Here is a quick explanation by the Vancouver Real Estate Board of the new transitional rules for HST/PST.

Government announces new HST/PST housing transitional rules
The government today announced the HST/PST transitional rules on new homes.As the province transitions back to the PST, which will replace the HST effective April 1, 2013, measures to ease the HST burden on new home buyers include: continue…

Selection broadens and demand eases to kick off 2012 in the
Greater Vancouver housing market

 

VANCOUVER, B.C. – February 6, 2012 – Greater Vancouver home sellers were more active than buyers in January and overall home prices, according to the new MLS® Home Price Index (MLS® HPI), continued to experience more stability and less fluctuation compared to the beginning of 2011. continue…

Balanced real estate market prevailed through much of 2011

The 2011 Greater Vancouver housing market began with heightened demand in regional hot spots and concluded with greater balance between seller supply and buyer demand.

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2011 reached 32,390, a 5.9 per cent increase from the 30,595 sales recorded in 2010, and a 9.2 per cent decrease from the 35,669 residential sales in 2009. Last year’s home sale total was 6.3 per cent below the ten-year average for annual Multiple Listing Service® (MLS®) sales in the region.

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The Greater Vancouver housing market saw relatively typical home sale and listing activity in November.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,360 in November. This represents a 5.9 per cent decline compared to the 2,509 sales in November 2010 and a 1.9 per cent increase compared to the 2,317 sales recorded in October 2011.

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Here is a great article by THE CANADIAN PRESS regarding the housing market in Canada. It certainly shows the strength of the Canadian Real Estate Market even through the economic problems around the world.

 

 

A real estate agent puts up a “sold” sign in front of a house in Toronto Tuesday, April 20, 2010. THE CANADIAN PRESS/Darren Calabrese

Michelle McQuigge, The Canadian Press, On Thursday September 15, 2011, 4:09 pm EDT
By Michelle McQuigge, The Canadian Press

TORONTO – The global economic turmoil that roiled stock markets around the world in August did little to dampen the Canadian housing market, which continued to show strong gains in sales and prices.
Analysts expressed universal surprise on Thursday that the wildly volatile swings on North American, European and Asian stock markets had little impact on housing, which for many years has been a pillar of economic growth in Canada.
While many analysts had expected a big slump — as Canadians felt poorer because of the stock losses and worried about a weak global economy — sales of resale houses remained steady and prices rose modestly in August.
The figures, released by the body that represents the bulk of Canadian real estate agents, suggest that the housing sector — propped up by low mortgage rates and solid regional economies — will continue to underpin growth in the national economy.

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Here is a great article forwarded to me by Lisa Holly of  Dominion Lending regarding  recommendations to increase interest rates.

The Canadian Press, On Thursday July 14, 2011, 4:10 pm EDT
By The Canadian Press

OTTAWA – The C.D. Howe Institute’s monetary policy council recommended Thursday the Bank of Canada raise its target for the overnight interest rate.

The group of economists recommended the central bank raise the key rate by a quarter point to 1.25 per cent at its rate announcement next week.

Bank of Canada governor Mark Carney is expected to keep rates on hold at one per cent when the announcement is made July 19.

“The principal theme of the group’s discussion was the contrast between the Canadian domestic scene, which most attendees felt justified a more restrictive stance by the Bank,” the think tank council said in a statement. continue…