Edward Krasnogolov Недвижимость в Ванкувере и окрестностях
9780 Cambie Road V6X 1K4 Richmond, BC, Canada

Vancouver overtakes Toronto as Canada’s most expensive city for renters https://www.livabl.com//vancouver-overtakes-toronto-canada

BC Housing Market Posts Strongest November on Record Vancouver, BC December 14, 2020. The British Columbia Real Estate Association (BCREA) reports that a total of 9,416 residential unit sales were recorded by the Multiple Listing Service (MLS) in November 2020, an increase of 42.1 per cent from November 2019. The average MLS residential price in BC set a record of $816,074, a 9.3 per cent increase from $746,310 recorded the previous year. Total sales dollar volume in Aug...ust was $7.68 billion, a 55.4 per cent increase over 2019. Home sales were once again unseasonably strong in November with several markets setting records for the month, said BCREA Chief Economist Brendon Ogmundson. While demand continues to be strong, the supply of listings has reached near-record lows in several parts of the province, with prices rising sharply as a result. Active listings were down close to 14 per cent year-over-year in November, which contributed to a 34.8 per cent sales-to-active listings ratio. Consequently, the provincial average price rose 9.3 per compared to this time last year with many markets seeing even stronger price growth. Year-to-date, BC residential sales dollar volume was up 32.3 per cent to $66.43 billion, compared with the same period in 2019. Residential unit sales were up 18.7 per cent to 85,625 units, while the average MLS residential price was up 11.4 per cent to $775,845.

November 2020 market insights video https://www.rebgv.org/n/november-2020-market-insights.html

No Bank of Canada Rate Change The Bank of Canada announced today that it is maintaining the benchmark rate, noting that Canada's economic recovery will continue to require extraordinary monetary policy support. The Bank says it will hold the policy interest rate at the effective lower bound until economic slack is absorbed so that the two per cent inflation target is achieved, which the Bank doesn't expect to happen until sometime in 2023. The next rate-setting day is January 20th, 2021.

Stats Centre Reports - November 2020 Metro Vancouver Houses and townhouses are in the better market than condos: http://members.rebgv.org//statscentre/Metro-Vancouver.pdf

REBGV Stats - November 2020 November home sales outpace seasonal norms and long-term averages Housing demand in Metro Vancouver* continues to outpace historical averages with November sales eclipsing 3,000 for the first time since 2015. ...Continue reading

October 2020 Market Insights VIDEO https://www.rebgv.org/ne/october-2020-market-insights.html

Vancouver’s Empty Home Tax will rise to 3% in 2021 https://www.livabl.com//vancouvers-empty-home-tax-rise-3-2

Economic Recovery and Low Rates Drive Housing Market in 2021 BCREA 2020 Fourth Quarter Housing Forecast Vancouver, BC November 4, 2020. The British Columbia Real Estate Association (BCREA) released its 2020 Fourth Quarter Housing Forecast today. ... Multiple Listing Service (MLS) residential sales in the province are forecast to rise 16.9 per cent to 90,450 units this year, after recording 77,350 residential sales in 2019. MLS residential sales are forecast to increase 9.7 per cent to 99,240 units in 2021. The housing market had a record fall season and prices are rapidly rising as pent-up demand floods into an under-supplied market, said Brendon Ogmundson, BCREA Chief Economist. As that pent-up demand fades, sales will likely come down from their current record pace, albeit to a still robust level of activity as record-low mortgage rates and a recovering economy continue to drive sales. On the supply side, active listings remain low due to hesitation on the part of sellers to list during the pandemic. Some additional supply may come online following the end of mortgage deferral programs, but given the tightness of market conditions, that supply is unlikely to be disruptive. We are forecasting the provincial MLS average price to finish the year up 9.9 per cent and to increase a further 2.6 per cent in 2021.

REBGV Stats - October 2020 Home sale and listing resurgence extends into the fall Home sale and new listing activity remained at near record levels across Metro Vancouver in October....Continue reading

Bank of Canada Interest Rate Announcement - October 28, 2020 The Bank of Canada held its overnight rate at 0.25 per cent this morning, a level it considers its effective lower bound. The Bank is also continuing its quantitative easing (QE) program, though re-calibrated to target longer-term bonds and slightly scaled back from purchasing $5 billion per week in Government of Canada bonds to $4 billion per week. The Bank also reiterated forward guidance on future interests move...s, committing to holding the policy rate at 0.25 per cent until slack in the economy is absorbed and inflation is sustainably trending at 2 per cent. In the statement accompanying the decision, the Bank noted that the Canadian economy is recovering, though at a highly uneven rate, with the pandemic particularly affecting low-income workers. Overall, the Bank expects a decline in Canadian real GDP of 5.5 per cent this year, before growing 4 per cent next year. Inflation is expected to remain below its 2 per cent target through 2022. With the Bank committing to holding its policy rate at 0.25 per cent until slack in the economy is absorbed, and continuing its quantitative easing program of asset purchases, Canadian mortgage rates should remain at current historical lows for quite some time. Given the Bank's forward guidance on interest rates and its projection for inflation, those low rates are anticipated to remain in place until 2023, providing a significant boost to an already strong BC housing market.

BC home price gains are accelerating as supply remains tight https://www.livabl.com//bc-home-price-gains-accelerating-s