The Canadian real estate market, which experienced skyrocketing home prices for two consecutive years, eventually began to decline in the spring of 2022. Further Reading: Daily Hive MoneySense
The Canadian real estate market, which experienced skyrocketing home prices for two consecutive years, eventually began to decline in the spring of 2022. Further Reading: Daily Hive MoneySense
August 2023, Summertime Blues On September 7, 2023, the Bank of Canada (BOC) kept the prime rate at 5%, maintaining it since the last increase in mid-July. Despite the imminent future rate increases to combat inflation, Canadian consumers get a slight break for the back-to-school season. Strategic Homebuying Amidst Steady Rates With rates unchanged for […]
July 2023, More Market Uncertainty Bank of Canada’s Rate Hike In mid-July, the Bank of Canada (BOC) increased the prime interest rate to 5%, hinting at a potential further increase in September. Despite inflation dropping to 2.8% after the July hike and stabilizing at 3.3% by August, interest rates are expected to rise until inflation […]
June 2023, Uncertainty Bank of Canada’s Rate Hike In mid-July, the Bank of Canada (BOC) raised the prime rate to 5%, with a possibility of further increases in September. This occurs despite inflation stabilizing at 3.4% for May and June. Interest rates are expected to rise until inflation approaches the BOC’s goal of 2.5% by […]
May 2023, Changes Are Brewing While last month clearly had a strong sense of equilibrium, the month of May appears to bring changes to the real estate industry and market from every angle. Last month, the Bank of Canada did not move interest rates for two periods; however, they spoke of potential increases that materialized […]
April 2023, Balance April clearly represents balance or equilibrium that is slowly starting to weigh more toward the seller’s side. Clear signs of stabilization and confidence can be seen in the Fraser Valley real estate market. The Bank of Canada has continued to hold rates, helping to substantiate this new consumer confidence in our local […]
March 2023, Steady Eddy Sales Absorptions on the Rise This month’s statistics show significant increases in sales absorptions compared to the previous month, although most remain lower than the same time last year. Notably, the Bank of Canada has kept interest rates unchanged for two consecutive periods, with talk of rates potentially decreasing soon. Consequently, […]
Click here to learn more about living in the Growing Burquitlam Neighbourhood with Port & Mill 1, 2 & 3 bedroom condos in West Coquitlam
MLS® HPI Benchmark Price Activity Single Family Detached: At $1,390,600 the Benchmark price for an FVREB single-family detached home increased 1.9 per cent compared to February 2023 and decreased 21.7 per cent compared to March 2022. Townhomes: At $794,400, the Benchmark price for an FVREB townhome increased 2.3 per cent compared to February 2023 and decreased 14.5 […]
Westminster Abbey Westminster Abbey is a gorgeous ornate monastery that’s open to the public, and dates back to 1939. One of the reasons why the abbey is so popular with visitors and locals alike is the gorgeous trails that surround it, leading to a viewpoint that overlooks Mission — so you can head out on […]