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INDUSTRY INSIGHTS
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BCREA NowcastThe BCREA Nowcast estimate of provincial economic growth (expressed as year-over-year growth in real GDP) for July 2022 is 4.9 per cent.
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UPDATE: COVID-19 Recovery DashboardThe BCREA Economics team has created the COVID-19 Recovery Dashboard to help REALTORS® monitor BC’s economic recovery.Posted Sep 28, 2022
by Ryan McLaughlin -
CLI Falls in Second Quarter 2022The BCREA Commercial Leading Indicator fell to 153 from 155 in the second quarter of 2022, but the six-month moving average hit a record high. Compared to the same time in 2021, the index was down by 1.6 per cent.Posted Sep 27, 2022
by Ryan McLaughlin -
Mortgage Rate ForecastFive-year bond yields briefly declined through July, only to once again recover their previous 2022 highs as still rising core inflation prompted a reversal in expectations for monetary policy.Tags: Mortgage Rate ForecastPosted Sep 22, 2022
by Brendon Ogmundson -
BCREA and Real Estate Board Delegates Join Discussion on Housing Affordability at 2022 Union of British Columbia Municipalities ConventionLast week, BCREA and five of BC’s real estate boards sent delegates to the Union of BC Municipalities Convention in Whistler to meet with local and provincial political leaders.Posted Sep 22, 2022
by Matt Mayers -
Housing Market Update – September 2022Watch BCREA Economist Brendon Ogmundson discuss the August 2022 statistics.Tags: Housing Market Update VideosPosted Sep 15, 2022
by Brendon Ogmundson -
BC Housing Market Showing Signs of Stabilizing Despite Decreased ActivityBCREA reports that a total of 5,645 residential unit sales were recorded by the MLS® in August 2022, a decrease of 40.8 per cent from August 2021.Posted Sep 13, 2022
by Brendon Ogmundson -
BCREA 2022 Third Quarter Housing Forecast Update: High Mortgage Rates Will Weigh on Housing Activity Through 2023In its 2022 Third Quarter Housing Forecast Update, BCREA forecasts MLS® residential sales are forecast to fall an additional 5 per cent to 77,790 units.Tags: Housing ForecastPosted Sep 08, 2022
by Brendon Ogmundson -
BCREA Access: Explore Five Useful Resources Available NowUsing BCREA Access is easy! Discover five helpful resources accessible on your desktop, mobile and tablet devices today.Posted Sep 06, 2022
by Pearl Zhou -
BCREA Appointee Sought for Real Estate Compensation Fund Corporation (RECFC)BCREA Board of Directors is seeking an appointee for the Real Estate Compensation Fund Corporation Board of Directors.Posted Aug 26, 2022
by Ivonne García -
Prevent Client Remorse in a Fluctuating Real Estate Market #552Ensuring you’re well prepared upfront with the proper documentation, the best information and best practices, REALTORS® can help prevent client remorse.Tags: Buyers Acknowledgement of Information CMA Housing Market Market Value Practice Tips Property Value RemorsePosted Aug 25, 2022
by Chris Johnston -
Get to Know BCREA Access – The New Platform Created Exclusively for BC REALTORS®BCREA Access is a new, secure platform designed to house resources for REALTORS® and managing brokers where and when they need it the most.Posted Aug 23, 2022
by British Columbia Real Estate Association -
BC’s Home Buyer Rescission Period: Your Questions AnsweredLearn more about the Home Buyer Rescission Period which is expected to be implemented province-wide in January 2023.Tags: A Better Way Home BCFSA Consumer Protection Cooling Off Period Homebuyer Protection Period Homebuyer Rescission Period Real Estate PracticePosted Aug 15, 2022
by Matt Mayers -
BCREA Access Replacing REALTOR Link® On August 23On August 23, BCREA is launching BCREA Access, a new platform for REALTORS® to securely access resources from BCREA.Posted Aug 11, 2022
by British Columbia Real Estate Association -
Markets at a GlanceThese charts provide year-to-date information on the pace of MLS® home sales for the province as well as in each of the BCREA member board regions and a comparison of current year sales…Posted Aug 11, 2022
by Ryan McLaughlin -
