Canadian & US Economic Information

Found 19 blog entries about Canadian & US Economic Information.

The May 9th provincial election is a perfect opportunity to address some of the critical housing issues in B.C., according to the BCREA publication, The Bulletin. The issue of housing affordability has been at the forefront of the discussions of many British Columbians, especially when it comes to lower-income demographics such as millennials and seniors, so the BCREA expects the topic to be discussed at length on the campaign trails of all major political parties over the next couple of months.

The best way that this issue can be addressed is by actively seeking the input of the public when it comes to potential solutions. The BCREA is a valuable contributor to the discussion on such solutions, believing strongly that "appropriate housing options

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Canadian Building Permits - February 2017

As per the most recent BC REA Economics Now Update, it appears that construction intentions are cooling off significantly in BC's biggest markets... but have no fear! We may see fewer new builds popping up this year, but the Kamloops real estate market is getting hotter and hotter by the day! The low inventory that we are seeing in Kamloops and the surrounding area means that new listings are selling very quickly and at extremely competitive prices.

Have a read below for the numbers behind the BC REA news release:

The total value of Canadian building permits decreased 6.6 % from November to December, the result of declining permit activity across all commercial and residential sectors. In BC,  permit

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The British Columbia Real Estate Association (BCREA) has just released the numbers for real GDP growth of the United States for the final quarter of 2016 as well as for 2016 as a whole. These numbers were weaker than expected, at 1.9% growth in Q4'2016 and 1.6% growth for the year; numbers that were influenced by a variety of factors in the U.S.

Notable in this report is the prediction that this trend will not continue in 2017. Most economists are expecting the U.S. economy to achieve a growth rate of about 2.2% this year.

The pace of American economic growth could be a major factor contributing to the B.C. housing market in 2017. While an increase in growth in the U.S. usually means good things for us British Columbians, a stronger pace of

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Happy New Year everyone! We hope that you have all had a happy and healthy start to 2017!

Back at the end of last year, we shared Part I of our discussion on the new B.C. HOME Partnership Program, where we talked about the potential negative effects of the new government initiative. As the Program officially kicked off yesterday, we wanted to make sure you have all the facts before making a move into the market - and that includes the good stuff too!

So, let's have a look at what we believe are some of the most significant benefits to the B.C. HOME Partnership Program:

1) The Program will enable people to enter the market more quickly.

One of the biggest hurdles faced by first-time home buyers is scraping together enough cash for the

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Amongst all of the chatter circulating about the B.C. government's HOME Partnership Program, we thought we would chime in with a few thoughts of our own. While it’s easy for us to simply agree with the government's move to implement this program because we are in the real estate industry, we believe that before we can agree, we must first educate ourselves and our clients on the big picture: an all-encompassing view of both the pros and the cons of this decision.

While I do very much support the B.C. Real Estate Association as well as this government initiative, I have decided to take a different approach to discussing this topic:

What are the negatives?

Negative #1:

Long-term second mortgage = increased potential for buyers to over-extend

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As we approach the 4th Quarter of 2016 there is lots of chatter about the perceived slowdown in the Canadian Real Estate market. In reality, Kamloops continues to set records unlike the suggestion that our national, provincial, and municipal economies are slowing down. I’d really like to focus this post on sharing some of the reasons why I believe that things are actually looking really good for us in Kamloops and generally all Canadian when it comes to real estate and the economy.

On November 30th, the British Columbia Real Estate Association's Chief Economist, Cameron Muir, alongside his colleague, Economist Brendon Ogmundson, released a quarterly summary full of very positive and encouraging numbers. For example, following a 1.3% decline in the

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The Kamloops Real Estate statistics for July 2015 has been released, showing very similar results, compared to July 2014 with 210 homes sold in July 2015 compared to 213 sold in July 2014. The Kamloops Median price for single family homes is still $367,500 - $500 higher than 2014. While these numbers are great, we feel that the market will remain very active, and reasonably stable over the next few months as the Federal Election ramps up.

One of the most active areas in July 2015 was Sahali which had 37 sales compared to only 24 sales in July 2014. Aberdeen continues to show strong sales, along with Brocklehurst, North Kamloops, and Valleyview. All areas seem to be very comparable to sales in July 2014. Although South Kamloops and Westsyde both

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The Kamloops Real Estate statistics for June 2015 has been released, showing better than expected sales, compared to June 2014.  The number of single family residential sales was up by 91 units or approximately 30%.  The Kamloops Median price for single family homes is still $380,000 - $100 higher than 2014. While these numbers are great, we feel that the market will remain very active, while conditions are very stable with a reasonable inventory.

One of the most active areas in June 2015 was Brocklehurst which had 32 sales in June compared to only 24 sales in June 2014. Dallas, South Kamloops, Juniper Heights, and Sahali all saw an increase of singly family residential sales compared to 2014. Aberdeen continues to show strong sales with 21single

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The Kamloops Real Estate Board residential sales statistics for May 2015 has been released, showing ver similar results, compared to May 2014.  The number of single family residential sales is on par compared to last year up being up by 2 units (256 compared to 254 last year). The Kamloops Median Residential Price for single family homes is still $363,000 which is up $31,000 or 0.91% compared to May 2014 - $332,000. While these numbers are still pretty comparable, we feel that the market conditions are very stable and inventory will continue to increase as the weather gets nicer and the market gets busier.

One of the most active areas in May 2015 was Sahali which had 26 sales in May compared to only 18 sales in May 2014. Brocklehurst, North Kamloops,

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Hello all, it’s that time of the week again. Since joining Team Cavaliere and River City Realty I have been told constantly from Vince and his team that we will get busier and busier. Well I can now say that, that time is here and it’s true. Over the past few weeks, I have noticed not only how busy our team and agents have been, but the market in general. The Kamloops Market, as of today, currently has 795 single family homes for sale, with it peaking just over 800 single family homes for sale last week. The homes around $400,000 continue to still be the most active. The Kamloops Market is quite strong, and our Team at River City Realty sees it remaining on the up slope as summer is just right around the corner. I did a little bit of researching and came

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