Competition amongst home buyers is putting upward pressure on home prices across Metro Vancouver’s* housing market. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,727 in February 2021, a 73.3 per cent increase from the 2,150 sales recorded in February 2020, and a 56 per cent…
In the first month of 2021, Metro Vancouver’s housing market continued the pattern set at the end of last year with home sale activity outpacing the supply of homes listed for sale. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,389 in January 2021, a 52.1…
Canadian real estate surprised everyone in 2020. While the markets closed the year with red-hot, record-breaking activity, the year brought much uncertainty, financial upheaval, renewed forecasts of a bursting housing bubble, and other news that will likely continue to impact market activity in 2021. With the first week of the new year behind us, here’s…
The Bank of Canada, this morning, released its January Monetary Policy Report (MPR), showing they expect to keep overnight interest rates at its “effective lower bound” of 0.25% until 2023 (see chart below). To reinforce this commitment and keep interest rates low across the yield curve, the Bank will continue its Quantitative Easing (QE) program–buying…
Hope you are having a fantastic start of the year! If you are a Vancouver property owner, the deadline for the declaration of your Empty Homes Tax is on February 2, 2021. Make sure that you hit the deadline! Please note that the City’s Empty Homes Tax is separate from the provincial government’s Speculation and…
Motivated by low interest rates, last year people across the U.S. were on the move to wherever their telecommuting hearts desired. But will the trends continue in 2021? Those looking to buy or sell a home in early 2021 might want to keep in mind the three “I’s”: Interest rates, inventory and internet access (and…
Strong December activity brought Metro Vancouver’s* 2020 home sales total in line with the region’s long-term annual average. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 30,944 in 2020, a 22.1 per cent increase from the 25,351 sales recorded in 2019, and a 25.7 per cent…
RE/MAX earned praise and recognition from Forbes, REAL Trends, Entrepreneur Magazine, HousingWire and more. We can all agree that 2020 was like one big FSBO deal: The year started out strong and then everything turned on a dime. Despite the pitfalls and uncertainties, RE/MAX agents powered through – many having their best professional years to…
This Christmas, so many traditions have needed to change because of Covid-19. Why not change up your Christmas crafting projects with one of 2020s most sought-after household staple, the coveted toilet paper roll! Here are a few craft ideas for Christmas decorations using the toilet paper roll! The first task on a traditional Advent calendar…
For the 12th straight year, RE/MAX ranks as the No. 1 real estate franchise brand in the annual Franchise Times Top 200 list, based on global sales. The honor reinforces the enduring quality behind the RE/MAX brand name. Coming in at No. 16, RE/MAX joins household names such as McDonald’s, 7-Eleven and Taco Bell at the top…
For the 12th straight year, RE/MAX ranks as the No. 1 real estate franchise brand in the annual Franchise Times Top 200 list, based on global sales. The honor reinforces the enduring quality behind the RE/MAX brand name. Coming in at No. 16, RE/MAX joins household names such as McDonald’s, 7-Eleven and Taco Bell at the top…
Delayed by pandemic-related lockdowns, summer’s peak homebuying season pushed into fall. In fact, according to the RE/MAX National Housing Report for September, closings rose 21.1% from a year ago and on average, homes sold in a mere 39 days. Meanwhile, the inventory of homes for sale plummeted to an all-time low in September 2020. Sinking below…
The phrase “new normal” is being applied to anything and everything right now, including to define what daily life in 2020 looks like amid COVID-19. From wearing face masks in public to socializing from six feet away, society is adapting to the rather unusual circumstances. And like with all industries, there’s also a new normal…
The strength of the Canadian real estate market has continued to prove itself time and time again during the pandemic. While we’re not out of the woods yet, we are expecting continued growth for the duration of 2020, with an active market for the foreseeable future and balanced conditions at the national level into 2021.…
Today, the Province of B.C. announced it has awarded a contract to the Broadway Subway Project Corporation (an Acciona-Ghella joint venture) to design, build, test and integrate the SkyTrain extension. The project is still on schedule for the new line to open in 2025. We will have more information about construction and timing after the…
It’s the season of the long hike, the slow beach stroll, the idle time when you can finally just talk and think for at least a little while. Even though vacations look a lot different this summer, there are ways to escape our new daily routines. No time like the present, then, to put a…
Canadian Real Estate Market Sentiment 56 per cent of Canadians who are planning to engage in the real estate market say they expect to do so within less than a year Almost half (44 per cent) of Canadians believe that the real estate market will bounce back to the strength it was before COVID-19 by…
Canadian real estate has been a tough nut to crack for some homebuyers, and those with less than 20 per cent as a down payment now face another challenge, with Canada Mortgage and Housing Corp.’s (CMHC) tighter qualification rules for borrowers of high-ratio mortgages. This move is in response to the global pandemic that has left many…
RE/MAX Canada releases insights in key global markets amidst the COVID-19 crisis Canadian Real Estate Market Sentiment 56 per cent of Canadians who are planning to engage in the real estate market say they expect to do so within less than a year Almost half (44 per cent) of Canadians believe that the real estate…
