News: Vancouver Real Estate Market

 The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.


The global economic expansion is proceeding broadly as projected in the Bank’s April Monetary Policy Report (MPR), with modest growth in major advanced economies and robust expansions in emerging economies.  The U.S. economy has grown at a slower pace than expected and continues to be...

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June's Labour Force Survey showed strong employment growth of 28,000 new jobs, the third consecutive monthly increase. The national unemployment rate remained unchanged at 7.4 per cent.  Unfortunately the strong employment growth did not extend to BC where payrolls, lead by a sudden drop in full-time jobs, fell by 9,400. However, a significant decrease in the BC labour force meant that even with jobs being lost last month, the unemployment rate fell to 7.3 per cent.

South of the border, today's...

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Home sellers outpaced buyers on Greater Vancouver’s Multiple Listings Service® (MLS®) in June, drawing the market back toward balance this summer.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 3,262 in June, a 9.8 per cent increase compared to the 2,972 sales in June 2010 and a 3.4 per cent decline compared to the 3,377 sales in May 2011.

New listings for detached, attached and apartment...

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