Vancouver, BC – May 15, 2012. The British Columbia Real Estate Association (BCREA) reports that the dollar volume of homes sold through Multiple Listing Service® (MLS®) in BC declined 12.5 per cent to $3.8 billion in April compared to the same month last year. A total of 7,058 MLS® residential unit sales were recorded over the same period, down 1.8 per cent from April 2011. The average MLS® residential price was $532,855, 10.9 per cent lower than a year ago.

“A ten per cent dip in Lower Mainland home sales offset a 14 per cent increase across the rest of the province,” said Cameron Muir, BCREA Chief Economist. “Kamloops, the Okanagan and the North all posted double-digit increases in home sales in April compared to levels one year ago.”

“The share of provincial sales garnered by Vancouver and the Fraser Valley declined from 65 per cent in April 2011 to 60 per cent last month,” added Muir. “A larger proportion of homes sold in less expensive regions contributed to the average BC sales price dipping nearly 11 per cent.”

Year-to-date, BC residential sales dollar volume declined 15.8 per cent to $15 billion, compared to the same period last year. Residential unit sales dipped 9.7 per cent to 23,782 units, while the average MLS® residential price was 6.8 per cent lower at $546,870.

-you or your spouse or common-law partner acquired a qualifying home; and
-you  did not live in another home owned by you or your spouse or common-law  partner in the year of acquisition or in any of the four preceding years.

If you are a person with a disability or are buying a  house for a related person with a disability, you do not have to be a first-time  home buyer. However, the home must be acquired to enable the person with the disability  to live in a more accessible dwelling or in an environment better suited to the  personal needs and care of that person.
Here is a link to the Canada Revenue Agency

Retail Sales – March 22, 2012

Canadian retail sales grew for the fifth time in sixth months in January, edging 0.5 per cent higher. However, gains at the National level were due to motor-vehicle sales with non-motor vehicle sales actually falling 0.5 per cent. Overall, gains were reported in just 5 of 11 retail sectors.

In BC, retail sales rose 0.3 per cent from a weak December 2011 and were up 4.8 per cent from January 2011. After underperforming for much of 2011, we anticipate that retail sales growth will pick up from last year’s anemic 2 per cent pace, though will remain somewhat constrained by continued weakness in labour markets and high household debt burdens.

For more information, please contact: 

BCREA represents 11 member real estate boards and their approximately 18,000 REALTORS® on all provincial issues, providing an extensive communications network, standard forms, economic research and analysis, government relations, applied practice courses and continuing professional education (cpe).

Real estate boards, real estate associations and REALTORS® may reprint this content, provided that credit is given to BCREA by including the following statement: “Copyright British Columbia Real Estate Association. Reprinted with permission.” BCREA makes no guarantees as to the accuracy or completeness of this information.

2011 MLS Award

My first BCNREB  MLS award for sales in 2011.  The BCNREB [ BC Northern Real Estate Board] runs from 100Mile House to Ft St John and Prince Rupert.

Canadian Inflation - January 20, 2012

Canadian CPI inflation registered 2.3 per cent (year-over-year) in December, a 0.6 point decline from November. The drop in inflation last month was largely due to slow growth in prices for gasoline, food products, and automobiles.  The Bank of Canada’s core inflation measure, which excludes food and energy prices, rose at a rate of 1.9 per cent in December from 2.1 per cent in November. Consumer prices in BC were just 1.7 per cent in December (year-over-year).
 
Slack in the Canadian economy and moderating global commodity prices are likely to ensure that both core and total CPI inflation remain close to or below the Bank of Canada’s 2 per cent inflation target over the next 12 months. Without any serious inflationary pressure, the Bank of Canada will opt to keep the current considerable level of monetary stimulus in place for the foreseeable future.

For more information, please contact: 

BCREA represents 11 member real estate boards and their approximately 18,000 REALTORS® on all provincial issues, providing an extensive communications network, standard forms, economic research and analysis, government relations, applied practice courses and continuing professional education (cpe).

Real estate boards, real estate associations and REALTORS® may reprint this content, provided that credit is given to BCREA by including the following statement: “Copyright British Columbia Real Estate Association. Reprinted with permission.” BCREA makes no guarantees as to the accuracy or completeness of this information.