Home prices to jump as total sales fall, forecast predicts

Times Colonist-  Greater Victoria house prices will climb this year even though total sales are projected to dip from 2009, according to a new forecast from the B.C. Real Estate Association.

"B.C. housing markets are returning to typical post-recession demand patterns," the association said in its third quarter update yesterday.

This year, total Greater Victoria sales are expected to drop to 6,800, from 7,660 last year, the update said. Next year, sales will climb slightly to a total of 7,150…

Home prices to jump as total sales fall, forecast predicts

Canada’s May home resale prices up for 13th straight month, but not likely to be sustained

 

Vancouver Sun- Canadian home prices rose 1.3 per cent in May, their largest monthly gain since last September, but are unlikely to keep up the pace in months ahead, according to the Teranet-National Bank composite house price index, released Wednesday.

On an annual basis, prices rose 13.6 per cent and are now 4.2 per cent higher than their pre-recession peak.

Prices have now advanced for 13 straight months, the survey showed.

The yearly gains were strongly influenced by advances in Canada’s major markets, with Vancouver up 17.1 per cent year over year and Toronto up 16 per cent…

Canada’s May home resale prices up for 13th straight month, but not likely to be sustained

Bank of Canada poised to raise interest rates

The Globe and Mail- Mark Carney is likely to raise borrowing costs for the second straight time Tuesday, while continuing to sound a cautious tone as belt-tightening in Europe, efforts to restrain China’s growth, and plunging consumer confidence in the U.S. cast a pall over Canada’s prospects.

All 12 primary securities dealers and most economists say the central-bank governor will lift his main interest rate by another 25 basis points, to 0.75 per cent. The labour market has recouped most of the jobs lost during the recession and companies are seeing better demand, suggesting the private sector will be able to lead economic growth after federal and provincial stimulus largesse runs out later this year.

Investors are less confident about later decisions, and that may not change this week because Mr. Carney is likely to reiterate that his path to a more neutral, pre-crisis policy stance depends on the developing economic stories around the world…

Bank of Canada poised to raise interest rates – The Globe and Mail

Vancouver home sales drop sharply

The Globe and Mail-  Vancouver’s housing market slowed considerably in June, with 30 per cent fewer sales than a year ago.

Still, the 2,972 sales made it the second-busiest June on record for the West Coast city. The sharp drop is further evidence that the real estate market is beginning to cool after its sharp post-recession runup after a similar drop in May.

Observers have been projecting a slower market, though not one that will come crashing down, in the face of higher mortgage rates and tighter mortgage rules.

National numbers are released by the Canadian Real Estate Association in the middle of the month, but individual real estate boards around the country often release their sales data earlier…

Vancouver home sales drop sharply – The Globe and Mail

« Previous Page — Next Page »