Buyer cooling off period proposed to cool down the housing market. Here's the announcement details: https://news.gov.bc.ca/releases/2021FIN0070-002097?_cldee=cm9iam9obnNvbnJlYWx0b3JAZ21haWwuY29t&recipientid=contact-9ad653020f77e811a95a000d3af490cc-3312916ddc6641728b495d263dbe01c8&utm_source=ClickDimensions&utm_medium=email&utm_campaign=Member%20Update&esid=0425413c-be3d-ec11-8c62-000d3a09fb41
Here's an article in the Financial Post that does not support the government proposal to prevent "blind bidding" -
https://financialpost.com/opinion/paul-a-johnson-blind-bidding-isnt-the-problem-in-housing
Here's what's happening around the province ..... https://www.bcrea.bc.ca/economics/housing-market-update/
Posted by
Brendon Ogmundson
Chief Economist - BCREA
Here's the latest update. Click on the link below for the full report .....
"Elevated home sale activity continues to outstrip the supply of homes for sale in Metro Vancouver
Home sale activity remains elevated across Metro Vancouver’s housing market while the pace of homes being listed for sale continues to follow long-term averages.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,149 in September 2021, a 13.6 per cent decrease from the 3,643 sales recorded in September 2020, and a 0.1 per cent decrease from the 3,152 homes sold in August 2021.
Last month’s sales were 20.8 per cent above the 10-year September sales average. ....."
Download the September 2021 stats package.
Real Estate Board of Greater Vancouver
Great insight from our real estate board economist - Keith Stewart, Economist
Real Estate Board of Greater Vancouver
https://www.rebgv.org/news-archive/rebgv-q3-2021-housing-overview.html
"If you own land for the benefit of a corporation, a trust or legal partnership, you must check if you need to file with the Land Owner Transparency Registry. Pre-existing reporting bodies who are required to file must do so before November 30, 2021." Here's the link if this applies to you - https://www2.gov.bc.ca/gov/content/housing-tenancy/real-estate-bc/land-owner-transparency-registry
Here's another interesting article that talks about politians not addressing the housing supply. https://dailyhive.com/vancouver/flipping-housing-foreign-buyers-election?__vfz=medium%3Dsharebar
Written for Daily Hive by Trevor Hargreaves, Vice President, Government and Stakeholder Relations, BC Real Estate Association
