July 2, 2020 Housing market shows early signs of recovery Activity in the housing market is still far below normal, due to COVID-19. But things have been steadily improving since the all-time low in April (which was, according to the CREA, the worst month for home sales since 1984). The British Columbia Real Estate Association [...]
July 24, 2019 The Market Continues to Cool The British Columbia Real Estate Association (BCREA) reports that a total of 6,960 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in June, a decline of 11.8 per cent from the same month last year. Some quick facts: The average MLS residential price in [...]
Are you buying your first home? Good news! You may be exempt from paying Property Transfer Tax (PTT) on your purchase. The First Time Home Buyers' Program reduces or eliminates the amount of property transfer tax you pay when you purchase your first home. If you qualify for the program, you may be eligible for either a [...]
What is the "stress test"? At the beginning of the month, Ottawa released the news that they would be introducing some new measures to make it harder for Canadians to take on a mortgage they can’t afford. On October 17th, 2016, the federal government’s new rules for first-time homebuyers take effect. Now all insured mortgage [...]
