Posted on
February 3, 2022
by
Steve Flynn
I have sold a property at 501 9857 MANCHESTER DR in Burnaby. TOP FLOOR, end unit, 2 bed/1 bath, 788 sq ft. West-facing, looking into lovely, mature trees. HUGE living room, 2 good-sized bedrooms, s/s kitchen appliances & in-suite storage (no locker). Private & bright balcony. Proactive strata has replaced/updated: piping, roofs, elevators, windows & patio doors, balcony membranes, etc. Amenities include gym, social room & community garden. FANTASTIC location with Cameron Elementary, parks, shopping & dining, Lougheed Skytrain station, etc, all within 5-15 min walk. Very QUICK access to Lougheed Hwy & Hwy 1. 1 dog or cat & rentals allowed. 1 parking stall.
Posted on
February 3, 2022
by
Steve Flynn
I have listed a new property at 124 5880 DOVER CRES in Richmond. STYLISH & smart 533 s.f. 1 bed/1 bath, ground-floor condo w/LARGE 189 s.f. patio. Faces north into private & serene courtyard. Lots of 2020 updates: flooring, kitchen countertop, paint, lighting, doors, baseboards, etc. Amenities incl: gym & party room. $1.2M in CRF and LOW strata fee of $206! Great location: across from park, 3 min walk to 5.5 km Fraser river trail, 10 min walk to Olympic Oval, T & T, Shoppers, banks, dining, etc, & easy access to airport & Vancouver. 1 parking, no locker. Rentals allowed w/restrictions & 1 cat allowed. Showings start now, OFFERS AS THEY COME. Open House: Sun. Feb 6, 1-4pm, by appointment only.
Posted on
February 3, 2022
by
Steve Flynn
Please visit our Open House at 124 5880 DOVER CRES in Richmond. Open House on Sunday, February 6, 2022 1:00PM - 4:00PM STYLISH & smart 533 s.f. 1 bed/1 bath, ground-floor condo w/LARGE 189 s.f. patio. Faces north into private & serene courtyard. Lots of 2020 updates: flooring, kitchen countertop, paint, lighting, doors, baseboards, etc. Amenities incl: gym & party room. $1.2M in CRF and LOW strata fee of $206! Great location: across from park, 3 min walk to 5.5 km Fraser river trail, 10 min walk to Olympic Oval, T & T, Shoppers, banks, dining, etc, & easy access to airport & Vancouver. 1 parking, no locker. Rentals allowed w/restrictions & 1 cat allowed. Showings start now, OFFERS AS THEY COME. Open House: Sun. Feb 6, 1-4pm, by appointment only.
Posted on
February 1, 2022
by
Steve Flynn
The first month of 2022 saw home sales come down from last year’s record-setting pace, while low supply continued to cause home prices to edge higher across Metro Vancouver*.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,285 in January 2022, a 4.4 per cent decrease from the 2,389 sales recorded in January 2021, and a 15 per cent decrease from the 2,688 homes sold in December 2021. Last month’s sales were 25.3 per cent above the 10-year January sales average.
There were 4,170 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2022. This represents a 6.9 per cent decrease compared to the 4,480 homes listed in January 2021 and a 114.4 per cent increase compared to December 2021 when 1,945 homes were listed.
“Our listing inventory on MLS® is less than half of what would be optimal to begin the year. As a result, hopeful home buyers have limited choice in the market today. This trend is causing fierce competition for a scarce number of homes for sale, which, in turn, increases prices,” Keith Stewart, REBGV economist said. The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 5,663, a 31.8 per cent decrease compared to January 2021 (8,306) and an 8.2 per cent increase compared to December 2021 (5,236).
“As we approach spring, we’ll keep a close eye on the impact of rising interest rates on buyers’ willingness to buy and on whether more home owners will opt to become sellers in what’s traditionally the busiest season of the year,” Stewart said. “With home prices reaching new highs in recent months, the need has never been greater for government to collaborate with the building community to expedite the creation of housing supply and provide more choice for those struggling to buy a home today.”
