Steve_Buchsbaum_194_avatar

Steve Buchsbaum

(604) 657-7877|steve@bchomesales.com
https://www.bchomesales.com/
westmar logo

June 2021 Market Update

 

New mortgage stress test rules take effect. Here's what you need to know.

Starting June 1, Canadian homebuyers will face tougher mortgage stress test rules that will decrease the buying power of most borrowers.

The move, announced by the country's banking regulator in May, was in response to an overheated market that has already started to see signs of cooling.

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

Kelowna

Ladner

Langley

Maple Ridge

Mission

Nanaimo

New Westminster

North Delta

North Surrey

North Vancouver

Parksville

Pitt Meadows

Port Coquitlam

Port Moody

Richmond

South Surrey/
White Rock

Squamish

Sunshine Coast

Surrey - Central

Tsawwassen

Vancouver - East

Vancouver - West

Victoria

Vernon

West Vancouver

Whistler

First-Ever Virtual ARThritis Soirée Sees Big Success

Arthritis Research Canada's annual signature event raised over $315,000 while boasting a virtual show to remember.

The 8th annual Soirée, which took place on May 27, included guests from across Canada and beyond – something that was not possible before the event went virtual.

READ MORE

 
 

B.C. Real Estate News

BRITISH COLUMBIA

Vancouver real estate: home sold for $14.6 million, other May 2021 deals show market "still in orbit" (Georgia Straight)

Douglas Todd: Vancouver realtor's advice on 'how to avoid foreign-buyers tax' points to larger problem (Vancouver Sun)

New B.C. land ownership transparency registry needs time to test its effectiveness: Advocate (Vancouver Sun)

B.C. float home residents live dream life on the water (The Georgia Straight)

Young homebuyers tread housing tightrope (Business Intelligence for B.C.)

New mortgage stress test rules may stabilize Canada's housing market: BMO (The Global News)

Prime Minister Justin Trudeau promises cities help to lower high cost of housing (CTV News)

Is improved consumer protection in B.C.'s housing market on the horizon? (Global News)

Real Estate Investing Part 4: commercial strata in B.C. (Western Investor)

LOWER MAINLAND

Most Vancouver first-time homebuyers worried about making down payments (Vancouver is Awesome)

Vancouver homes selling below asking prices and assessment suggest market "headed back to Earth" (Georgia Straight)

Home sales in Greater Vancouver "easing down from record peaks" but prices continue to increase (The Georgia Straight)

Metro Vancouver market highlights May 2021 (Real Estate Board of Greater Vancouver)

Sales, listings still strong in Vancouver real estate market, but slight cooling noted in May (CTV News)

New West deemed to be a millennial hot spot in 2021 (New Westminster Record)

Near record-breaking new listings in the Fraser Valley not enough to match insatiable buyer demand (Financial Post)

Burnaby real estate sales still on fire, but slowing down (Burnaby Now)

Raising interest rates to deal with Metro Vancouver home prices has pros, cons: expert (City News 1130)

Slight price uptick didn't deter May home sales in the Tri-Cities: report (Tricity News)

Public hearings set for pair of South Surrey apartment proposals (BC Local News)

WHISTLER & SQUAMISH

Developing Squamish: A conversation with a developer (The Squamish Chief)

Squamish council considers housing above fire hall (The Squamish Chief)

Airbnb extends 'global party ban' through end of summer 2021 (Pique News Magazine)

Council to hear update on Northlands rezoning (Pique News Magazine)

VICTORIA & VANCOUVER ISLAND

$1 million over asking: House prices in rising tide all over Vancouver Island (Vancouver Sun)

Vancouver Island real estate market calms slightly, but continues to sizzle (My Campbell River Now)

Shortage of Vancouver Island homes on market 'real issue': VIREB president (My Coast Now)

Benchmark value for single-family home now over $1M in Greater Victoria core (Times Colonist)

OKANAGAN

Mayor not surprised Kelowna is in the midst of a housing boom (Castanet.net)

Kelowna has 'broken over centre,' now a major destination for home buyers (infotel.ca)

Okanagan real estate boom fueled by housing supply shortage (Kelowna Capital News)

 
 

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.

©2021 Macdonald Realty Ltd. 2105 W 38th Ave, Vancouver, B.C. V6M 1R8 | macrealty.com