Posts tagged with “”

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Housing Market Update – May 2024

Watch BCREA Chief Economist Brendon Ogmundson discuss the April 2024 statistics.

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New Listings Bounce Higher in April

BCREA reports that 7,569 residential unit sales were recorded in MLS® systems in April 2024, an increase of 1.5 per cent from April 2023.

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Markets at a Glance

These 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.

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It’s Finally Here: The Short-Term Rental Accommodations Act #572

Explore the impact of the Short-Term Rental Accommodations Act and its implications for REALTORS®, buyers, and sellers.

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A Consumer’s Guide to Home Energy Retrofits

Retrofits are a smart investment for homeowners, offering a range of benefits beyond just lowering energy costs. Learn more about them here!

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Housing Monitor Dashboard

The BCREA Economics team has created the Housing Monitor Dashboard to help REALTORS® monitor BC’s housing market.

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BCREA Nowcast

The BCREA Nowcast estimate of provincial economic growth (expressed as year-over-year growth in real GDP) for February is 2.2 per cent.

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Get to Know the New BCREA Public Website

Discover the exciting features on our brand-new public website and BCREA Access.

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BCREA 2024 Second Quarter Housing Forecast: Slow Start, Strong Finish: BC Housing Market Expected to Rebound

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Building Hope: Canada’s Housing Plan in Budget 2024

Canada’s federal budget 2024 unveiled an ambitious Housing Plan to address the housing crisis, and improve attainability.

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Pent-up Demand Continues to Build as Sales Remain Slow

BCREA reports that a total of 6,460 residential unit sales were recorded in MLS® systems in March 2024, a decline of 9.5 per cent from March 2023.

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Everything You Wanted to Know About Short-Term Rental Changes #571

The BC Government introduced the Short-Term Rental Accommodations Act, prompting questions among REALTORS® and homeowners, today we explore the most common ones.

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BCREA Public Website and BCREA Access Get a New Look

Discover the exciting features coming to BCREA’s public website and BCREA Access on April 30, 2024.

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BCREA Board of Directors 2024-2025: Tim Ayres Leads Provincial Real Estate Organization

BCREA is pleased to announce that Sooke REALTOR® Tim Ayres has been elected as its 2024-2025 Chair at the BCREA Annual General Meeting on March 26, 2024.

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BC REALTORS® Advocate for a Pre-Offer Period

BC REALTORS® gathered from March 10-12 in Victoria to address government liaison issues and meet with local MLAs during BCREA’s GL Days.

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Mortgage Rate Forecast

Expectations of financial markets for the timing and magnitude of monetary easing by the Bank of Canada shifted substantially toward more aggressive rate cuts on the horizon.

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Provincial Housing Market Relatively Calm Heading into Spring

BCREA reports that a total of 5,497 residential unit sales were recorded in MLS® systems in February 2024, an increase of 15.3 per cent from February 2023.

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More Trouble Than It Is Worth – Analyzing the Impacts and Consequences of the Provincial Flipping Tax

In this Market Intelligence, we will look at the potential impact of this policy on the BC housing market and draw out some of its potential consequences.

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From Foundation to Finish – Understanding the Nuances of Owner-Built Homes for REALTORS® #570

Understanding the nuances of purchasing newly built homes from developers, residential builders, or owner-builders is crucial for both buyers and REALTORS®.

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Commercial Leading Indicator Jumps in Fourth Quarter 2023

In the fourth quarter, the BCREA Commercial Leading Indicator (CLI) rose 3.8 points to 149.5 , and the six-month moving average rose to 147.4

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BC Government Announces New Housing Measures in 2024 Budget 

Finance Minister Katrine Conroy unveiled the government’s Budget 2024, featuring new housing measures such as the BC Home Flipping Tax and various property transfer tax exemptions.

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Housing Market Activity Picks Up to Start 2024

BCREA reports that a total of 3,979 residential unit sales were recorded in MLS® systems in January 2024, an increase of 29.4 per cent from January 2023.

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Under the Covers (of Snow) – Winter Real Estate Transaction Considerations #569

Real estate deals occur around the clock throughout the year. Yet, when transactions take place in the winter, both buyers and sellers, along with their REALTORS®, need to think about a few extra things.

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The 2023 Housing Market was Defined by High Rates and Slow Sales

BCREA reports that 73,109 residential unit sales were recorded by MLS® in 2023, a 9.2 per cent decline from 80,506 units sold in 2022.

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Powers of Attorney: A Minefield for REALTORS® #568

REALTORS® should exercise extreme caution when dealing with clients using powers of attorney for real estate transactions.

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2024 BC Property Assessments 

The 2024 BC Property Assessments are now available online through BC Assessment, and homeowners can expect to receive their notices in the mail by the end of January 2024.

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Standard Contract of Purchase and Sale Clauses: Common Misunderstandings and Confusions – Part Two #567

Understanding the standard Contract of Purchase and Sale (CPS) is essential in real estate, but it can become a challenge due to certain clauses that might create confusion for buyers, sellers, and REALTORS® alike.

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Softening Home Sales but Prices Remain Firm Across BC

BCREA reports that a total of 4,630 residential unit sales were recorded in MLS® systems in November 2023, an increase of 2.2 per cent from November 2022.

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The Province Goes Big on Housing Policy – A First Look

The provincial government has introduced several pieces of housing legislation aiming to fulfill the Homes for People plan priorities.

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BC Markets Finding Balance at Low Levels of Activity

BCREA reports that a total of 5,373 residential unit sales were recorded in MLS® systems in October 2023, an increase of 1.8 per cent from October 2022.



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