For all property types, the sales-to-active listings ratio for January 2022 is 40.3 per cent. By property type, the ratio is 28 per cent for detached homes, 51.6 per cent for townhomes, and 49.7 per cent for apartments. Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,255,200. This represents a 18.5 per cent increase over January 2021 and a two per cent increase compared to December 2021.
Sales of detached homes in January 2022 reached 622, a 15.9 per cent decrease from the 740 detached sales recorded in January 2021. The benchmark price for a detached home is $1,953,000. This represents a 22.7 per cent increase from January 2021 and a 2.2 per cent increase compared to December 2021.
Sales of apartment homes reached 1,315 in January 2022, a 10 per cent increase compared to the 1,195 sales in January 2021. The benchmark price of an apartment property is $775,700. This represents a 14 per cent increase from January 2021 and a 1.8 per cent increase compared to December 2021.
Attached home sales in January 2022 totalled 348, a 23.3 per cent decrease compared to the 454 sales in January 2021. The benchmark price of an attached home is $1,029,500. This represents a 24.3 per cent increase from January 2021 and a 2.5 per cent increase compared to December 2021.
* Areas covered by the Real Estate Board of Greater Vancouver include: Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.
Copyright British Columbia Real Estate Association. Reprinted with permission.
Posted on
February 1, 2022
by
Steve Flynn
The Canadian economy expanded 0.6 per cent in November on a month-over-month basis, propelled by strong growth across essentially all sectors. Canadian real GDP is now 0.2 per cent above its pre-pandemic, February 2020 level. Preliminary estimates suggest that output in the Canadian economy was essentially flat in December.
At its most recent meeting, the Bank of Canada noted that the slack in the Canadian economy has been largely absorbed. Growth in the economy accelerated in the fourth quarter with real GDP growth tracking at 6.4 per cent annualized. Even with an expected Omicron driven slowdown in the first quarter of 2022, the Canadian economy is clearly on a very strong growth path. With inflation elevated and the robust growth, the Bank of Canada will begin raising its overnight rate at its March 2nd meeting, continuing quarterly rate hikes until the overnight policy rate reaches 1.75 per cent. Canadian 5-year fixed rates have already risen substantially, returning to their pre-pandemic level of about 2.9 per cent.
Copyright British Columbia Real Estate Association. Reprinted with permission.
Posted on
January 27, 2022
by
Steve Flynn
While the majority of expert opinion had swung toward the Bank of Canada raising its overnight rate this morning, the Bank instead maintained its overnight rate at 0.25 per cent. However, in the statement accompanying the decision the Bank noted that slack in the economy has been absorbed and it is ending what it calls its "exceptional forward guidance" on the policy interest rate. This is a clear signal that the Bank will begin raising its overnight policy rate, likely at its next meeting in March. The Bank also noted that the Canadian economy grew much faster than expected over the second half of 2021 and has entered 2022 with considerable momentum. While the Omicron variant is weighing on activity in the first quarter, its impact is expected to be modest. Importantly, the Bank expects inflation to remain close to 5 per cent (annualized) over the first half of 2022 before declining to 3 per cent by the end of the year.
Inflation continues to run ahead of the Bank of Canada's 2 per cent target and inflation expectation are noticeably rising. That has prompted the Bank to bring its rate tightening forward by several months. We expect the Bank will begin tightening in March, ultimately bringing its overnight rate to 1.75 per cent by early 2023. Canadian fixed-rate mortgages have already been rising in anticipation of a higher Bank of Canada rate and are now closing in on their pre-pandemic level of 3 per cent.
Copyright British Columbia Real Estate Association. Reprinted with permission.
Posted on
January 22, 2022
by
Steve Flynn
Canadian seasonally-adjusted retail sales rose 0.7% to $58.1 billion in November. The rise was driven by sales at gasoline stations (+4.9%), building material and garden equipment and supplies dealers (+3.0%) and food and beverage stores (+1.0%). Core retail sales, which strips out gasoline and vehicle and parts sales, increased 0.5% in November. Part of this growth was due to price growth--retail sales rose 0.2% in volume terms.