BC Home Sales Continue to Slow in JulyThe British Columbia Real Estate Association reports that a total of 5,572 residential unit sales were recorded by the Multiple Listing Service® in July 2022, a decrease of 42.4 per cent from July 2021.Posted Aug 11, 2022
by Brendon Ogmundson -
BC’s Homebuyer Protection Period: What’s Next for REALTORS®?REALTORS® are at the front lines of real estate transactions in BC, so a change in the way transactions are conducted will have an impact on how your serve your clients.Tags: Community of Practice Consumer Protection Cooling Off Period Homebuyer Protection Period PDP Professional Development Program Real Estate Practice Resources for REALTORS® Standard FormsPosted Jul 28, 2022
by Shaheed Devji -
Getting to Informed Consent: Explaining Listing Agreements to Clients #551Better serve your clients when you fully understand listing contract agreements and can thoroughly explain key details before they put pen to paper.Posted Jul 28, 2022
by Peter Borszcz -
Updated Online Anti-Money Laundering Course Now Available for REALTORS®Learn about what is required by FINTRAC to ensure that your practice complies with regulations and laws in this updated self-paced online course by the Canadian Real Estate Association.Posted Jul 27, 2022
by Pearl Zhou -
BC Government to Implement Homebuyer Protection Period in January 2023The BC Government has created regulations that will enable a mandatory three-day Homebuyer Protection Period, previously called a “cooling off period,” on January 1, 2023.Tags: A Better Way Home Consumer Protection Cooling Off Period Homebuyer Protection Period Pre-Offer Period Real Estate PracticePosted Jul 21, 2022
by British Columbia Real Estate Association -
High Mortgage Rates Keeping Potential Buyers SidelinedBCREA reports that a total of 7,136 residential unit sales were recorded by the MLS® in June 2022, a decrease of 35.7 per cent from June 2021.Posted Jul 12, 2022
by Brendon Ogmundson -
New Online Course Explores Systems Used in Residential ConstructionKnow your Product: House Systems is a new self-paced online course that provides a comprehensive introduction to the systems used in residential construction equipping Realtors with tools to better assist clients.Posted Jun 30, 2022
by Harveen Dhaliwal -
BC REALTORS® Meet In-Person Again at the Association of Interior REALTORS® TradeshowFrom June 22-23, BCREA staff participated in the inaugural Association of Interior REALTORS® tradeshow in sunny Penticton, BC.Posted Jun 30, 2022
by Pearl Zhou -
Use Your Name Wisely #550Despite good intentions, there are limits to how far a REALTOR® should go to help a colleague when it comes to business collaborations and opportunities.Posted Jun 30, 2022
by Amy Peck -
BC Real Estate Association named Great Place to Work® in Canada for 2022The 2022 Great Place to Work® designation marks the third consecutive year BCREA has received this accreditation.Posted Jun 29, 2022
by British Columbia Real Estate Association -
BC Government Releases Cullen Commission Final Report and RecommendationsOn Wednesday, June 15, the BC Government publicly released the final report and recommendations from the Cullen Commission of Inquiry into Money Laundering BC.Posted Jun 16, 2022
by Shaheed Devji -
Rising Mortgage Rates Continue to Slow Market ActivityBCREA reports that a total of 8,214 residential unit sales were recorded by the Multiple Listing Service® in May 2022, a decrease of 35.1 per cent from May 2021.Posted Jun 13, 2022
by Brendon Ogmundson -
BCREA’s New Professional Services Manager Reflects on State of BC’s Real Estate SectorMeet BCREA’s new Professional Services Manager, Jim McCaughan, to learn more about his role, experience and what he believes BC Realtors should know moving forward.Posted Jun 09, 2022
by Pearl Zhou -
Success of Real Estate Consumer Protection Measures Hinges on Next Steps by BC Government and Real Estate RegulatorAfter reviewing the BCFSA consumer protection recommendations published on May 26, the BCREA urges the Ministry of Finance to carefully consider the next steps prior to implementing any of the measures proposed.Tags: A Better Way Home BC Financial Services Authority BCFSA Consumer Protection Cooling Off Period Pre-Offer Period Real Estate PracticePosted May 30, 2022
