When it comes to picturesque neighborhoods in Vancouver, Yaletown's Beach District stands out as a hidden gem. Nestled along the shores of False Creek, this waterfront community offers a unique blend of urban living and natural beauty. In this article, we'll dive into the enchanting Beach District of Yaletown, Vancouver, BC, and uncover its charms, amenities, and why it's an attractive place to live and visit.

Yaletown's Transformation

From Industrial Hub to Chic Urban Oasis

Once an industrial hub, the Beach District has undergone a remarkable transformation over the past few decades. It has evolved from warehouses and factories into a vibrant residential and commercial area, attracting residents and businesses alike. The district's…

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Canada's inflation rate accelerated more than expected for the second consecutive month, mainly driven by higher gasoline prices. This will not be a one-month wonder as gasoline prices rose further in September. 

The consumer price index increased 4.0% in August from one year ago, the fastest pace since April, after a 3.3% rise in July. That's faster than the median estimate of 3.8% in a Bloomberg survey of economists. Monthly, the index rose 0.4%, double expectations. Excluding gasoline, the CPI rose 4.1% in August, matching the 4.1% increase in July.

CPI Inflation Rises
Canadian inflation is no longer trending downward, presenting problems for the Bank of Canada. The BoC's preferred 3-month core measure rose by a whole percentage point to 4.5%. The incoming data…

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Not surprisingly, buyers moved to the sidelines last month as the central bank took the overnight policy rate up to 5.0%. Home sales posted a 4.1% decline between July and August, well below the 10-year moving average shown in the chart below. However, on a year-over-year (y/y) basis, the number of transactions rose 5.3%. 

The national sales data were depressed in August by declines in Greater Vancouver and the Fraser Valley, Montreal, Ottawa, Hamilton-Burlington, London and St. Thomas.

Home Sales Dipped Once Again Last Month In The Wake of Two Consecutive BoC Rate Hikes

New Listings

The number of newly listed homes edged up 0.8% m/m in August, adding to the cumulative gain of more than 24% between March and July. New listings started 2023 at a 20-year low but are now closer to average levels. Recent survey data suggest…

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