Friday, January 5, 2024

CURRENT STATISTICS The 2023 Victoria real estate market year in review

January 2, 2024  A total of 329 properties sold in the Victoria Real Estate Board region this December, 2.8 per cent more than the 320 properties sold in December 2022 and a 16.5 per cent decrease from November 2023. Sales of condominiums were up 14.9 per cent from December 2022 with 108 units sold. Sales of single family homes increased 1.3 per cent from December 2022 with 158 sold.

A grand total of 6,207 properties sold over the course of 2023, 8.77 per cent fewer than the 6,804 sold in 2022.  READ MORE

CURRENT INTEREST RATES

IN CASE YOU MISSED IT...
MORE REAL ESTATE NEWS

Financial Post

The whole story behind soaring rents and what it means to the Bank of Canada

Immigration and a housing shortage have frequently been cited to explain the soaring costs of rents in this country, but is that the whole story? Rent inflation accelerated to 7.4 per cent in November, one of the biggest contributors to the consumer price index.

REM

Realtor Cooperation Policy amendment now in effect: Here’s what it means

Yesterday, the Realtor Cooperation policy became effective. Created by the Realtor Code’s Duty of Cooperation (Article 30), the policy’s amendment will limit how exclusive listings can be marketed. It’s intended to improve professionalism and collaboration in Canadian real estate.

CREA - Canadian mortgage trends and factors in 2024

CREA - Home office oasis: Productivity-boosting designs and setup tips

CREA - Everything you need to know about gifted down payments

CBC News – Furnace or heat pump? Why not heat your home with both?

National Post – HOLMES: Renovation trends for a New Year

Globe and Mail – New rules target use of ‘exclusive’ real estate listings

Toronto Star – Only 26 per cent of Canadians could afford a single-family home right now, report finds

Storeys – New federal taxes that will affect real estate in 2024

Storeys – What experts are saying about real estate, interest rates in 2024

Canadian Mortgage Professional – What impact will interest rates have on Canada's house prices?

Canadian seniors are selling their homes later in life. What will this mean for the housing market? (Canadian Mortgage Trends)

To buy or not to buy: Young Canadians face tough choices on home ownership (Capital Current)

Mortgage market ‘heating up’ but homeowners still face ‘painful’ cost increase despite falling rates (Yahoo! News)

Home affordability in 2023 tanked to lowest level in 40 years (Yahoo! Finance)

Mortgage rates hold steady, but experts expect more declines in 2024
(Yahoo! Finance)

2023 Wrapped: Real estate edition

Tax saving strategies that maximizing benefits for homeowners

New year, new home: Why you should put your home first

Maintaining charm while renovating historic homes

Mortgages, inflation and immigration among top concerns for Canadians in 2024: Nanos survey (iHeartRadio)

Mortgage agent: Interest payments up 90% (CTV News)

Dr Sherry Cooper - December Jobs Report In Canada Not As Weak As Headline Suggests

Victoria Times Colonist – CRD seeks to increase borrowing limit for affordable housing

Here's what British Columbians will pay more for in 2024 (CTV News Vancouver)

Victoria Times Colonist – B.C. regulations for asbestos handling — a first in Canada — come into effect Jan. 1

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