Any downturn in British Columbia’s housing sector will have serious consequences for the provincial economy, finds a new essay released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.
Consumer demand for real estate in the Fraser Valley remained robust for the fourth consecutive month, with overall sales and new listings reaching record-breaking numbers in September.
The Fraser Valley Real Estate Board processed 2,231 sales on its Multiple Listing Service® (MLS®) in September, an increase of 66.1 per cent compared to the same month last year and an increase of 9.4 per cent compared to August 2020. This is the highest recorded sales for September in the history of FVREB.
The Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) saw the second highest number of property sales and the highest number of new listings in August within the last two decades, when 2,298 sales were recorded in August 2005.
At a time when engineers, designers and builders are looking for eco-friendly solutions, a centuries-old building material — wood — is increasing in popularity.
Can you imagine a wooden skyscraper? It’s not as far-fetched as you may think. And a growing number of architects, engineers and manufacturers in British Columbia are keen to prove it.
In May, Fraser Valley listings and property sales started to bounce back as REALTORS® helped their clients adjust to the new, necessary safety measures required to buy and sell a home during the provincial state of emergency due to COVID-19.
The most recent report of Fraser Valley Real Estate Board (FVREB) indicates COVID-19 has put the market on pause, as realtors and the public are following social distancing and following to health authority rules and government guidelines on the pandemic.
Condo prices declined for the first time since the third quarter of 2014, High inventories across all housing types added downward price pressure, Home buyers and sellers adapting to the market’s new price norms
We are very pleased that five real estate organizations have come together to help fight money laundering in British Columbia. This commitment by real estate professionals to collaborate and develop best practices will go a long way towards getting dirty money out of the real estate market, protecting consumers and helping industry professionals improve their knowledge and regulatory compliance.
Years of inaction on the B.C. housing crisis led to sky-high housing prices, drove people out of our province, hurt our communities, and hurt the businesses that create good jobs across the province.