In BC, seasonally-adjusted sales rose 0.8% in November. Compared to the same month last year, retail sales were up 3.3% in the province. In the Greater Vancouver region, sales rose 0.7% month-over-month and were up 9.4% year-over-year.
In November, Canadian e-commerce sales rose from $3.3 billion to $4.3 billion. As a result, e-commerce increased from 5.4% of total retail sales in October to 6.9% in November. This percentage remains elevated relative to pre-pandemic levels.
Copyright British Columbia Real Estate Association. Reprinted with permission.
Posted on
January 21, 2022
by
Steve Flynn
I have sold a property at 612 7831 Westminster Highway in Richmond. Presenting the EXECUTIVE SUITE at the highly sought-after "The Capri" complex by Onni Group in DOWNTOWN RICHMOND. This stunning contemporary home is 746 sq. ft, 2 bedroom + 1 bathroom and boasts an efficient open concept floor plan. West facing courtyard view over the pool garners abundant sunlight. Steps to CF Richmond Centre, Brighouse Skytrain Station/Bus Loop, and the city's finest restaurants. Resort-style amenities include large exercise centre, club house with media room, guest suite, and outdoor pool/sauna/hot tub. Value, elegance, convenience, and contemporary designs collide in the heart of Richmond. *1 parking + 1 locker*
Posted on
January 19, 2022
by
Steve Flynn
Canadian prices, as measured by the Consumer Price Index (CPI), rose 4.8% on a year-over-year basis in December, up from 4.7% in November. On a month-over-month basis, the CPI declined 0.1% in December, the first monthly decline since December 2020. The Bank of Canada's preferred measures of core inflation (which use techniques to strip out volatile elements) rose an average of 2.9% year-over-year in December. Higher prices for food (+5.2%), passenger vehicles (+7.2%) and homeowners' home and mortgage insurance (+9.3%) were major drivers of growth in the headline CPI. Supply-chain difficulties continued contributing to price gains, as well as the flooding and infrastructure damage in BC. In BC, consumer prices were essentially flat month-over-month, and up 3.9% on a year-over-year basis.
Inflation continues to run ahead of the Bank of Canada's 2 per cent target. Although transportation costs appear to be trending down, food and shelter costs are on the rise. While the food prices may reflect temporary supply chain issues, a recovery in Canadian rents and rising mortgage costs mean the shelter component of CPI may continue to rise in 2022. As a result, we expect this elevated level of inflation to persist through 2022 before prices begin moderating. The Bank of Canada has signaled that it will begin raising its policy rate this year, and markets are now expecting those rate increases to happen much earlier than previously anticipated, perhaps as early as the Bank of Canada meeting next week.
Copyright British Columbia Real Estate Association. Reprinted with permission.
Posted on
January 19, 2022
by
Steve Flynn
TOP FLOOR, VACANT, end unit, 2 bed/1 bath, 788 sq ft. West-facing, looking into lovely, mature trees. HUGE living room, 2 good-sized bedrooms, s/s kitchen appliances & in-suite storage (no locker). Private & bright balcony. Proactive strata has replaced/updated: piping, elevators, windows & patio doors, balcony membranes, etc.Amenities include gym, social room & community garden.
FANTASTIC location with Cameron Elementary, parks, shopping & dining, Lougheed Skytrain station, etc, all within 5-15 min walk. Very QUICK access to Lougheed Hwy & Hwy 1. 1 dog or cat & rentals allowed. 1 parking stall. Showings start at OPEN HOUSE this Sat & Sun, 2-5pm, by appointment only.
Posted on
January 19, 2022
by
Steve Flynn
Canadian housing starts fell to 236.1k units in December at a seasonally-adjusted annual rate (SAAR). This brings the total number of housing starts in 2021 to 271.2k, 16% above the previous record in 2004. Housing starts were down by 67.7k (22.3% m/m) in December (SAAR). Comparing year-over-year, starts were up slightly from December of 2020 (1.3% y/y). Single-detached housing starts dipped 3.4% in December to 70.8k, while multi-family and others dropped 28.3% to 165.3k (SAAR).
