July 2024 Market Update

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Housing Affordability Will Improve, But Won't Soon Reach Pre-Pandemic Levels: Desjardins


With the Bank of Canada finally making a rate cut last month - the first one in over four years - Canada's realtors say that the country's buyers are slowly (key word) coming off the sidelines. With further rate cuts projected for 2024, the big question remains: When's a good time to buy? With home prices expected to rise as rates fall, will there be a sweet spot for prospective buyers to jump into the housing market?READ MORE


Click the link below to view the monthly market statistics for your area in an easy to understand infographic. Listings, sales and prices are summarized for condos, townhomes and single-family homes in cities across BC. For more up-to-date market information please visit macrealty.com/blog
Abbotsford
Bowen Island
Burnaby East
Burnaby North
Burnaby South
Cloverdale
Coquitlam
Greater Victoria
Kelowna
Ladner
Langley
Maple Ridge
Mission
Nanaimo
New Westminster
North Delta
North Okanagan
North Surrey
North Vancouver
Parksville / Qualicum
Pitt Meadows
Port Coquitlam
Port Moody
Richmond
Saanich Peninsula
South Okanagan
South Surrey/White Rock
Squamish
Sunshine Coast
Surrey - Central
Tsawwassen
Vancouver - East
Vancouver - West
Vancouver Island
Victoria Core
Westshore
West Vancouver
Whistler

Vancouver Events in July

From the Celebration of Light to the Bard on the Beach Shakespeare Festival, July's event calendar features exciting festivals and events perfect for Summer fun.READ MORE 

B.C. Real Estate News

MACDONALD REALTY IN THE NEWS

How The Capital Gains Tax Hike Could Affect Real Estate Development (STOREYS)Victoria mortgage broker predicts reduced interest rate may increase home buyers' confidence (Victoria Buzz)

LOWER MAINLAND

Vancouver home sales fall 19% in June as inventory continues to build: board (CTV News)Vancouver Housing Inventory Continues Accumulating As Hesitation Remains (STOREYS)Demand for rental units in Metro Vancouver is 'off the charts.' So why aren't more being built? (Vancouver Sun)Major housing markets favouring buyers, if they can afford it (Wealth Professional)Prices of most Burnaby homes dropped in June: report (Burnabynow)

VICTORIA AND VANCOUVER ISLAND

Real estate sales fall amid more choices on market (Times Colonist)

OKANAGAN

Proposed Kelowna neighborhood would rival Upper Mission in size (The Daily Courier)

BRITISH COLUMBIA

Fraser Valley home sales fall despite Bank of Canada rate cut (The Expositor)Rate Cut Not Enough To Spark Fraser Valley Market Activity In June (STOREYS)

CANADA

How Have Canadian Home Sales Changed Since 2020? (Investing.com)Canada's most and least affordable property taxes in 2024 (Real Estate Magazine)Toronto Home Sales Fell 16% In June, Vancouver Sales Declined 19% (Investing.com)