An economist says the Canadian housing market could be in for a rebound this year after a cautious 2023.
T-D Bank economist Rishi Sondhi says that optimism depends largely on the forecasts of the Bank of Canada cutting interest rates, which may begin as early as the second quarter.
Home prices softened in several areas late last year, including in the Fraser Valley.
Vancouver Realtor Tim Hill says he is optimistic of consumer sentiments slowly shifting as prices improve in recent months.
B-C United M-L-A Elenore Sturko says she and other lawmakers got an unwelcome Christmas gift this year from local drug activist Dana Larsen. Sturko says she was offended to receive a Christmas package containing psilocybin mushrooms and a coca leaf, which Larsen offers at local dispensaries.
The assessed value of a single-family home in Vancouver which reflected the market on July 1, 2023, rose four per cent to just above $2.2 million, while strata properties remained nearly unchanged at $807,000.
Data from Environment Canada has confirmed what winter sport enthusiasts have known for a while — December was warm in British Columbia. Five communities in the province set or equalled temperature records for the month while the warm weather, combined with a lack of rain or snow, has done little to ease ongoing drought concerns.
The Real Estate Board of Greater Vancouver says December home sales rose compared with a year earlier as the region closed out 2023 with balanced market conditions despite high borrowing costs. The board says 1,345 homes changed hands in December, a 3.2 per cent increase from the same month in 2022, but 36.4 per cent below the 10-year seasonal average.
TransLink says its new R-6 Scott Road RapidBus is now cruising the streets on what it calls the busiest bus corridor south of the Fraser. TransLink says the R-6 is geared toward Surry and Delta residents and Kwantlen University students, who can expect to shave a few minutes off their trips between Scott Road station and the Newton bus exchange.
One person died on New Year's Day in a house fire in Surrey. Mounties say four occupants of the house escaped and are being treated for non-life threatening injuries.