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November 2023 Market Update

 

Bank of Canada holds rate steady but warns more increases are possible - even as markets bet they're done

The Bank of Canada has decided to keep its benchmark interest rate steady at five per cent, the second straight time the central bank has done so and a sign it may be moving to the sidelines after raising the cost of borrowing 10 times since last year.

The move was widely expected by economists and investors who follow the central bank, after a slew of data points in recent months - from GDP, to jobs, to inflation itself — painted a picture of an economy that was slowing down.

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Click the link below to view the monthly market statistics for your area in an easy to understand infographic. Listings, sales and prices are summarized for condos, townhomes and single-family homes in cities across BC. For more up-to-date market information please visit macrealty.com/blog.

 

Abbotsford

Bowen Island

Burnaby East

Burnaby North

Burnaby South

Cloverdale

Coquitlam

Greater Victoria

Kelowna

Ladner

Langley

Maple Ridge

Mission

Nanaimo

New Westminster

North Delta

North Okanagan

North Surrey

North Vancouver

Parksville / Qualicum

Pitt Meadows

Port Coquitlam

Port Moody

Richmond

Saanich Peninsula

South Okanagan

South Surrey/
White Rock

Squamish

Sunshine Coast

Surrey - Central

Tsawwassen

Vancouver - East

Vancouver - West

Vancouver Island

Victoria Core

Westshore

West Vancouver

Whistler

6 simple ways to make a bedroom look more luxurious

Our simple ways to make a bedroom look more luxurious can help to bring a luxe, hotel-like quality to your sleep space, elegantly elevating the room to feel more special, stylish, and expensive.

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B.C. Real Estate News

LOWER MAINLAND

More Vancouver-area homes on the market, prices still increasing, real estate board says (CBC News)

Vancouver housing market more balanced after spring and summer slowdown: real estate board (CTV News)

Vancouver staff recommend raising the rents in affordable housing pilot program (CBC news)

BRITISH COLUMBIA

Will B.C.'s short-term rental laws come up short? (Richmond News)

Short-term rentals eating up 19% of B.C. housing availability: study (Times Colonist)

OKANAGAN

Okanagan's real estate listings could increase after new short-term rental rules (Global News)

CANADA

"We're Not Seeing The Decline In House Prices That We Would Expect": BoC (Storeys)

To buy, or not to buy: Renting in Canada is starting to look like a steal (DailyHive)

Average rent went up another 11% in past year - and even getting a roommate doesn't help much (CBC News)

 
 

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