In British Columbia, starts were up 39.1% in December, rising to 55.3k units SAAR in all areas of the province. In areas in the province with 10,000 or more residents, single-detached starts rose 20.5% m/m to 8.7k units while multi-family starts leaped 47.9% to 42.3k units. Starts in the province were 26.7% above the levels from December 2020. Starts were up by 7.7k units in Vancouver, 3.6k in Victoria, 1.9k in Kelowna, and 1.5k in Abbotsford. The 6-month moving average trend declined 4.1% to 44.2k in December in BC.
Copyright British Columbia Real Estate Association. Reprinted with permission.
Posted on
January 19, 2022
by
Steve Flynn
I have listed a new property at 501 9857 MANCHESTER DR in Burnaby. TOP FLOOR, VACANT, end unit, 2 bed/1 bath, 788 sq ft. West-facing, looking into lovely, mature trees. HUGE living room, 2 good-sized bedrooms, s/s kitchen appliances & in-suite storage (no locker). Private & spacious balcony. Proactive strata has replaced/updated: piping, elevators, windows & patio doors, balcony membranes, etc. Amenities include gym, social room & community garden. FANTASTIC location with Cameron Elementary, parks, shopping & dining, Lougheed Skytrain station, etc, all within 5-15 min walk. Very QUICK access to Lougheed Hwy & Hwy 1. 1 dog or cat & rentals allowed. 1 parking stall. Showings start at OPEN HOUSE this Sat & Sun, 2-5pm, by appointment only. Offers at 6pm, Tues, Jan 25.
Posted on
January 19, 2022
by
Steve Flynn
Please visit our Open House at 501 9857 MANCHESTER DR in Burnaby. Open House on Saturday, January 22, 2022 2:00PM - 5:00PM TOP FLOOR, VACANT, end unit, 2 bed/1 bath, 788 sq ft. West-facing, looking into lovely, mature trees. HUGE living room, 2 good-sized bedrooms, s/s kitchen appliances & in-suite storage (no locker). Private & spacious balcony. Proactive strata has replaced/updated: piping, elevators, windows & patio doors, balcony membranes, etc. Amenities include gym, social room & community garden. FANTASTIC location with Cameron Elementary, parks, shopping & dining, Lougheed Skytrain station, etc, all within 5-15 min walk. Very QUICK access to Lougheed Hwy & Hwy 1. 1 dog or cat & rentals allowed. 1 parking stall. Showings start at OPEN HOUSE this Sat & Sun, 2-5pm, by appointment only. Offers at 6pm, Tues, Jan 25.
Posted on
January 19, 2022
by
Steve Flynn
Please visit our Open House at 501 9857 MANCHESTER DR in Burnaby. Open House on Sunday, January 23, 2022 2:00PM - 5:00PM TOP FLOOR, VACANT, end unit, 2 bed/1 bath, 788 sq ft. West-facing, looking into lovely, mature trees. HUGE living room, 2 good-sized bedrooms, s/s kitchen appliances & in-suite storage (no locker). Private & spacious balcony. Proactive strata has replaced/updated: piping, elevators, windows & patio doors, balcony membranes, etc. Amenities include gym, social room & community garden. FANTASTIC location with Cameron Elementary, parks, shopping & dining, Lougheed Skytrain station, etc, all within 5-15 min walk. Very QUICK access to Lougheed Hwy & Hwy 1. 1 dog or cat & rentals allowed. 1 parking stall. Showings start at OPEN HOUSE this Sat & Sun, 2-5pm, by appointment only. Offers at 6pm, Tues, Jan 25.
Posted on
January 10, 2022
by
Steve Flynn
The British Columbia Real Estate Association (BCREA) reports that a record 124,854 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in 2021, a 32.8 per cent increase from the 94,001 units sold in 2020. The annual average MLS® residential price in BC was $927,877, an 18.7 per cent increase from $781,572 recorded the previous year. Total sales dollar volume was $115.8 billion, a 57.7 per cent increase from 2020.
