October 22, 2010
On behalf of RE/MAX of Western Canada, I would like to congratulate you on your outstanding individual performance on completed transactions for the month of September.
We appreciate the hard work and dedication to your clients. Sales Associates like yourself add to our image and give meaning to our trademark "RE/MAX. Outstanding Agents. Outstanding Results".
Wishing you continued success for 2010.
RE/MAX of Western Canada (1998), LLC
Vancouver, BC – November 10, 2010. The British Columbia Real Estate Association (BCREA) released its Fall Housing Forecast 2010 today.
"Consumers are responding to a double-dip in mortgage interest rates," said Cameron Muir, BCREA Chief Economist. "While housing demand waned in the province through the spring and summer, the added purchasing power from low borrowing costs combined with gradual improvement in the BC economy has trended home sales higher in recent months."
"A moderate increase in BC home sales is expected next year coinciding with employment and population growth," added Muir. "However, the 79,700 unit sales that are forecast for 2011 are well below the ten-year average of 85,500 units" A record 106,300 MLS® residential sales were recorded in 2005.
The average MLS® residential price is forecast to climb 7 per cent to $498,500 this year and remain relatively unchanged in 2011, albeit declining by 1 per cent to $495,600.
FOR IMMEDIATE RELEASE - From the desk of Amalia Liapis
BC housing markets are returning to typical post-recession demand patterns. The dramatic rebound in consumer demand during 2009 and subsequent decline during the first two quarters of 2010 has set the stage for a gradual increase in home sales during the fall and through 2011. Residential unit sales through the Multiple Listing Service in BC are forecast to decrease 7 per cent to 79,500 units in 2010, before climbing 5 per cent to 83,400 units in 2011.
A slower than expected normalization of interest rates will temper erosion of affordability as economic output posts more moderate growth for the balance of this year and through 2011. Stronger corporate profits are triggering employment growth and a reduction in the unemployment rate is now underway.
A larger inventory of homes for sale has created the most favourable supply conditions for home buyers in more than a year. While tighter mortgage qualifications for low equity home buyers has negatively impacted demand, more borrowers are now channelling into 5-year fixed mortgages where discounted rates increase purchasing power.
The average residential price is forecast to increase 6 per cent to $492,800 this year and edge down 1 per cent to $489,500 in 2011. Some softness in home prices is expected through the summer months in most regional markets. However, inventory levels peaked in May and will likely edge lower in the coming months, leading to more balanced conditions in the fall with a commensurate firming of home prices.
After a sharp pull back in new home construction last year, home builders are gradually increasing production to meet demand. BC led the country in population growth over the last three quarters and with the inventory of complete and unoccupied units expected to decline, builders are adjusting production to match supply with household formation.
Posted in: Vancouver West Real Estate
I have sold a property at 15 - 17 & 1 - 9 West Cordova in Vancouver.
Categories: 1940s | 2011 | 2012 | 2013 | 2014 | Active Listings | Affordability | Affordable Housing | Amalia Liapis | Apartment | Arbutus | Assignments | Average Price | Awards | Bakery | Balanced Budget | Bank of Canada | banking | BC | BC Building Code | BC Government | BCREA | Beauty Salon | Benchmark | Benchmark Price | Bonds | Boundary Road | Bowen Island, Bowen Island Real Estate | Brentwood Park | Brighouse, Richmond Real Estate | British Columbia | Budget | Budget Friendly | Budget Renovation | Building Management | Burnaby | Burnaby North Real Estate | Burquitlam | Business | Business Owner | Buying | Buying Property | Cafe | Cambie | Cambie Corridor | Cambie, Vancouver West Real Estate | Canada | Capilano Highlands, North Vancouver Real Estate | Cedar Cottage | Cedar Hills, North Surrey Real Estate | Central Park BS, Burnaby South Real Estate | Champlain Heights, Vancouver East Real Estate | Character Building | Character Home | Cheap | Chilliwack | Chinatown | Christy Clark | City of Vancouver | Civil Resolution | Civil Resolution Tribunal | CLI | Closing Costs | CMHC | Coal Harbour | Coal Harbour, Vancouver West Real Estate | Collingwood | Collingwood Vancouver East, Vancouver East Real Estate | Collingwood VE, Vancouver East Real Estate | Commerce | Commercial | Commercial Building | Commercial Property | Commercial Real Estate | Commercial Sales | Commercial Space | Commercial Units | Commodity | Communities | Community | Community Profile | Como Lake | Concrete Building | Condo | Condominiums | condos | Construction | Contract | Coquitlam | Coquitlam West, Coquitlam Real Estate | CPI | Creative | CRT | Current Demand | Custom Built | Custom Home | Decor | Demand | Demolition | Detached Home | Detached Properties | Development | Dispute | DIY | Downpayment | Downtown | Downtown Eastside | Downtown NW | Downtown