The Canadian Mortgage and Housing Corporation (CMHC) has implemented new underwriting criteria (eligibility requirements) to apply for homeowner transactional and portfolio mortgage insurance. Introduced earlier this summer, these new adjustments from CMHC come as a precaution while the COVID-19 pandemic continues to impact consumers in the real estate market and many other aspects...

The BCREA Economics team has created the COVID-19 Reopening Dashboard to help REALTORS® monitor the evolution of the BC economy as the province gradually reopens. This dashboard focuses on the sectors and activities that have been most significantly impacted by the pandemic and the province's subsequent state of emergency.

To monitor the province's progress toward a "new normal," we benchmark...

Not surprisingly, the COVID-19 pandemic had a devastating impact on the number of transactions in the Metro Vancouver housing market.

This morning, the Real Estate Board of Greater Vancouver announced a 56.1 percent decline in sales in April compared to the previous month.

Sure, you can afford your home now, but what if mortgage rates go up?

Low interest rates and mortgages have been a fact of life in Canada for some time now. At the time of publication, the 5-year average mortgage rate has hovered around 5% for nearly a decade. This is a far cry from late 1981 when mortgage rates were as much as 21%.

New mortgage rules

In 2017, the Office of the Superintendent of Financial...

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Summary Findings: 

• While it’s unknown how the unfolding COVID-19 outbreak will impact the economy in the long-term, BC is facing a sudden stop in economic activity with little guidance to when things may return to normal. 
• Based on our scenario analysis, BC home sales and prices will likely face declines in the spring...

The commercial real estate market in the Lower Mainland saw fewer sales and lower dollar volumes in 2018 compared to recent years.

There were 2,266 commercial real estate sales in the Lower Mainland in 2018, a 13.6 per cent decrease from 2,624 sales in 2017, according to data from Commercial Edge, a commercial real estate system operated by the Real Estate Board of Greater Vancouver (REBGV).

The total...

Housing Starts

The annual pace of housing starts – new housing construction projects – slowed, according to Canada Mortgage and Housing Corporation (CMHC), but dropped less than what was expected for the beginning of the year.

It’s too early to say where the Canadian housing market is heading. But we can start tracking its direction by looking at some significant January figures.

Luxury condo previously listed at $17.3 million was just put back on the market for $12,995,000

View full listing details here. 

The penthouse of this iconic co-op building right on the beach of Vancouver's English Bay features  2,740-square-foot, two-bedroom-plus-den home was originally listed at a jaw-dropping $17.3 million in October 2018, ranking in as Vancouver's second...