Developers take note: Canadians increasingly want homes large enough to house several generations. According to a recent Coldwell Banker Real Estate LLC survey of its professionals across Canada and the U.S., realtors in both markets reported that in the past year more home buyers are looking for properties that can accommodate more than one generation. “The main reason is financial,” said Coldwell Banker Canada president John Geha, who Business in Vancouver caught up with late June ... Full Article...

The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province declined 4 per cent to 7,950 units in May compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province declined 11 per cent in May from April 2010. The average MLS® residential price climbed 7 per cent to $498,294 in May compared to the same month last year. “A slower pace of home sales combined with an in ... Full Article...

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The number of properties listed for sale in Greater Vancouver continued to rise in May, while the number of sales showed a year-over-year decrease. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,156 in May 2010, a decline of 10.4 per cent compared to the 3,524 sales in May 2009; 5.1 per cent more than the 3,002 sales in May 2008; and 27.1 per cent less than the 4,331 sales in May 2007. May 2010 sales also represent a 10 ... Full Article...

  The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly raised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal operating band of 50 basis points for the overnight rate. The global economic recovery is proceeding but is increasingly uneven across countries, with strong momentum in emerging market economies, some consolidation ... Full Article...