BC Monthly Real GDP Estimate for January 2024 & Preliminary Estimate for February 2024 The BCREA Nowcast estimate of provincial economic growth (expressed as year-over-year growth in real GDP) for January is 1.1 per cent. For comparison, year-over-year growth in the Canadian economy in January was 0.9 per cent. The preliminary estimate for February shows …
For Immediate Release Vancouver, BC – March 27, 2024. The British Columbia Real Estate Association (BCREA) is pleased to announce that Sooke REALTOR® Tim Ayres has been elected as its 2024-2025 Chair at the BCREA Annual Meeting on March 26, 2024. “I am very excited to be selected to lead our provincial professional organization as …
The BC Real Estate Association’s annual Government Liaison (GL) Days event was held from Sunday, March 10 to Tuesday, March 12, 2024, at the Hotel Grand Pacific in Victoria. Bringing together 65 attendees consisting of government relations (GR) staff and REALTOR® committee members from all of the regional boards/associations, BCREA GR staff, and Board Members, …
To view the Mortgage Rate Forecast PDF, click here. Highlights Canadian mortgage rates down sharply to start 2024. The Canadian economy – no recession yet, but growth is very slow. Waiting for the Bank of Canada to cut. Mortgage Rate Outlook In early October 2023, Canadian five-year bond yields peaked at a 17-year high of …
For the complete news release, including detailed statistics, click here. Vancouver, BC – March 13, 2024. The British Columbia Real Estate Association (BCREA) reports that a total of 5,497 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in February 2024, an increase of 15.3 per cent from February 2023. The average MLS® residential …
Summary of Findings: Read the Report The BC Government has announced its intention to implement a flipping tax in British Columbia. Specifically, the government is proposing to add an additional tax to the proceeds of the sale on the sale of a home sold within two years of purchasing. We know that flipping activity can …
Buyers may be unaware of the differences between purchasing a newly built home from: There are different benefits and pitfalls for buyers and for REALTORS® in dealing with each of these three categories of sellers. Additionally, there are different considerations for REALTORS® when dealing with each of these categories of builder or homeowner. This article …
To view the full Commercial Leading Indicator PDF, click here. The BCREA Commercial Leading Indicator (CLI) rose 3.8 points to 149.5 in the fourth quarter of 2023, while the six-month moving average rose to 147.4. Compared to the same quarter in 2022, the index was up by 0.8 per cent. Fourth Quarter Highlights The economic …
The British Columbia Real Estate Association acknowledges that our head office is located on the unceded traditional territories of the Coast Salish Nations of Sḵwx̱wú7mesh (Squamish), səl̓ilwətaɁɬ (Tsleil-Waututh), and xwməθkwəy̓əm (Musqueam). We also acknowledge the other 195 First Nations in British Columbia, as these are the lands we each call home.
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