market: Real Estate Prices, Sales Soar - 03/26/07 09:12 PM
After catching its breath over Christmas, the Vancouver Island real estate market is soaring again, especially south of the Malahat. New home construction is also climbing.
February data released by the Victoria and Vancouver Island Real Estate Boards show the number of units sold up substantially across virtually the whole island, … (0 comments)
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market: CMHC Releases 2006 Consumer Survey - 03/11/07 11:04 AM
CMHC RELEASES 2006 MORTGAGE CONSUMER SURVEY
Vancouver Toronto March 7, 2006: Canadian Mortgage and Housing Corporation released their 2006 Mortgage Consumer Survey that tracks behaviour and trends of the mortgage borrowers. The survey is based on a national probability sample of 2,383 active mortgage consumers who have recently undertaken a mortgage transaction or are planning to do so.
CMHC indicated that the Canadian … (0 comments)
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market: Canada's Productivity Falling - 02/17/07 11:16 AM
Given Canada's and especially Western Canada's robust economy, it's "phenomenal" that both the country's and our region's productivity is falling, TD Bank Financial Group's Chief Economist Don Drummond told a Victoria forum organized by Royal Roads University and the Victoria Chamber of Commerce.
Unemployment rates continue to fall as the labour … (4 comments)
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market: BC Housing Market Forecast - 02/16/07 04:30 PM
Forecast Highlights
Housing market activity to remain high Affordability for low-equity buyers worsens Sales slip lower, price increases slowing Tighter rental market Soft-landing market adjustment ahead Lower-cost markets outperform higher-cost urban markets Gradual market adjustment ahead
Market conditions are shifting away from a tight seller's market. Considerable market price pressures remain, which has … (0 comments)
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market: Canada new house prices level off in December - 02/11/07 12:17 PM
Average prices of new houses in Canada did not show a monthly increase in December for the first time since June 2000 as superheated markets in western Canada showed signs of cooling down.
Statistics Canada said on Thursday December's new home prices were up 10.7 percent from a year earlier, but … (0 comments)
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market: Internet replaces agent for some homesellers - 02/11/07 11:49 AM
In 1995, Bryan Dunlop launched ComFree, a commission-free service that helps homeowners sell their houses without the assistance of an agent -- but with lots of help from the Internet. Eleven years later, Dunlop, 61, is sitting atop a western Canadian phenomenon.
Dunlop says that ComFree listings now represent 13 per … (1 comments)
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market: House prices ebb but remain strong - 12/16/06 01:48 PM
Some of the air has come out of the Calgary housing boom with prices for new homes suffering their first month-to-month drop in two years, and one of the steepest declines among more than two dozen Canadian cities. However, Calgary homeowners can relax, as the Statistics Canada report Monday also shows … (0 comments)
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market: Real estate buoys the middle class - 12/15/06 09:13 PM
Canada's wealth distribution has become more skewed over the past 20 years, but it's in the middle of the pack when compared with the rest of the world, new studies show.
The country's real estate boom has been the key factor supporting middle-class families in the past two decades, making them more … (0 comments)
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market: Hot housing market expected to cool . . . - 12/15/06 09:03 PM
Making money in real estate wasn't hard for many Canadians in 2006.
In Alberta, an economic boom drove house prices through their heavily insulated roofs, while the rest of the country saw average house prices rise in the double digits, according to realtor Royal LePage.
But as a new year dawns, investors and … (0 comments)
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market: New home prices drop in Victoria - 12/11/06 09:04 AM
The average national price of a new home edged higher in October, but some of Canada's priciest cities - Toronto, Victoria and Calgary - experienced a drop.
Calgary, which led the price gains for most of the year, saw prices drop of the first time since November, 2004, Statistics Canada said Monday.
On … (0 comments)
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market: B.C. unlikely to see lower house prices soon - 11/26/06 11:53 AM
The upside of British Columbia's real-estate-market cycle has been steep, but the downside will not be as rapid as in the U.S., according to the real estate firm Century 21 Canada.
House prices in select B.C. markets have been flat or risen up to 12 per cent in the last year. That … (0 comments)
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market: Housing market crash not in the cards for Canada - 11/22/06 04:14 PM
Canada's hottest housing markets will not suffer the price crashes seen in some U.S. regions, in part because the speculation and high-risk mortgages that fuelled the activity south of the border are not as prevalent in this country.
A survey by realtor Century 21 Canada found the massive price increases seen across … (1 comments)
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market: Bridgewater Bank & AIG United Guaranty Canada Partner to Deliver Innovative Mortgage Products to Canadian Homebuyers - 11/22/06 02:23 PM
Bridgewater Bank, Canada's newest chartered bank, and AIG United Guaranty(1), Canada's newest mortgage insurer announced today the agreement of a strategic partnership. The two companies will combine their respective mortgage finance and mortgage insurance expertise to deliver innovative products and superior customer service to the Canadian homebuyer market.
