header

July 2024 Market Update

 

Housing Affordability Will Improve, But Won't Soon

Reach Pre-Pandemic Levels: Desjardins

With the Bank of Canada finally making a rate cut last month - the first one in over four years - Canada's realtors say that the country's buyers are slowly (key word) coming off the sidelines. With further rate cuts projected for 2024, the big question remains: When's a good time to buy? With home prices expected to rise as rates fall, will there be a sweet spot for prospective buyers to jump into the housing market?

READ MORE

 

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

Vancouver Events in July

From the Celebration of Light to the Bard on the Beach Shakespeare Festival, July's event calendar features exciting festivals and events perfect for Summer fun.

READ MORE

 

B.C. Real Estate News

MACDONALD REALTY IN THE NEWS

How The Capital Gains Tax Hike Could Affect Real Estate Development (STOREYS)

Victoria mortgage broker predicts reduced interest rate may increase home buyers' confidence (Victoria Buzz)

LOWER MAINLAND

Vancouver home sales fall 19% in June as inventory continues to build: board (CTV News)

Vancouver Housing Inventory Continues Accumulating As Hesitation Remains (STOREYS)

Demand for rental units in Metro Vancouver is 'off the charts.' So why aren't more being built? (Vancouver Sun)

Major housing markets favouring buyers, if they can afford it (Wealth Professional)

Prices of most Burnaby homes dropped in June: report (Burnabynow)

VICTORIA AND VANCOUVER ISLAND

Real estate sales fall amid more choices on market (Times Colonist)

OKANAGAN

Proposed Kelowna neighborhood would rival Upper Mission in size (The Daily Courier)

BRITISH COLUMBIA

Fraser Valley home sales fall despite Bank of Canada rate cut (The Expositor)

Rate Cut Not Enough To Spark Fraser Valley Market Activity In June (STOREYS)

CANADA

How Have Canadian Home Sales Changed Since 2020? (Investing.com)

Canada's most and least affordable property taxes in 2024 (Real Estate Magazine)

Toronto Home Sales Fell 16% In June, Vancouver Sales Declined 19% (Investing.com)

 
 

This communication is not intended to cause or induce breach of an existing agency agreement.

**Should you no longer wish to receive this communication, please reply to this email with "Unsubscribe" in the subject line.

©2024 Macdonald Realty Ltd. 2105 W 38th Ave, Vancouver, B.C. V6M 1R8