CMHC has just released their third quarter report on the BC housing market. The report is 23 pages long so to avoid you falling asleep reading it, I took out some highlights which I thought were worth reading. New Housing Market Residential building permit applications are often used as a leading indicator for future housing starts activity. According to Statistics Canada, all provinces, except Nova Scotia, saw increases in residential construction intentions in May 2009 versus a month ago. I ... Full Article...

Summer sure is flying by. And along with summer comes some good economic news. Yes there will be some bumps along the road however it appears the worst is behind us. In fact some economists are now even predicting a faster recovery than first expected. Which leads to interest rates... The Bank of Canada is still sticking with their goal of not raising the Overnight Rate (Prime) until June of 2010. However, a slight disclosure to that goal is that it depends on inflation. If inflation starts to ... Full Article...

JULY REAL ESTATE SALES REACH RECORD LEVELS IN FRASER VALLEY (Surrey, BC) - Fraser Valley saw the highest number of real estate transactions ever recorded for the month of July. There were 2,089 sales processed on the Fraser Valley Real Estate Board's Multiple Listings Service® (MLS®), an increase of 62.3 per cent compared to 1,284 sales in July of last year. The previous highest July was in 2005, with 2,051 sales. "The factors contributing to last month's sales are completely different than the ... Full Article...