On Tuesday, the province announced new rules for developers and strata corporations to help protect owners from higher insurance costs due to neglected maintenance. The province has increased the minimum amount that developers and strata corporations must contribute to contingency reserve funds (CRF)  Currently, the minimum contribution is 5% of the strata’s annual operating expenses. […]

In a reflection of higher interest rates, Metro Vancouver prices are expected to come down next year as buyers and sellers adjust, expert suggests. The big story that closed out 2022 was rising interest rates and the impact of those rates on the commercial real estate sector, particularly as it relates to investment. By the […]

A total of 4,512 home sales took place across British Columbia in November, representing a significant decrease of 50.8% on an annual basis, according to the province’s top housing industry group. The British Columbia Real Estate Association (BCREA) added that the November activity level was approximately 30% below the historical average for that month. Sustained upward […]

Normalization, Beware the Ides of March March 2022 has brought a lot with it. It came in like a lion, however, has not gone out like a lamb. With civil unrest in Europe, rapid inflation, increasing interest rates and of course government intervention (on the wrong issues per usual) are making us all wonder where […]

A Leveling Market, Rising Interest Rates and the rise of Pre-Sale Opportunities While reviewing the February MLS statistics, our market is clearly beginning to level off and become more balanced. With inventory up in all sectors in comparison to last month. When we are comparing inventory by sector to February 2021 both townhomes and single-family […]

Let the Balancing Acts Begin.  Looking at the January data it is clear the Fraser Valley real estate market is beginning to balance.  Changes in the market typically begin with the single-family product type then trickle down to townhomes, and finally to condominiums. The single-family supply, prices and sales seem to be reaching an equilibrium […]