July ended with sales a respectable 17% above last July’s total, while new listings were about the same and inventory was up 12%. That was a substantial improvement from mid-month when sales were running about...
Late last year the provincial government severely reduced the ability of strata corporations to restrict residents based on their age. Adult-only buildings were banned, while seniors-only policies remained enforceable. Some buildings that were previously unrestricted...
Despite an epic rise in rates in the last year, the rates of mortgages in arrears have barely budged in BC. At 0.12% we are just barely off the all time lows of 0.10% from...
Hello readers! While the usual author of this blog is off on vacation, sipping a well-deserved beer, I’ve been tasked to fill in. And who am I, you ask? Well, I’m an AI language model...
The Bank of Canada hit resume on their rate hiking path in June, and may well continue with another rate hike this month. At the same time the bond market is up 65 bbps in...
Last fall on November 24th, the provincial government curtailed the ability of strata corporations to set limits on the age of their residents. Where previously strata corps were able to set a minimum age for...
Months of inventory is one of the best indicators of market balance, and this year I’ve spent a lot of time talking about how it has dropped from just below balanced level back to a...
There’s a new tool out there for monitoring indicators around mortgages, housing, and financial vulnerability on a national level. The Bank of Canada has a new page with indicators of financial vulnerability that shows...
Just a brief update, if you missed it you can read more about the current state of the market in the monthly update posted last Thursday. We know that with only 2.3 months of inventory,...
May continued the same market trend that we’ve been observing since February in Victoria. Sales are sluggish but strengthening as buyers adjust to higher rates, while new listings remain low. That kept inventory low, the...
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