Blog
Bank of Canada Interest Rate Decision
The Bank of Canada announced this morning that it is raising its target for the overnight rate by 25 basis points to 0.75 per cent. In the press release accompanying the decision, the Bank noted that Canada's economy has been robust and a significant amount of economic slack has been ...
Continue ReadingBC Home Sales to Exceed 100,000 Units for Third Consecutive Year BCREA 2017 Second Quarter Housing Forecast
The British Columbia Real Estate Association (BCREA) released its 2017 Second Quarter Housing Forecast today. Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 10 per cent to 101,000 units this year, after reaching a record 112,209 units in 2016. Housing demand gained strength this spring, as ...
Continue ReadingHousing Supply Not Keeping Pace with Demand in Most BC Regions
The British Columbia Real Estate Association (BCREA) reports that a total of 12,402 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in May, down 7.9 per cent from the same period last year. Total sales dollar volume was $9.33 billion, down 4.0 per cent from May 2017. ...
Continue ReadingBank of Canada Interest Rate Announcement
The Bank of Canada announced this morning that it is holding the target for its overnight rate at 0.5 per cent. In the press release accompanying the decision, the Bank noted that inflation is broadly in line with the Bank's projection, though intense retail competition is pushing inflation temporarily lower. ...
Continue Reading