“Last year was a record year for BC homes sales with seven market areas setting new highs,” said BCREA Chief Economist Brendon Ogmundson. “Listings activity could not keep up with demand throughout the year. As a result, we start 2022 with the lowest level of active listings on record.”
A total of 6,871 MLS® residential unit sales were recorded across the province in December down 17.6 per cent from a record-setting December 2020. The average MLS® residential price in BC passed the $1 million mark for the first time as the average price in three of the largest markets in the province were over $1 million in December. Total sales dollar volume was $7.1 billion, a 1.2 per cent increase year-over-year.
Total active residential listings were down 41.2 per cent to a record low of 12,179 units. The supply situation is particularly concerning in the Fraser Valley, Chilliwack and Vancouver Island where there is one month or less of supply at the current pace of sales.
Copyright British Columbia Real Estate Association. Reprinted with permission.
Posted on
January 8, 2022
by
Steve Flynn
Canadian employment grew for the seventh consecutive month in December according to Statistics Canada, rising by 55,000 to 19.371 million (0.3%, m/m). Canadian employment had recovered to its pre-pandemic level in September and is now roughly 1.3% above that level. Since the prior survey period, public health measures were largely unchanged. The survey occurred prior to the emergence of the Omicron variant and restrictions were very low across the country.
December employment gains were most pronounced among males aged 25-54, Ontarians, and those within the construction and education sectors. Fulltime employment increased by 123,000 (+0.8%) in December, whereas employment among those working part-time declined by 68,000 (-1.9%). The Canadian unemployment rate declined for a seventh consecutive month to 5.9%, the lowest level since the onset of the pandemic. The unemployment rate is now within 0.2% of the rate in February of 2020 (5.7%).
In BC, employment was essentially flat (+400, m/m), remaining at the highest level since the pandemic began. The unemployment rate, however, declined in December, reaching 5.3%, the lowest level since the pandemic began. Only Quebec and Manitoba currently have a lower unemployment rate in Canada.
Copyright British Columbia Real Estate Association. Reprinted with permission.
Posted on
January 7, 2022
by
Steve Flynn
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver* is currently $1,230,200. This represents a 17.3% increase from December 2020.
Specifically:
- The benchmark price for detached homes increased 2.1% from Nov 2021 and increasd 22% from Dec 2020.
- The benchmark price for townhouses increased 1.5% from Nov 2021 and increased 22% from Dec 2020.
- The benchmark price for apartment/condos increased 1.2% from Nov 2021 and increased 12.8% from Dec 2020.
* Areas covered by the Real Estate Board of Greater Vancouver include: Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.
Copyright British Columbia Real Estate Association. Reprinted with permission.
Posted on
January 6, 2022
by
Steve Flynn
Metro Vancouver* home sales reached an all-time high in 2021 as housing needs remained a top priority for residents in the second year of the COVID-19 pandemic.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 43,999 in 2021, a 42.2 per cent increase from the 30,944 sales recorded in 2020, a 73.6 per cent increase from the 25,351 homes sold in 2019, and a four per cent increase over the previous all-time sales record of 42,326 set in 2015. Last year’s sales total was 33.4 per cent above the 10-year sales average.
“Home has been a focus for residents throughout the pandemic. With low interest rates, increased household savings, more flexible work arrangements, and higher home prices than ever before, Metro Vancouverites, in record numbers, are assessing their housing needs and options,” Keith Stewart, REBGV economist said.
Home listings on the Multiple Listing Service® (MLS®) in Metro Vancouver reached 62,265 in 2021. This is a 14.7 per cent increase compared to the 54,305 homes listed in 2020 and a 19.9 per cent increase compared to the 51,918 homes listed in 2019.
Last year’s listings total was 11 per cent above the 10-year average. “While steady, home listing activity didn't keep pace with the record demand we saw throughout 2021. This imbalance caused residential home prices to rise over the past 12 months,” Stewart said.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 5,236, a 38.7 per cent decrease compared to December 2020 (8,538) and a 26.7 per cent decrease compared to November 2021 (7,144).
