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��� Happy Holidays, everyone!
Wishing you a season filled with joy, connection, and moments that feel truly meaningful. Here’s to wrapping up the year with gratitude and stepping into the next with fresh energy and optimism.
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The B of C reduced its target once again for the overnight lending rate from 4.75% to 4.5%. The move was widely expected by markets and marked the Bank’s 2nd rate reduction since the onset of the pandemic four years ago, bringing rates down to where they stood in April 2023.
The British Columbia Real Estate Association (BCREA) reports that 8,075 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in May 2024, a 11.6 per cent decrease from May 2023. https://t.co/pybSUR4bfG
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,196,800. This represents a 4.5 per cent increase over March 2023 and a 1.1 per cent increase compared to February 2024.
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