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May 13, 2016

Contract Changes Benefit Real Estate Consumers

Vancouver, BC – May 10, 2016. Consumer awareness took a step forward with the announcement of new requirements for real estate contracts. Following on a promise made by Premier Clark in March, as of May 16, 2016 the government will require contracts prepared by real estate licensees to include clauses stating that the contract cannot be assigned without the written consent of the seller, and th…

May 13, 2016

Canadian and US Employment – May 6, 2016

Employment in Canada was essentially unchanged in April following a surge of job growth in March. Total employment fell by 2,100 jobs and the national unemployment rate held steady at 7.1 per cent.  Total hours worked, which is closely associated with economic growth, increased by 0.9 per cent over the past 12 months.Employment in BC continued to expand, rising by 13,000 jobs in April which h…

May 13, 2016

Home sales remain at record levels across Metro Vancouver

Last month was the highest selling April on record for Metro Vancouver.Residential property sales in the region totalled 4,781 in April 2016, an increase of 14.4 per cent from the 4,179 sales recorded in April 2015 and a decrease of 7.6 per cent compared to March 2016 when 5,173 homes sold.April sales were 41.7 per cent above the 10-year sales average for the month.“Home buyer competition…

May 11, 2016

Metro Vancouver Edition – April

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May 6, 2016

Sales Ratio & Official Market Type

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Apr 28, 2016

Vancouver, BC – March 14, 2016

Vancouver, BC – March 14, 2016. The British Columbia Real Estate Association (BCREA) reports that a total of 9,637 residential unit sales were recorded by the Multiple Listing Service® (MLS®) last month, up 44.7 per cent from February of last year. This smashed the previous record of 8,157 unit sales for the month of February recorded in 1992. Total sales dollar volume was $7.51 billion in Febr…

Apr 28, 2016

Canadian Monthly GDP (January) – March 31, 2016

The Canadian economy got off to a fast start in 2016 as real GDP expanded 0.6 per cent in the month of January, the fourth consecutive monthly increase. Output was led higher by gains in the manufacturing, oil and gas extraction, retail trade and finance industries. Given the strong start to the quarter, economic growth is tracking at a more than 3 per cent rate for the first quarter.The Cana…

Apr 28, 2016

US Employment – April 1, 2016

US Non-farm payrolls increased for a record 73rd consecutive month in March, rising by 215,000 jobs.  The US unemployment rate edged slightly higher to 5 per cent.  Over the past three months, the US economy added an average of 209,000 jobs per month.The US economy is steadily growing and producing jobs at a good but not spectacular pace. Wage growth is low but seems to be increasing and infl…

Apr 28, 2016

Bank of Canada Interest Rate Announcement – March 9, 2016

The Bank of Canada announced this morning that it is maintaining its overnight rate at 0.5 per cent. In the press release accompanying the decision, the Bank noted that inflation is evolving as anticipated but that a weak economy will continue to dampen growth in consumer prices. Overall, the Bank judges that risks in the economy are roughly balanced, though financial vulnerabilities have incre…

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