In 1972, with a population of 22 million, Canada built 232,200 new homes. Fifty years later in 2022, with a population of 39 million, fewer than 220,000 new homes were built. We have not been able to move the needle on supply in two generations. In fact, we’re losing ground.
Home improvement scams became the #1 riskiest scam type reported in Canada in 2022, according to a new report from the Better Business Bureau. Reports of home improvement scams by Canadians increased 51.2% in 2022, up from 4.1% of reports to 6.2% in 2022. People also lost more money to this scam type, with a median dollar loss of $1,900, up 187.4% from $661 in 2021.
House prices in the Fraser Valley posted a slight but positive bump in February after nearly a year of month-over-month decreases. Similarly, sales, though still trending lower than normal, also recorded their first monthly gain since October.
Homebuyers in B.C. now have better protection in the real estate market as the homebuyer protection period takes effect on Tuesday, Jan. 3, 2023.
The Home Owner Grant will continue to cover 92% of residential properties in B.C. with the threshold set at $2.125 million for 2023.
Safe Surrey Coalition-led City Council holds line for taxpayers while making huge community investments
Robust demand for Fraser Valley real estate continued in November, with the Fraser Valley Real Estate Board (FVREB) recording the region’s second-highest volume of sales of all property types for the month – second only to November 2020.
Market activity in the Fraser Valley – both sales and new listings – softened in July, however buyers continued to significantly outnumber sellers resulting in inventory reaching the lowest for the month since 1981.
Every Canadian deserves a safe and affordable place to call home.
Sales on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) remained robust in June however, for the first time since last September, monthly sales did not break a historical record.