First Time Homebuyers’ Program Changes

& BC Real Estate Update, Blog Post.

On the heels of multiple government announcements in 2016 and early 2017, the British Columbia Real Estate Association (BCREA) welcomes the latest: an increase in the Property Transfer Tax exemption threshold for first-time buyers, announced in Budget 2017. The increase, to $500,000 from $475,000, takes effect today. BCREA appreciates this government’s attention to the needs […]

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Economy, Population Growth Support Housing Demand Through 2018

& B.C. Real Estate, BC Real Estate Update, Blog Post.

Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 14.1 per cent to 96,345 units this year, after reaching a record 112,209 units in 2016. A moderation trend that began early in 2016, combined with tougher federal government mortgage qualification rules and the foreign buyer tax in Vancouver, is expected to […]

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BC Home Sales Post Record Year

& B.C. Real Estate, BC Real Estate Update, Blog Post.

The British Columbia Real Estate Association (BCREA) reports that a record 112,209 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in 2016, an increase of 9.5 per cent from the previous year. Total sales dollar volume was a record $77.6 billion, up 18.8 per cent from 2015. The average MLS® residential price […]

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BC Home Sales Trend Toward 10 Year Average

& B.C. Real Estate, Blog Post.

The British Columbia Real Estate Association (BCREA) reports that 6,419 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in November, down 20.1 per cent from the same month last year. Total sales dollar volume was $4.02 billion in November, a decline of 25.2 per cent compared to the previous year. The average […]

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BC Commercial Leading Indicator Continues to Push Higher

& BC Real Estate Update, Blog Post.

The BCREA Commercial Leading Indicator (CLI) increased 0.48 index points to 122.7 in the second quarter of 2016, in spite of a modest pull-back in economic activity throughout the third quarter. The CLI index is up 2.4 per cent compared to the third quarter of 2015. “Job growth in key commercial sectors and robust consumer […]

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BC Home Sales to Decline in 2017 from Record Pace

& B.C. Real Estate, Blog Post.

The British Columbia Real Estate Association (BCREA) released its 2016 Fourth Quarter Housing Forecast today. Multiple Listing Service® (MLS®) residential sales in the province are forecast to climb 11 per cent to a record 113,800 units this year, eclipsing the previous record of 106,310 units in 2005. Less robust economic conditions combined with government policy […]

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