Baby Boomers On The Move

10/18/2023

Good News On the Inflation Front Suggests Policy Rates Have Peaked
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Today's inflation report for September was considerably better than expected, ending the three-month rise in inflation. Not only did the headline inflation rate fall, but so did the core measures of inflation on a year-over-year basis and a three-month moving average basis. This, in combination with the weak Business Outlook Survey released yesterday, suggests that the overnight policy rate at 5% may be the peak in rates. While I do not expect the Bank to begin cutting rates until the middle of next year, the worst of the tightening cycle may well be over.

Dr. Sherry Cooper

10/18/2023

Average detached-house price in Northern B.C. falls to $408,000

Sales and prices in many northern markets are down from last year to the most affordable level in the province

10/18/2023

Read Royal LePage’s third quarter release for national and regional insights.

Third quarter press release highlights:

✔️Aggregate home prices in greater regions of Toronto and Vancouver posted modest quarterly declines in Q3 of 2.8% and 1.8%, respectively. Meanwhile, Greater Montreal Area posted 0.6% aggregate price increase quarter over quarter
✔️More than half (57%) of regional markets in the report posted a quarter-over-quarter decline in Q3 as activity softened
✔️Diverging trends among major regions sees year-end forecast downgraded nationally and in the Greater Toronto Area, Edmonton and ✔️Regina; forecast maintained in the Greater Montreal Area (GMA), Greater Vancouver, Ottawa, Winnipeg and Halifax; Calgary is the only city whose forecast has been raised
✔️Royal LePage applauds federal government’s GST rebate policy aimed at incentivizing new construction of purpose-built rental housing

10/17/2023

It's that time of the year again! This is an excellent opportunity to have your furnace service and change the filter!

10/17/2023

In which fabulous House & Home backyard lounge would you most like to spend the weekend? 🌞✨ I'm all over A!
A. Fireside Frenzy
B. Poolside Perfection
C. Periwinkle Bliss
D. Neutral-Toned Oasis

10/16/2023

Phil Soper, president and CEO, Royal LePage. “Once interest rates begin to ease, even by only a small amount, we expect buyers will return to the market in large numbers and the relentless upward march of home prices will begin again. At its root, housing supply remains out of step with the growing need for it.”

10/16/2023

Let's avoid this type of real estate marketing! Can I please show you what it is that I do to get homes sold? 🤔

10/16/2023

“Slower activity has allowed critically low inventory levels to build marginally in many regions, yet the quantity of homes available for sale in this country remains well below the level needed to keep a lid on property price increases,” said Phil Soper, president and CEO, Royal LePage.

10/15/2023

Halloween Activities in Surrey

Get into the Halloween spirit with your friends and family!

10/15/2023

Enjoy your day people ♥️

10/15/2023

“Home sales in BC have clearly been impacted by the Bank of Canada's recent tightening of interest rates, along with the resulting surge in mortgage rates,” said BCREA Chief Economist Brendon Ogmundson. “Home sales are once again trending at below average levels as potential buyers struggle with a high cost of borrowing.”

Brendon Ogmundson
Chief Economist
BCREA