MLS® HOME SALES FORECAST REVISED OTTAWA – May 14th, 2009 – A Spring housing market that was more active than anticipated has prompted a change to the MLS® home sales forecast issued by The Canadian Real Estate Association for the rest of 2009, and for 2010. National home sales activity is forecast to be down 14.7 per cent to 370,500 units in 2009. This is slightly less than the reduction in activity predicted in CREA’s forecast issued last February. The forecast decline in ann ... Full Article...

Greg Quinn, Bloomberg Published: Thursday, May 14, 2009 Canadian sales of existing homes rose the most in more than five years in April, a realtor group said, citing lower prices and a rebound in consumer confidence. Sales rose 11% from the previous month on a seasonally adjusted basis to 34,838 units, the Canadian Real Estate Association said Thursday in a statement from Ottawa. The average price fell 3.2% from a year earlier to $306,366. "Price adjustments in some markets have helped aff ... Full Article...

DOUBLE NATIONAL HONOURS FOR FRASER VALLEY REALTORS® May 11, 2009 SURREY, BC – Efforts by Fraser Valley REALTORS® to promote public interests have resulted in two national awards from the Canadian Real Estate Association (CREA). The Fraser Valley Real Estate Board, the sixth largest in Canada out of 95, received CREA’s 2008 Ethics Award at its annual general meeting in Ottawa, April 3, for its Excellence through Ethics program. Three weeks later, at CREA’s Political Action C ... Full Article...

It is always more fun to report good news. Following are highlights from various news sources. More proof that the world is not coming to and end and in fact is off life support. The (US) credit crunch is therefore easing and the Loan Officer survey is confirming what the stock market is already telling you-- that the worst is likely past us. Financial Post May 7, 2009 Although North American equity markets are up more than 30% during the current rally that shows few signs of stopping, most i ... Full Article...

Confidence. Probably the most important measure of when and how we will get out of this recession. We know that in order for all of us to get out of this recession, The U.S, housing market and the various stock markets need to turn around. We are already seeing very encouraging signs on our local markets as were addressed in recent reports this morning however it is also good to understand that the good news is also coming out around is via better than expected US Housing data and the positive ... Full Article...

MORE SIGNS OF A REAL ESTATE REBOUND IN THE FRASER VALLEY (Surrey, BC) – The Fraser Valley real estate market continued to show signs of rebalancing in April with the number of sales increasing for the third month in a row while the volume of available properties stayed constant. Benchmark prices for detached homes and condominiums also showed increases over the last three months. There were 1,293 sales processed on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS ... Full Article...