Vancouver, BC – May 30, 2017. The BCREA Commercial Leading Indicator (CLI) increased for the fifth consecutive quarter, rising 0.5 index points from the fourth quarter of 2016 to the first quarter of 2017. The index now sits at 128.0, a 4 per cent increase from a year ago and a 0.4 per cent gain on a quarterly basis.
"The rising CLI mirrors the overall robust trend in the provincial economy," says... read more.
Below are some insights of the poll from April 2016 to April 2017.
This feedback paints a picture of what’s happening 'on the ground' in the market.
The survey asks demographic questions about the buyers. Are they single or married? Do they have children? Are they seniors?
So far we’re seeing more sales, less new listings, and a higher total inventory than last year.
Sales Are Higher So FarVancouver appears to be seeing more sales this May than last. As of May 23, there was 4,120 sales, which averaged 179 sales per day. The same month last year ended with 4,769 sales, which averages to 153 sales per day. Sales are on target to beat last year’s numbers by almost 17... read more.
It might not be as hot a spring as last year, but it’s a lot hotter than fall – at least in terms of the BC real estate stats released May 15 by the British Columbia Real Estate Association (BCREA).
Vancouver’s sky-high home prices have created a spill-over effect in outlying markets, with varying degrees of impact based on proximity to the city centre.
“Price changes in the City of Vancouver are linked to prices in other municipalities, both on the way up and on the way down,” Braden Batch, Senior Market Analyst, Market Analysis Centre at CMHC, said. “The spillover effects take years to fully... read more.