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BCREA Mortgage Rate Forecast
With the Bank of Canada interest rate announcement today, it is a good time to review BCREA's mortgage rate forecast. http://www.bcrea.bc.ca/docs/economics-forecasts-and-presentations/mortgagerateforecast.pdf ...
Continue ReadingBank 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. ...
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