Real estate market hits soft patch

Times Colonist- Though the B.C. Real Estate Association says the province is moving toward a more balanced real estate market, Greater Victoria appears to be slipping into the doldrums again.

According to data released by the provincial association yesterday, residential sales in Victoria dropped for the sixth consecutive month in September. The average selling price for all types of housing fell 3.3 per cent to $485,459 and the sales-to-active-listing ratio at 11 per cent remained short of what is considered balanced.

The industry considers a balanced market to be in the range of 15-20 per cent when referring to sales-to-active-listings…

Real estate market hits soft patch

B.C. housing sales expected to ease this year but rise in 2011: survey

Vancouver Sun- Residential sales across the province are expected to ease by three per cent this year to 82,350 units before increasing four per cent in 2011 to 85,900 units, according to the B.C. Real Estate Association.

Waning demand, upward pressure on mortgage rates and tighter lending restrictions will moderate consumer demand this year, particularly in the Metro Vancouver, Victoria and the Fraser Valley areas, the association said in its second quarter housing forecast released Monday.

Improving economic conditions, however, are expected to counter-balance some of the erosion and stronger economic and employment growth next year will push home sales higher…

B.C. housing sales expected to ease this year but rise in 2011: survey

Canadian home sales fall 2.6 per cent in April as market cools down

Vancouver Sun- The Canadian housing market is cooling, but the decline will be moderate, thanks to the rebound in the labour market, economists say.

Canadian home sales fell 2.6 per cent in April from the previous month, with residential sales totaling 52,042 units last month, 6.8 per cent below the peak reached in December 2009, the Canadian Real Estate Association said Monday.

Listings, meanwhile, rose to 99,901 homes newly being put up for sale, a record for the month of April that suggests balance is returning to what had been a sellers’ market.

On a seasonally adjusted basis, the months of housing inventory available rose to 5.3 months, the highest level since last May.

"Canada’s housing market has gone from full gallop to stately canter and is poised to slow to a leisurely trot in the months ahead," said Bank of Montreal deputy chief economist Douglas Porter…

Canadian home sales fall 2.6 per cent in April as market cools down

B.C. leads the nation in record residential home sales

Vancouver Sun- B.C. led Canada in new monthly records for residential sales in October, according to a report released Monday by the Canadian Real Estate Association…

B.C. leads the nation in record residential home sales