“We begin 2022 with just over 5,000 homes for sale across the region. This is the lowest level we’ve seen in more than 30 years,” Stewart said. “With demand at record levels, residents shouldn’t expect home price growth to relent until there’s a more adequate supply of housing available to purchase.”
The MLS® HPI composite benchmark price for all residential properties in Metro Vancouver ends the year at $1,230,200. This is a 17.3 per cent increase compared to December 2020. Both detached home and townhome benchmark prices increased 22 per cent in the region last year, while apartments increased 12.8 per cent.
Looking across Metro Vancouver, Maple Ridge saw the largest increase in benchmark prices at 34.7 per cent, followed by Pitt Meadows (29.8 per cent), and Whistler (27.8 per cent).
Looking at area and property type, detached homes in Pitt Meadows saw the largest benchmark price increase at 42.2 per cent, followed by detached homes (38.5 per cent) and townhomes (35.2 per cent) in Maple Ridge.
* Areas covered by the Real Estate Board of Greater Vancouver include: Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.
Copyright British Columbia Real Estate Association. Reprinted with permission.
Posted on
January 5, 2022
by
Steve Flynn
REBGV reports that residential home sales in Metro Vancouver* totalled 2,688 in December 2021, a 13.1 per cent decrease from the 3,093 sales recorded in December 2020, and a 21.6 per cent decrease from the 3,428 homes sold in November 2021.
Last month’s sales were 33.4 per cent above the 10-year December sales average.
There were 1,945 detached, attached and apartment properties newly listed for sale on the MLS® in Metro Vancouver in December 2021. This represents a 19.3 per cent decrease compared to the 2,409 homes listed in December 2020 and a 50.9 per cent decrease compared to November 2021 when 3,964 homes were listed.
For all property types, the sales-to-active listings ratio for December 2021 is 51.3 per cent. By property type, the ratio is 35.1 per cent for detached homes, 75.6 per cent for townhomes, and 60.8 per cent for apartments.
Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.
Sales of detached homes in December 2021 reached 794, a 22.6 per cent decrease from the 1026 sales recorded in December 2020. The benchmark price for a detached home is $1,910,200. This represents a 22 per cent increase from December 2020 and a 2.1 per cent increase compared to November 2021.
Sales of apartment homes reached 1,464 in December 2021, a 1.4 per cent decrease compared to the 1,474 sales in December 2020. The benchmark price of an apartment home is $761,800. This represents a 12.8 per cent increase from December 2020 and a 1.2 per cent increase compared to November 2021.
Attached home sales in December 2021 totalled 430, a 27.5 per cent decrease compared to the 593 sales in December 2020. The benchmark price of an attached home is $1,004,900. This represents a 22 per cent increase from December 2020 and a 1.5 per cent increase compared to November 2021.
* Areas covered by the Real Estate Board of Greater Vancouver include: Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.
Copyright British Columbia Real Estate Association. Reprinted with permission.
Posted on
December 21, 2021
by
Steve Flynn
Canadian seasonally-adjusted retail sales rose 1.6% to $57.6 billion in October. The rise was driven by a rebound in sales at motor vehicle and parts dealers (+2.2%) as new car sales (+2.8%) recovered from previous declines. The effects of the semiconductor shortage which had curtailed sales of new cars eased somewhat in October. Preliminary estimates, based on roughly 40.9% of respondents reporting so far to Statistics Canada, indicate that retail sales rose 1.2% in November.
In BC, seasonally-adjusted sales rose 0.3% in October. Compared to the same month last year, retail sales were up 1.6% in the province. Clothing sales rose the largest amount on a year-over-year basis in October, up 13.3%. In the Greater Vancouver region, sales rose 1.5% month-over-month and were up 10.8% year-over-year.
In October, Canadian e-commerce sales rose from $3.2 billion to $3.3 billion. As a result, e-commerce increased from 5.4% of total retail sales in August to 5.5% in October. This percentage is lower than at most points since the onset of the pandemic but is elevated compared to pre-pandemic levels.
Copyright British Columbia Real Estate Association. Reprinted with permission.
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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.