Richard Alexander

Below average home sales allow inventory to inch upwards

Posted on Mar 02, 2023

VANCOUVER, BC – March 2, 2023 –

February listing data show a continued reluctance among prospective home sellers to engage in Metro Vancouver’s* housing market, leading to below-average sales activity. With sales remaining well-below historical norms, the number of available homes for sale in the region have continued inching upwards.

The Real Estate...

Signs of stability in Fraser Valley create opportunities for home buyers and sellers

Posted on Mar 02, 2023

SURREY, BC

— House prices in the Fraser Valley posted a slight but positive bump in February after nearly a year of month-over- month decreases. Similarly, sales, though still trending lower than normal, also recorded their first monthly gain since October.

The Fraser Valley Real Estate Board (FVREB) processed 898 sales on its Multiple Listing Servi...

Bank of Canada increases policy interest rate by 25 basis points, continues quantitative tightening

Posted on Jan 25, 2023

The Bank of Canada today increased its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening.

Global inflation remains high and broad-based. Inflation is coming down in many countries, largely reflecting lower energy prices as well as improvement...

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...