Sales continued stronger than this time last year with a recent wave of buyers who were anxiously getting into homes before their preapproved interest rate holds expired avoiding the recent jump from 2.99% to 3.59% for best 5 year mortgage rates. By my calculations the increase results in a 7.3% increase in cost and decrease in borrowing power for those dependent on the security of a 5 year fixed rate(a requirement for all with less than 20% down). Although rates increased, the "CMHC Benchmark Qualifiying Rate" has held steady so far at 5.34%. For those comfortable with a variable rate Prime minus 0.4% or 2.6% is still the best rate available. Sales may slow some for the next couple of months as there was a rush to purchase by those preapproved buyers

…

	Sept 2013	Sept 2012
Net Unconditional Sales:	487	419
New Listings:	1,106	1,210
Active Listings:	4,547	5,025

When Buyers enter a show suite for the first time, it can look very impressive and they are often shown marketing materials which can include the layout of some of the units and the amenities which will be present once the development is built. Often a contract is signed and a deposit is made before Buyers have had a chance to fully contemplate their decision. By law in British Columbia, Purchasers of new development property have a 7 day rescission period to cancel their purchase agreement and have their deposit returned without penalty. Amendments to the Disclosure also restart the 7 day rescission period. During this 7 day period purchasers should thoughtfully and carefully review their disclosure statement to ensure that the development property

…

We experienced the expected increase in sales this August compared to last years and I fully expect that trend to continue into the fall provided there are no further immediate moves by government to tighten lending policies. A balanced market is within reach but we’re not there yet and marginal properties and those in outlying areas continue to be harder hit than they would be if supply and demand were more balanced. At the end of last month our total supply of listings for sale shrank further to just 4,593 and with 540 total sales or 11.75% of the inventory, an 8 ½ month supply. We are definitely continuing our trend and edging closer to a balanced market which we’ve been moving towards since April 2013.   FOR IMMEDIATE RELEASE September 3, 2012

…

	Aug 2013	Aug 2012
Net Unconditional Sales:	540	462
New Listings:	935	1,025
Active Listings:	4,593	5,034

U.S. home prices rose 12.1% in June from a year earlier, nearly matching a seven-year high. But month-over-month price gains slowed in most markets, a sign that higher mortgage rates may weigh on the housing recovery. The Standard &Poor’s/Case-Shiller 20-city home price index slowed only marginally from May’s year-over-year gain of 12.2%, the fastest since March 2006. And all 20 cities posted gains from the previous month and compared with a year ago, according to the report released Tuesday. Home prices in Las Vegas soared 24.9% from a year earlier to lead all cities. Purchases by investors have helped drive that increase. Other cities hit hard by the housing bust also posted stunning gains in the past year. Prices have jumped 24.5% in San Francisco and…

There is increasing evidence to a balanced market with trending increased sales and decreased inventory with yet another consecutive month of more sales than in the same month last year and further marginally decreased supply. The overall listing supply has slipped from nearly a year overall at the beginning of 2013 to now just over 8 months inventory of listings for sale. In my opinion we are in a balanced market when we have about a 5-6 month supply so I would still classify it as a Buyer’s market with some continued risk of prices slipping further particularly with marginal properties with significant negative influences and certainly in rural areas. There are also some property types that continue to be more oversupplied than others. Overall all signs

…

  Ron A quick note to share that Gary was excellent. Service levels with all the variables that come with your industry met and exceeded my high expectations.  So you know, Jan and I drove to town…were introduced to Gary who made the right first impression. Gary never failed to stay calm, answer our many market questions and I never felt over-managed ever. A key issue for me.  I felt a measure of trust and professionalism which is why we started with your firm to begin with.  If I can ever assist your group in any way, please do not hesitate to advise.  I have included my work email for your convenience.  Best regards Jim Douglas Coast Hotels    

Vancouver, BC – July 16, 2013.The British Columbia Real Estate Association (BCREA) reports that a total of 7,196 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC in the month of June, up 5.6 per cent from June of 2012. Total sales dollar volume was 11.9 per cent higher at $3.84 billion. The average MLS® residential price in the province was $533,219, up 6 per cent from a year ago. "BC home sales rose 6.7 per cent from May, on a seasonally adjusted basis, with June being the fourth consecutive month of increasing sales activity," said Cameron Muir, BCREA Chief Economist. "Since February, home sales across the province have climbed by 23 per cent, on a seasonally adjusted basis," added Muir. On a quarterly basis, MLS®…

Average House Prices by Province	May 2013	May 2012	May 2011
National	$388,910	$375,605	$376,817
Yukon	$344,053	$381,871	$371,688
Northwest Territories	$373,454	$441,465	$350,994
British Columbia	$534,013	$519,923	$596,872
Alberta	$385,702	$374,653	$357,086
Saskatchewan	$294,414	$280,517	$268,574
Manitoba	$267,662	$256,923	$241,504
Ontario	$418,430	$403,156	$381,026
Quebec	$277,225	$274,840	$264,752
New Brunswick	$173,256	$175,466	$174,632
Prince Edward Island	$166,994	$153,137	$125,078
Nova

…