Seasonality, interest rates temper sales in the Fraser Valley

Posted on Aug 03, 2023

August 3rd 2023

SURREY, BC – After five months of successive increases, real estate sales in the Fraser Valley dropped in response to a combination of continued rising interest rates and the summer sales cycle.

The Fraser Valley Real Estate Board processed 1,368 sales in July on its Multiple Listing Service® (MLS®), a decrease of 29.3 per cent below...

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Strong sales push Metro Vancouver home prices past the rate hike in July

Posted on Aug 02, 2023

VANCOUVER, BC 
 August 2, 2023 –

 Home prices across all home types in Metro Vancouver rose again in July, as strong sales figures continue to push up against low levels of housing inventory in the region.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,455 in July 2023, a 28.9 per cent in...

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Bank of Canada raises policy rate 25 basis points, continues quantitative tightening

Posted on Jul 12, 2023

FOR IMMEDIATE RELEASE
Media Relations
Ottawa, Ontario
July 12, 2023

The Bank of Canada today increased its target for the overnight rate to 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening.

Global inflation is easing, with lower energy prices and a decline in goods price inflatio...

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New Regulations Prohibit Purchase of Residential Property by Non-Canadians

Posted on Dec 23, 2022

DATE: December 23, 2022

DISTRIBUTION: Real Estate Licensees, Real Estate Development Industry, Mortgage Brokers, Credit Unions, and Interested Parties
Advisory Number: 22-050

Purpose
The purpose of this Advisory is to provide regulated entities with a summary of the federal government’s Regulations, released on December 21, 2022, respecting the Prohibi...

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