by British Columbia Real Estate Association -
Avoid Costly Mistakes Concerning the Foreign Buyers’ Tax #549A recent BC Supreme Court decision highlights the potential risks for REALTORS® working with buyers whose residency or citizenship status is unknown or has recently changed.Tags: Foreign Buyer’s Tax TaxationPosted May 26, 2022
by Oana Hyatt -
BC REALTORS® Advocate for Better Consumer Protections During 2022 Government Liaison DaysOn May 10 and 11, many REALTORS® from across BC convened to discuss government liaison issues and met with their local MLAs.Tags: A Better Way Home Cooling Off Period Development Approvals Housing Affordability Housing Supply Real Estate PracticePosted May 25, 2022
by Matt Mayers -
BCREA Standard Forms Housekeeping Amendments Spring 2022On May 16, 2022, BCREA released several standard forms housekeeping amendments through CREA’s WEBForms®. Here’s a summary of the standard forms and revisions that are in the housekeeping amendments.Posted May 18, 2022
by Jim McCaughan -
Resources to Help REALTORS® and Your Clients Navigate Extreme ClimateBe prepared for unexpected wildfires and flooding this season.Tags: Climate Change Preparedness Flood Protection Flood Risks Floodplain Mapping Wildfire Season WildfiresPosted May 13, 2022
by Pearl Zhou -
BC Home Sales Trending Toward Normal ActivityBCREA reports that a total of 8,939 residential unit sales were recorded by the MLS® in April 2022, a decrease of 34.9 per cent from a record April 2021.Posted May 12, 2022
by Brendon Ogmundson -
BC Real Estate Boards Named Finalists for 2022 Real Estate Land AwardsThe Real Estate Foundation of BC recently announced the finalists for its 2022 Land Awards recognizing outstanding projects and standout leaders in the province.Posted May 09, 2022
by Pearl Zhou -
New BC Real Estate Association Report Estimates Impacts of Increased Supply on BC Housing MarketBCREA’s latest Market Intelligence Report finds that policies designed to streamline the development cycle are effective at mitigating demand shocks and corresponding price increases.Posted May 03, 2022
by Brendon Ogmundson -
Federal Budget 2022: Taxation of Property Flipping, GST and Assignment Sales #548The proposed federal budget for 2022 has introduced a number of new rules relating to real estate, including rules to dampen speculation in the market. REALTORS® should be aware of these changes.Posted Apr 28, 2022
by Peter Borszcz -
Inflation and the Rising Trend of Underinsured Claims: Tips for REALTORS®There has been a growing trend of underinsured claims across personal and commercial property lines over the past two years due to inflation and the rise material costs.Posted Apr 28, 2022
by Pearl Zhou -
Five Things REALTORS® Should Know About Real Estate and the EconomyHere are five learning outcomes that Realtors should know about real estate and the economy from Economics for REALTORS®: How to Apply Economic Data and Trends to Help Your Clients.Posted Apr 19, 2022
by Mackenzie Smith -
Safety and Manufactured Homes Pilot Project: Resources for Sellers and BuyersThis pilot project is the collective effort of the BCREA, Association of Interior REALTORS® and Technical Safety BC.Tags: Manufactured HomePosted Apr 14, 2022
by British Columbia Real Estate Association -
Strong First Quarter for BC Housing Markets, But Rising Rates Loom LargeThe British Columbia Real Estate Associatio reports that a total of 11,463 residential unit sales were recorded by the MLS® in March 2022, a decrease of 24.1 per cent from a record March 2021.Posted Apr 12, 2022
by Brendon Ogmundson -
How the 2022 Federal Budget Impacts BC Real EstateOn April 7, Budget 2022 was introduced with a significant focus on the supply and affordability of housing in Canada.Tags: Blind Bidding Canadian Government Climate Change Preparedness Development Approvals Federal Budget Flipping Foreign Buyer’s Tax Foreign Buyers Housing Affordability Housing SupplyPosted Apr 08, 2022
by Matt Mayers -
Cybersecurity Tips for REALTORS®: Multifactor AuthenticationEnsuring your digital accounts are secure online prevents hackers from obtaining not just your sensitive information, but also private client information.Posted Apr 08, 2022
by Pearl Zhou