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  1. Scarcity in the market is now one of the most challenging in the country due to pandemic

    Metro Vancouver businesses grapple with industrial market vacancy rates Joanne Lee-YoungThe Vancouver Sun They are looking out as far as two years in advance of leases expiring, and more are pre-leasing or purchasing pre-sale industrial strata units.  Construction site in Campbell Heights in Surrey on June 6, 2022. Mike Bell/PNG The vacancy rate for industrial […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    05-06-2022
    Real Estate Related

  2. 39% decline in May sales compared with the same time last year | TRREB

    Home sales across Canada – whats the latest? Fergal McAlindenother Still, the news indicates a “correction” rather than a crash is taking place, says prominent industry member  After the homebuying blitz of the past two years, Canada’s housing market continues to cool with major cities continuing to post declining monthly and year-over-year home sales. The […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    05-06-2022
    Real Estate Related

  3. Home sales in Vancouver calmer in May as interest rates cool market

    Finally, market for detached homes in Greater Vancouver enters balanced territory Carlito PabloThe Georgia Straight  Statistically speaking, the market for detached homes in Greater Vancouver has balanced. Based on the recent report by the real-estate board, the sales-to-active-listings ratio for single-family homes in May 2022 shifted to 18.3 percent. The general rule is that a […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    05-06-2022
    Real Estate Related

  4. Alarming rate as hot demand for housing leads sold for redevelopment

    Push is on to hike costs for Vancouver developers wanting to convert SROs Sarah GrochowskiThe Vancouver Sun Councillor Jean Swanson is proposing a bylaw change that would bill developers more than $500,000 for each unit of social housing they convert, alter or demolish  Demolition of the Winters Hotel, destroyed during a fire April 11, was […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    04-06-2022
    Real Estate Related

  5. Vancouver area overall dipped to $922,000 in May

    Ranking: These Metro Vancouver cities saw biggest real estate price dips due to rising interest rates Kendra MangioneThe Province A just-released report on rising interest rates is giving would-be home buyers and sellers an idea of the impact already being seen in the Vancouver area, and the results vary by city.Brokers with HouseSigma say the […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    03-06-2022
    Real Estate Related

  6. 2.17 acres of retail strip sells for $4.23 Million located in 5401 43 Street, Bonnyville, Alberta

    Bonnyville 2.1-acre strip retail sells for $4.2 million Avison YoungWestern Investor Retail strip of 9,327 square feet, leasable, is centrally located and fully leased in Bonnyville, Alberta. Avison Young, Edmonton, for Western Investor Property type: Retail Location: 5401 43 Street, Bonnyville, Alberta Property size: 9.327 square feet (leasable). Land size: 94,525.2 square feet Land size […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    03-06-2022
    Real Estate Related

  7. Greater Vancouver home sales down 31.6% from May of 2021, 9.7% from April of this year | REBGV

    Metro Vancouver house prices cut as sales dip, listings increase Frank O’BrienWestern Investor ‘Calming market’ in May spooks some home sellers as transactions fall, listings rise and asking prices start to slide3831 Royalmore Avenue, Richmond: detached house was listed in May at $1,798,000; on June 1 the asking price was reduced to $1,599,800. | REW.caMay […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    03-06-2022
    Real Estate Related

  8. BoC’s report new rate of 1.5%, an increase of 50 basis points

    More Balanced Market Providing Buyers with Negotiating Power: TRREB Patti Cosgareaother  The month of May saw a dip in sales on a monthly and annual basis as buyers and sellers alike eagerly awaited Bank of Canada’s announcement, in which it reported its new rate of 1.5%, an increase of 50 basis points.  Read: Top Real […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    02-06-2022
    Real Estate Related

  9. B.C. ran into issues with some of the local contractors they used.

    Contractors sued for “deficient” work on Kelowna tower Nicholas Johansen Western Investor High-rise suffered from shoddy drywall and railing work, claims developer of 14-storey, 91-unt Ellis Park residential tower  Ellis Park in downtown Kelowna was completed in 2020. | Nicholas Johansen The developer of a 14-storey residential tower on the corner of Ellis Street and […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    02-06-2022
    Real Estate Related

  10. BoC increase interest rates by 0.5 percent up to 1.5 percent

    BMO says rapid rise in interest rates forces Canadian housing market into “full retreat” Carlito PabloThe Georgia Straight  The chief economist of BMO seems to suggest that the Canadian housing market is currently on shaky grounds. Douglas Porter brought up the notion as part of a broader take about the economies in the U.S. and […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    02-06-2022
    Real Estate Related

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