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Canada’s First-Time Home Buyer Incentive: Everything You Need to Know

The FTHBI is here. Learn how it can save you money on your first home purchase.

For the first time in years, Canada’s first-time buyers have a reason to feel optimistic. September 2, 2019, marked the launch of the Canadian Mortgage and Housing Corporation’s all-new First-Time Home Buyers Incentive (FTHBI), a financial incentive designed to help middle-class Canadians buy their first property.

The Perfect Time for the FTHBI

The timing for the FTHBI couldn’t be better. Beyond the First-Time Home Buyer Incentive itself, there are three key real estate factors that actually favour all buyers as we head into 2019, not just first-timers. Fixed mortgage rates remain at an all-time low. Most markets across the country are balanced or even a little soft. And maybe best of all buyers typically don’t buy homes in the lead-up to a federal election, giving first-time buyers some added leverage as markets slow before October 21.  Continue reading

Which Metro Vancouver areas are still seeing strong real estate sales?

Map of sales-to-active-listings ratios shows where the housing hot spots have been this spring; some remain seller’s markets

In the current slowing real estate market, it’s easy to read the headlines and imagine that sales are plummeting all over the region and it’s becoming a buyer’s market. But that’s not necessarily true of all areas – or all property types.

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BCREA – Stress Test Creating Pent-up Demand

Vancouver, BC
April 15, 2019. 

The British Columbia Real Estate Association (BCREA) reports that a total of 5,707 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in March, a decline of 23 per cent from the same month last year. The average MLS® residential price in the province was $687,720, a decline of 5.4 per cent from March 2018. Total sales dollar volume was $3.9 billion, a 27.1 per cent decline from the same month last year. Continue reading