NW, New Westminster Real Estate | Downtown Vancouver | Downtown VE, Vancouver East Real Estate | Downtown VW, Vancouver West Real Estate | DTES | Dunbar | Dunbar, Vancouver West Real Estate | Duplex | East Hastings | East Pender | East Vancouver | Eastside | Economic | Economic Growth | Economics | Economy | Employment | Energy | Energy Efficient | Entrepreneur | Environmentally Friendly | Equity | Fairview VW, Vancouver West Real Estate | False Creek | False Creek, Vancouver West Real Estate | Family | Federal Government | Finance | Financial | Financial Market | Financial Outlook | financing | First Nations | First Time Buyer | First Time Home Buyerr | First-Time Buyer | Fiscal Policy | Fitness Studio | For Lease | For Sale | forecast | Foreign Activity | Foreign Buyers Tax | Foreign Tax | Forest Glen BS, Burnaby South Real Estate | Fraser Valley | Fraser VE | Fraser VE, Vancouver East Real Estate | Gastown | GDP | Gentrification | Glenayre, Port Moody Real Estate | Global | Government | Government Sites | Grants | Greater Vancouver | Green | Gym | Hastings | Hastings Crossing | Hastings, Vancouver East Real Estate | Heritage | Heritage Building | Hidden Costs | Historic Chinatown | Home | Home Decor | Home Owner Grant | Home Price Index | Home Problems | Home Renovation | Home Sales | Home Upgrade | Homebuying | Homeowner | Homeowner Tips | House | House For Sale | Housing | Housing Demand | Housing Market | Housing Stats | Housing Trends | Housing Update | HPI | HST | Increasing Value | Industrial | Inexpensive | Inflation | Inflation Control | Insurance | Interest | Interest Free | Interest Rate | Interest Rates | International | Investment | investments | Justin Trudeau | Kensington Gardens | Kensington Heights | Kerrisdale, Vancouver West Real Estate | Killarney | King Edward | Kingsway | Kitsilano | Kitsilano, Vancouver West Real Estate | Kiwassa | Knight, Vancouver East Real Estate | Land | Land Redevelopment | Land Sales | Laneway House | Lease | Lease Agreements | Leased Space | Leasehold Property | Leasing | Legal | Legislation | Listing | Listings | Loan | Loan Program | Location | Lower Lonsdale, North Vancouver Real Estate | Lower Mainland | Luxury Home | Luxury Market | Lynn Valley, North Vancouver Real Estate | Main Street | Main, Vancouver East Real Estate | Management | Marine Way | Market | Market Demand | Market Statistics | Market Stats | market trends | Marpole, Vancouver West Real Estate | McNair, Richmond Real Estate | Metro Vancouver | Metrotown | Metrotown, Burnaby South Real Estate | Mixed-Use | Mixed-Use Complex | MLS | MLS Listings | MLS Stats | Monetary Policy | Money Savings | mortgage | Mortgage Rate | Mortgage Rates | Mount Pleasant | Mount Pleasant VE, Vancouver East Real Estate | Mount Pleasant VW, Vancouver West Real Estate | Multi-Family | Multi-Use | National Housing Strategy | Neighbourhood | Neighbourhood Project | New Business | New Development | New Home | New Listing | New West | New Westminster | Oakridge | Office | Office Project | Office Space | Offshore | Olympic Village | Online Tribunal | Open House | Open Space | Otter District, Langley Real Estate | Partnership | Point Grey | Point Grey, Vancouver West Real Estate | Port Moody Centre, Port Moody Real Estate | Portfolio | Price Gap | Price Trends | Prices | Professional Business | Projections | Property | Property Management | Property Owners | Property Taxes | Property Transfer Tax | Purchase | QuadReal | Queens, West Vancouver Real Estate | Quilchena | Quilchena, Vancouver West Real Estate | Railtown | Real Estate | Rebates | REBGV | REBGV Report | Recycle | Redevelopment | Regulations | Renfrew | Renfrew Heights | Renfrew Heights, Vancouver East Real Estate | Renovated | Renovation | Renovations | Rental | Report | Residential | Residential Building | Residential Sales | Restaurant | Restrictions | Retail | Retail Level | Retail Space | River District | Sale | Sales | Sales Report | Salmon River, Langley Real Estate | Savings | Selling | Sentinel Hill, West Vancouver Real Estate | Sequel 138 | Shaughnessy | Silk Building | Silver Valley, Maple Ridge Real Estate | Single Family | Single Storey | South Burnaby | South Granville | South Granville, Vancouver West Real Estate | South Vancouver | South Vancouver, Vancouver East Real Estate | Southeast Vancouver | Southlands, Vancouver West Real Estate | Statistics | Stats | strata | Strata Owner | Strathcona | Streetfront | Streetfront Retail | Suburbs | Summer | Sunnyside Park Surrey, South Surrey White Rock Real Estate | Supply | Surrey | Survey | Tax Savings | Taxes | Tech Space | Tenant | Tofino Real Estate | Townhomes | Townhouse | Transit | Two Storey | University VW, Vancouver West Real Estate | Update | Upgrades | Value | Vancouver | Vancouver East | Vancouver Housing | Vancouver Property Values | Vancouver Real Estate | Vancouver West | Vancouver West Real Estate | Vancouver] | Victoria | Victoria VE, Vancouver East Real Estate | Views | Water View | Waterfront | WeRentVancouver | West End | West End VW, Vancouver West Real Estate | West Vancouver | West Vancouver Real Estate | Westbank | Westender | Westside | Willoughby Heights, Langley Real Estate | Yaletown | Yaletown, Vancouver West Real Estate | YVR | Zoning