Bridgewater Bank's Vice-President & … (0 comments)
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market: Home building market continues climb - 11/10/06 01:06 PM
The upswing in Prince George's house construction is continuing, the latest statistics from Canada Mortgage and Housing Corporation show.Year-to-date, there have been 243 starts for single-family homes as of the end of October, a 10.5-per-cent increase over the 220 reached by the same point last year. Add on the 37-units of … (0 comments)
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market: Housing Market Participants to Benefit from Major Enhancements to CMHC Information Products - 11/10/06 01:01 PM
Canada Mortgage and Housing Corporation (CMHC) today announced that the housing industry, consumers and policy makers will benefit from a new suite of enhanced surveys and analytical reports from its Market Analysis Centre (MAC). "Our clients rely on MAC's products for comprehensive and up-to-date housing market information. In an ever-changing market, … (0 comments)
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market: Housing starts set for three-year slide - 11/02/06 09:03 AM
Housing starts will likely decline over the next three years, while the blistering pace of price increases is expected to slow, a housing report predicted Thursday.
Starts are seen dropping 7.5 per cent next year and another 10.9 per cent between 2007 and 2010, Canada Mortgage and Housing Corp. said.
Price … (0 comments)
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market: Bank of Canada rapped housing agency on inflation - 10/30/06 01:12 PM
Bank of Canada Governor David Dodge rapped the government housing agency last summer for fueling inflation with new mortgage insurance products, according to a letter released by the central bank on Monday. Dodge wrote the letter to the Canadian Mortgage and Housing Corporation (CMHC) on June 30, but later met with … (0 comments)
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market: Mortgage rates on the rise - 10/24/06 11:19 PM
Mortgage rates have begun heading up again at Canada's major banks, reversing two rate cuts made last month.
TD Canada Trust, Royal Bank, CIBC, and Bank of Montreal have all boosted their posted five-year fixed mortgage rates by a fifth of a percentage point to 6.8 per cent.
A four-year fixed mortgage also rises by a fifth of … (0 comments)
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market: House price appreciation across Canada to slow as more listings come on stream in 2007, says RE/MAX - 10/18/06 11:30 AM
Home buyers across the country will breathe a sigh of relief in 2007, thanks to a nationwide influx of new listings that is expected to slow price appreciation in major Canadian centres, says a report released today by RE/MAX.
The RE/MAX Housing Market Outlook 2007 found that while the number of homes … (0 comments)
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market: AIG United Guaranty - Launch into the Canadian Marketplace - 10/18/06 10:47 AM
AIG UNITED GUARANTY CANADA UNVEILS PRODUCT LINE-UP
Mortgage Insurer Launches New Line of Mortgage Insurance Products
TORONTO – AIG United Guaranty1 Mortgage Insurance Company Canada, which provides mortgage guaranty insurance designed to increase home ownership, has introduced a product lineup that includes new Mortgage Insurance options as well as enhanced … (0 comments)
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market: Housing activity most balanced in five years - 10/16/06 10:53 PM
Signs that Canada's housing market is in for a “soft landing” are building as the furious pace of activity in the housing market gives way to the most balanced conditions in more than five years, according to the Canadian Real Estate Association.
Although sales activity as measured through the Multiple Listing Service … (0 comments)
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market: Incomes up, debt up too - 10/15/06 12:44 PM
High housing costs makes it hard to attract workers
First, the good news: We're all making more money.
The bad news, according to the Chartered Accountants of B.C., is that skyrocketing housing costs are pushing up personal debt levels.
However, further gains in disposable income are on the way, the bean counters say.
"The province's … (0 comments)
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market: Housing starts reach new high (Prince George) - 10/12/06 08:53 AM
The Prince George homebuilding industry enjoyed its most productive third quarter since the Canada Mortgage and Housing Corporation began collecting statistics, says a CMHC market analyst."A total of 96 single-detached homes were started between July and September, the busiest third quarter on record going back to 1988," Andy Ni said Tuesday.This … (0 comments)
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market: Cooling Canada housing boom may aid central bank - 10/11/06 08:13 PM
Back-to-back months of decline may not spell an end to Canada's housing boom, but they do take a bit of pressure off the Bank of Canada as it adjusts monetary policy to a slowing economy.
New home construction dropped 2.4 percent in September, missing economists' estimates for a gain, due to … (1 comments)
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market: Lower bank rate could fuel boom - 10/10/06 04:45 PM
Real estate market could heat up again in region The Bank of Canada is expected to slash interest rates by as much as one per cent over the next 12 months, according to a recently released report from one of Canada's leading financial industry experts.
And that spells good news for … (1 comments)
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market: Housing Starts Stumble - 10/10/06 11:34 AM
Canadian housing starts fell 2.4 per cent in September as construction on condos and apartments hit its lowest level in more than two years, Canada Mortgage and Housing Corp. said Tuesday.
Starts unexpectedly fell to 211,300 units in September, on a seasonally-adjusted annual basis, from 216,600 units in August. Single-house construction rose … (0 comments)
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