Canadian prices, as measured by the Consumer Price Index (CPI), rose 2.9 per cent on a year-over-year basis in May, up from a 2.7 per cent increase in April. Month-over-month, on a seasonally adjusted basis, CPI rose by 0.3 per cent in May. The acceleration in headline CPI was driven by rising prices for services, especially cellular, travel, rents, and air transport. The shelter cost index remains the major driver of inflation with the rate of increases higher now (6.4 per cent) than they were this time last year (4.7 per cent). Mortgage interest costs were up 23.3 per cent and rent was up 8.6 per cent from the same time last year in May. Excluding shelter, consumer prices rose just 1.5 per cent, year over year. In BC, consumer prices rose 2.9 per cent…

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Inflation unexpectedly rose in May, disappointing the Bank of Canada as it deliberates the possibility of another rate cut next month.

The Consumer Price Index (CPI) rose 2.9% in May from a year ago, up from a 2.7% reading in April. This increase primarily reflects higher prices for services and, to a lesser extent, food. According to a Bloomberg survey, economists had expected 2.6% inflation last month.

Cellular services, travel tours, rent, and air transportation boosted service prices by 4.6% year-over-year (y/y) in May, up sharply from the 4.2% rise in April. Price growth for goods remained at 1%, although grocery prices rose more rapidly.

Monthly, the CPI index climbed 0.6% compared to expectations for a 0.3% gain and up from 0.5% in April.…

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Welcome to Mission, Vancouver! Nestled between the bustling city life of Vancouver and the serene beauty of British Columbia, Mission is a treasure trove of unique experiences waiting to be explored. Whether you're a history buff, an outdoor enthusiast, or someone looking to savor local flavors, Mission has something special for you. Let's dive into the hidden gems that make Mission a must-visit destination.

Exploring Mission, Vancouver

Mission is more than just a picturesque town; it's a vibrant community with a rich history and diverse cultural tapestry. As you wander through its charming streets, you'll find a blend of historic landmarks, natural beauty, and cultural delights.

Historical Landmarks in Mission

Mission Museum

The Mission…

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Maple Ridge, located in the heart of British Columbia, is a picturesque city known for its stunning natural beauty and vibrant community. With a rich history dating back to its early settlement, Maple Ridge has grown into a thriving urban center with a strong real estate market. In this comprehensive guide, we will explore the various aspects of the Maple Ridge real estate market, including its history, current trends, investment opportunities, and more.

History of Maple Ridge

Maple Ridge has a fascinating history that dates back to the early 19th century when it was first settled by European pioneers. Originally a rural agricultural community, Maple Ridge has seen significant growth and development over the years, evolving into the bustling city it…

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Tsawwassen, a name derived from the Coast Salish word meaning "land facing the sea," boasts a rich indigenous heritage. The Tsawwassen First Nation has inhabited this area for thousands of years, their culture deeply intertwined with the land and sea. The influence of this heritage is visible in the community's art, traditions, and local events.

From its early days as a small farming community, Tsawwassen has grown into a bustling suburban area. Significant development began in the mid-20th century, transforming it into a sought-after residential area. Today, it combines modern amenities with a serene coastal vibe, attracting families, retirees, and young professionals alike.

Geographical Highlights

Boundary Bay

Boundary Bay is a stunning…

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Have you ever wondered why some cities just seem to have that magic touch? Well, Surrey, BC, is definitely one of those places. Nestled in the heart of Metro Vancouver, Surrey is emerging as a real estate hotspot, capturing the attention of investors, homebuyers, and businesses alike. But what makes Surrey so special? Let’s dive in and uncover the secrets behind Surrey’s rise to prominence.

The Evolution of Surrey

Historical Background

Surrey’s journey from a quaint agricultural community to a bustling urban center is nothing short of fascinating. Originally known for its fertile lands and farming, Surrey has transformed dramatically over the decades. The city’s rich history lays a strong foundation for its future growth, blending the charm of…

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Are you looking for a new place to call home? Look no further than Langley, a vibrant community that offers the perfect blend of urban convenience and natural beauty. Whether you're a young professional, a growing family, or someone looking to retire, Langley has something for everyone. In this article, we'll explore the top reasons why Langley should be at the top of your list.

The Allure of Langley's Location

Proximity to Major Cities

Langley is strategically located, offering easy access to major cities like Vancouver. A short drive or a quick transit ride, and you're in the heart of the bustling metropolis. This proximity makes Langley an ideal choice for those who work in the city but prefer a quieter, suburban lifestyle.

Easy Access to…

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The Canadian Real Estate Association (CREA) announced today that national home sales fell 0.6% in May, remaining slightly below the average of the past ten years. Actual (not seasonally adjusted) monthly activity was 5.9% below May 2023.

With the Bank of Canada rate cut on June 5, housing activity will likely perk up in the coming months. The central bank will likely reduce the overnight policy rate from 4.75% to 3.0% by the end of next year. While interest rates will remain above pre-pandemic levels, there is pent-up demand for housing, and activity will surely rise over the next year.

New Listings

The number of newly listed homes was up in May, though only by 0.5% monthly. Slower sales amid more new listings this year have increased the…

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If you're looking for a place that combines historical charm, a tight-knit community, and stunning natural beauty, Ladner might just be the perfect spot for you. Nestled in the heart of Delta, British Columbia, this hidden gem offers a unique blend of old-world allure and modern conveniences. So, why choose Ladner? Let's dive into what makes this place so special.

The Historical Charm of Ladner

The Origins of Ladner

Ladner's roots date back to the late 19th century when it was founded by the Ladner brothers. This quaint fishing village has grown over the years but still retains its historical essence. Strolling through the streets of Ladner, you'll encounter well-preserved heritage buildings that tell the story of its rich past.

Preservation…

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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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