Labour Force Survey – May 11, 2012
BCREA ECONOMICS NOW Labour Force Survey – May 11, 2012 Canadian employment rose by 58,000 jobs in April following a blockbuster March in which employment increased by 82,000. Despite large job gains in the past two months, the national unemployment rate edged up 0.1 points to 7.3 per cent as more Canadian were looking for ...read more
Consumer Price Inflation and Interest Rates
BCREA ECONOMICS NOW – Canadian Consumer Price Inflation – April 20, 2012 Canadian CPI inflation registered 1.9 per cent (year-over-year) in March, a 0.7 point decline from February inflation of 2.7 per cent. The rise in consumer prices was slowed by more moderate growth in food and energy prices in March. The Bank of Canada’s ...read more
Canadian Housing Starts – April 10, 2012
Canadian housing starts jumped 5 per cent in March to a seasonally adjusted annual rate (SAAR) of 215,600 units. The increase in starts primarily resulted from strong growth in multiple starts in Ontario and the Prairies. New home construction in BC urban centres fell 28 per cent from February 2012, registering 20,900 starts (SAAR) in ...read more
Labour Force Survey – April 5, 2012
BCREA ECONOMIC NEWS – Labour Force Survey – April 5, 2012 Canadian employment increased by an incredible 82,000 jobs in March, making up for four consecutive months of flat payrolls. The blockbuster jobs gains in March pushed the national unemployment rate down 0.2 points to 7.2 per cent. Unfortunately, British Columbia did not share in ...read more
BCREA ECONOMICS NOW – US Housing Starts – March 20, 2012
BCREA ECONOMICS NOW US Housing Starts – March 20, 2012 US housing starts declined slightly in February, though January new construction was revised higher. Total housing starts were at a seasonally adjusted annual rate (SAAR) of 698,000 last month, down 1 per cent from 706,000 (SAAR) in January. Building permits, an indicator of future home ...read more
SALT SPRING ISLAND REAL ESTATE IN 2011 & BEYOND …..
PROPERTY LINES – Reprinted from the Drifwood newspaper January 11, 2012 - Property Lines column contributor Tom Navratil is a Royal LePage Salt Spring Realtor®, saltspringhomes@gmail.com The 2011 Real Estate year on Salt Spring Island still ended on a slower and lower note, with total of 168 properties changing hands (down from 195 in 2010), the ...read more
Home sales climb higher outside of Vancouver
Home Sales Climb Higher Outside Vancouver Vancouver, BC – November 15, 2011. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential unit sales in the province rose 6.5 per cent to 5,865 units in October compared to the same month last year. The average MLS® residential price was up 2.6 ...read more
Bank of Canada Interest Rate Announcement – October 25, 2011
As was universally anticipated, the Bank of Canada opted to hold its target overnight rate at 1 per cent this morning. Ongoing uncertainty in the Euro-zone continues to weigh heavily on the Bank’s outlook. In its statement accompanying the interest rate decision, it was noted that the bank is now projecting a contained Euro-crisis, but ...read more
2011 – Q2 Royal LePage National House Price Survey
TORONTO, July 7, 2011 – Q2 Royal LePage national HOUSE PRICE SURVEY. High Second Quarter House Prices Conceal Early Signs of A Moderating Market. Slower price appreciation expected in the second half of 2011; National average house price forecast to end the year 7.7 per cent higher than 2010. Canada’s residential real estate market saw ...read more
Salt Spring Real Estate update to June 30, 2011
It looks like 2011 real estate market on Salt Spring Island may follow the trend of the last 3 years in terms relative stability and low volume of sales. Since 2008 we saw the annual number of sales dip under 200. In an average year this number is normally in the mid 200s and in ...read more
2011 to May 31 SSI mini Market Report
The market appears stable even if slow in the last 2 – 3 years. Salt Spring Island had 70 sales in 2011 to May 31 (5 month period), last year the number was 76, only marginally higher. The average asking and sale prices for the same period remained almost the same but the median price ...read more
Getting back to normal – interest rates
by Brendon Ogmundson, BCREA Economist reprinted by permission © BCREA The severity of the 2008 financial crisis necessitated that global central banks, including the Bank of Canada, bring interest rates down to previously unthinkable levels. As the crisis dissipated and Canadian output and employment began to slowly recover out of recession, the Bank of Canada ...read more
SALT SPRING ISLAND REAL ESTATE in 2010
January 2011 SALT SPRING ISLAND REAL ESTATE - HOW DID WE DO IN 2010? Last year a total of 195 properties changed hands on the Island. Though a moderate sales volume at best and the 3rd consecutive year with sales volumes under 200 (the lowest since year 2000), last year nevertheless was an improvement from the ...read more