The BC real estate market, along with other areas in Canada, continues to show signs of recovering from the changes early in 2018 in government regulations with respect to stress testing and foreign buyers. The approval of the LNG terminal in Kitimat, BC means that the $6 billion Coastal GasLink pipeline will also be [...]
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So far Cherelle Arnesen has created 11 blog entries.
The BC real estate market is showing signs of recovering from the changes in government regulations with respect to stress testing and foreign buyers. When adjusted for seasonal buying trends, there has been an overall increase in sales of 3.5%. However, in Greater Vancouver, the Fraser Valley, Okanagan and Kamloops regions, homes and listings [...]
Sales in Metro Vancouver continued to slide in the month of August with sales down 36% compared to August last year. The other major markets in the province had similar trends with the Fraser Valley being hit the hardest with a 38.5% decrease in sales compared to August 2017. Vancouver, the Fraser Valley and [...]
Sales across all major markets in the province in July 2018 decreased significantly compared to July 2017, with Metro Vancouver notably hitting an 18-year low for real estate sales. Active listings increased across much of the province, resulting in greater supply and choice for potential homebuyers. Mortgage delinquency in Vancouver is the lowest in [...]
Declining sales was the trend across all major markets in the BC real estate sector to start the summer. The Fraser Valley was impacted the most in June as the region saw a decrease of 43.5% in sales when compared to June of 2017. Kamloops felt the smallest impact with sales declining 11.4% over [...]
Most regions of the province’s real estate market saw dramatic decreases in the number of units sold. Greater Vancouver was the most heavily affected with a 35.1% decrease compared to May 2017. Active listings and new listings increased throughout much of the province, with Greater Vancouver having an almost 40% increase in active listings [...]
Sales across almost all major real estate markets in the province showed significant decreases compared to April 2017. Sales of detached homes in Vancouver fell to the lowest level in 17 years for the month of April. Interestingly, new listings, as well as the total active listings, increased across almost all major markets in [...]
Lenders should be take note that under the new BC Limitation Act the clock for the 2 year limitation period for security enforcement may start to run from the date of the first default. As a result of the 2018 decision of the Court of Appeal for BC in the foreclosure case of Leatherman [...]
Signs from this past month’s real estate market seem to indicate that some of the government measures aimed at cooling the real estate market may be starting to have some success. Every major market in British Columbia saw decreases in sales of over 20% compared to March of 2017. The Greater Vancouver market saw [...]
Almost all major markets in British Columbia saw sales fall in February as compared to February 2017. The Victoria market was the hardest hit, seeing sales fall year-over-year by almost 20% for the month. Rising interest rates and government policy decisions are the likely culprits for the cooling of the market, though the Bank [...]