BC Real Estate Association Housing Market Update (August 2013)
August 15th, 2013
Blog by Kevin Wong
August 15th, 2013
After Decades of Stoking Mortgages, Ottawa in a Mess of its Own Making
August 14th, 2013
It has been a no-brainer for the banks. The program was so popular that lenders had used up nearly 80 per cent of this year’s available government guarantee by the end of July – even as the real estate market slowed.
But the episode highlights a troubling upshot of the real estate boom.
The federal government has had a major role in stoking the rapid expansion of mortgage credit i ...
July Home Sales Highest Since 2009
August 14th, 2013
The British Columbia Real Estate
Association (BCREA) reports that a total of 7,650 residential sales were
recorded by the Multiple Listing Service® (MLS®) in BC for July, up 18
per cent from July of 2012. Total sales dollar volume was 32.8 per cent
higher than a year ago at $4.09 billion. The average MLS® residential
price in the province was $534,360, up 12.5 per cent from July 201 ...
CMHC Cap on Mortgage-Backed Securities to Raise Home Costs, Cool Market
August 7th, 2013
Mortgages for Metro Vancouver’s prospective homebuyers could become more expensive to obtain as Canada’s national housing agency moves to limit the amount of mortgage-backed financing it is prepared to guarantee for mortgage lenders.
Canada Mortgage and Housing Corp. has notified mortgage lenders, including banks and credit unions, it will restrict each of them to a maximum of $350 ...
July Home Sale Activity Increases in Greater Vancouver
August 2nd, 2013
Sunny
weather did not slow the pace of home sale activity in July. Last month
was the highest selling month of the year in Greater Vancouver and the
highest selling July since 2009.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,946 on the Multiple Listing Service® (MLS®) in July 2013. This represents a 40 ...