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BC HOUSING FORECAST FOR 2022

After a strong two years of price appreciation, Canadian home prices are said to increase significantly in 2022. While it’s not as intense as previous years, a new forecast is showing that Canada’s average home price is set to rise over 10% in 2022.  An increase in prices accompanied an increase in sales. CREA’s house price index reported a year-over-year increase of 25.3 per cent in...

BC`s GOVERNMENT TO INTRODUCE “COOLING OFF PERIOD” FOR RESIDENTIAL REAL ESTATE

The BC Government recently announced its intent to introduce legislation in Spring 2022 that will mandate a cooling off period for buyers of all residential real estate. A cooling off period gives buyers the right to withdraw from a purchase agreement within a specified time period after an offer has been accepted. Until now, BC's residential real estate had been functioning without a cooling off...

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