My Blog - News, Updates and Statistics 

BC Home Sales to Exceed 100,000 Units for Third Consecutive Year  

(June 19, 2017, posted in Forecasts and Economic Update)

BCREA Housing Forecast - Tim Wray, Vancouver Real Estate, PromptonThe British Columbia Real Estate Association (BCREA) released its 2017 Second Quarter Housing Forecast today.

Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 10 per cent to 101,000 units this year, after reaching a record 112,209 units in 2016. Housing demand gained strength this spring, as some of the effects of federal and provincial policy efforts to ta... read more.

BCREA 2016 Third Quarter Housing Forecast Update

(August 25, 2016, posted in Forecasts and Economic Update)

BCREA, Tim Wray, Prompton Real Estate, VancouverThe British Columbia Real Estate Association (BCREA) released its 2016 Third Quarter Housing Forecast Update today.

Multiple Listing Service® (MLS®) residential sales in the province are forecast to climb 10.4 per cent to a record 113,000 units this year, eclipsing the previous record of 106,310 units in 2005. Housing demand is expected to moderate next year, with home sales declining nearly 8 per... read more.

BCREA 2016 First Quarter Housing Forecast Update

(January 28, 2016, posted in Forecasts and Economic Update)

BCREA Housing Forecast, Tim Wray, Prompton Real EstateThe British Columbia Real Estate Association (BCREA) released 2016 First Quarter Housing Forecast Update today.

Multiple Listing Service® (MLS®) rresidential sales in the province are forecast to edge back 6.2 per cent to 96,100 units this year, after reaching 102,517 units in 2015. Strong consumer demand is expected to push MLS® residential sales up by 2 per cent to 98,000 units in 2017.

Housing d... read more.

Canadian Government Change to Minimum Down Payment on Insured Mortgages

(December 11, 2015, posted in Forecasts and Economic Update)



Policy Change

The Canadian government announced today that it is increasing the minimum down payment on insured mortgages from 5 per cent to a two tiered system under which the minimum down payment on houses priced above $500,000 will remain at 5 per cent, but there will be an additional 10 per cent required on the portion of the house price above $500,000.

As an example, for a house priced at $700... read more.

BCREA 2015 Fourth Quarter Housing Forecast

(November 10, 2015, posted in Forecasts and Economic Update)

Tim Wray Prompton Real Estate, VancouverThe British Columbia Real Estate Association (BCREA) released its 2015 Fourth Quarter Housing Forecast Update today.

Multiple Listing Service® (MLS®) residential sales in the province are projected to surpass 100,000 units this year. This level of home sales will be the third strongest on record and mark the first year since 2007 that BC home sales exceed the ten year average.

After climbing 15 per... read more.

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