In the dynamic landscape of real estate, North Vancouver stands as a resilient stronghold, defying market speculations. The North Vancouver market exhibits a unique set of factors that shield it from the anticipated crashes experienced elsewhere.
Continue reading →Prices
Canadian Inflation Impact: Deciphering the Surge and Its Effect on North Vancouver Real Estate
Canadian homeowners, homebuyers, and sellers are confronting a new economic reality amidst an unforeseen surge in inflation. In December, the Statistics Canada (Stat Can) Consumer Price Index (CPI) reported an annual growth rate of 3.4%, marking a substantial leap from the previous month. Let’s delve into the factors contributing to this Canadian Inflation Impact and explore its potential implications for the North Vancouver real estate market.
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2024 Real Estate Prices: Leveraging Market Shifts for Smart Decisions
As seasoned realtors in North Vancouver, we understand the pulse of the market. In 2024, the question on everyone’s mind is, “Will 2024 real estate prices go up?” Let’s delve into the dynamics shaping the market and what it means for homeowners, buyers, and sellers.
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Canadian Real Estate Trends: A Balancing Act
In line with current Canadian real estate trends, as reported in today’s Better Dwelling article, the impact of higher interest rates is reshaping the market landscape. The recent release of Canadian Real Estate Association (CREA) data for September reveals a decline in existing home sales, but there’s more to uncover in this evolving narrative. We’ll delve into the shifting market dynamics and their implications for homeowners, homebuyers, and sellers.
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Canadian Real Estate: High Prices and Rising Rates
According to a recent Better Dwelling article, Canadian interest rates are surging higher, creating a significant hurdle for real estate prices. Last week, former Bank of Canada (BoC) Deputy Governor, Paul Beaudry, made a thought-provoking statement on the relationship between home prices and current interest rates. In this blog, we’ll explore this intriguing perspective and its implications for the Canadian real estate market.
Continue reading →BCREA – Stats Release – Signs of Recovery Heading into Spring
Provincial Housing Market Showing Signs of Recovery Heading into Spring…“While activity across provincial housing markets remains well below normal,” said BCREA Chief Economist Brendon Ogmundson. “There are encouraging signs that the market is balancing out. Home sales rose month-over-month in most markets, and prices appear to be firming up in the face of low supply.”
Continue reading →BCREA – Economics Now – Canadian Monthly Economic Growth (Q4’2022)
Canadian real GDP declined 0.1 per cent in December, the first monthly decline since January of 2022. The decline in GDP was concentrated among goods-producing industries (-0.6 per cent) while services were flat. Canadian real GDP is now roughly 2.7 per cent above its pre-pandemic, February 2020 level. Preliminary estimates suggest that output in the Canadian economy rose 0.3 per cent in January.
Continue reading →BCREA Economics – Housing Market Forecast
“A slowing economy and still elevated mortgage rates are expected to keep housing activity lower than normal through much of 2023,” said BCREA Chief Economist Brendon Ogmundson. “However, we expect a strong recovery, boosted by an expected decline in mortgage rates and record high immigration that will carry significant momentum into 2024.”
Continue reading →REBGV – Economics’ Forecast 2023
Will Metro Vancouver housing prices increase in 2023? Home sales in 2023 will remain in line with last year while prices may see small increases, according to the Real Estate Board of Greater Vancouver’s first 2023 Residential Market Forecast.
Continue reading →Greater Vancouver Sees Biggest Single-Month Surge Of Inventory In Half A Decade
Wondering why the market has been so heated during the pandemic? Condo owners decided they wanted more space after being cooped up and working from home. This set the entry level detached market on fire and we saw a trickle up effect.
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