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Realmarket News

Why real estate doomsayers continue to be wrong

Instead of toppling after Finance Minister Jim Flaherty tightened mortgage-lending standards last year for the fourth time since 2008, Canada’s housing market appears to have stabilized and it continues to flex its resilient muscles as shown in the national housing statistics released monthly by the Canadian Real Estate Association (CREA).


Bank of Canada is getting with reality on inflation: There is none

On Oct. 23, the Bank of Canada did the expected and maintained its target for the overnight rate at 1 per cent. The decision in itself caused no surprise whatsoever. However, the wording of the decision was sufficient to cause the Canadian dollar to fall half a cent against its U.S. counterpart following the announcement – and it continued to fall another 1.5 cents in the week since.


Stability to prevail in B.C. housing market, banker says

Retiring VP of Scotiabank in B.C. and the Yukon predicts steady demand for homes in Canada's Asia Pacific Gateway; sees strong growth in Surrey, Pitt Meadows. When David Poole first came to Vancouver in 2006 as Scotiabank's senior vice-president for B.C. and the Yukon region, he quickly discovered how dynamic the Western Canadian market was. "I was used to southern Ontario, London specif...

18 December, 2014
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White Rock Market Stats: November 2013
Fraser Valley Home Sales in October Consistent With 10-Year Average

(Surrey, BC) – An increase in sales and a decrease in new listings last month resulted in Fraser Valley’s real estate market returning to typical activity levels for October – on par with that month’s 10-year average.

Ron Todson, President of the Fraser Valley Real Estate Board, says, “We’ve had a great summer and good early fall, but it’s important to remind everyone of the context. The last four months of 2012 were amongst the slowest for our real estate market in the last 15 years. “What we’re witnessing is a return to a balanced residential market indicated by prices remaining unchanged or down slightly compared to a year ago, stable inventory levels and the average length of time to sell a home is about two months.”

In October, the benchmark price of single family detached homes in the Fraser Valley was $551,400 a 0.8 per cent increase compared to $546,900 during the same month last year. For townhouses, the benchmark price was $295,500, a decrease of 0.5 per cent compared to $297,100 in October 2012 and the benchmark price of apartments was $199,500, 2.2 per cent less than in October 2012 when it was $203,900. In October, the Board’s listing inventory was 9,047, a decrease of 10 per cent compared to the 10,051 active properties that were available in October of 2012.


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