Multiple Listing Service ® (MLS®) residential sales in the province are forecast to increase 4 per cent to 77,500 units this year. This reflects a slight downgrade from the second quarter forecast of 78,200 unit sales. Slower than expected economic...

growth will

Here are some examples of common products and services purchased by British Columbians and how they will be affected by the HST. This is not an exhaustive list of all goods and services. Input tax credits apply under the GST/HST to items purchased for use in business. For further information on input tax credits

As part of Canada’s Economic Action Plan, the Home Renovation Tax Credit will provide a one-year, temporary 15% income tax credit on eligible home renovation expenditures for work performed, or goods acquired between January 27, 2009 and February 1, 2010. The credit may be claimed on eligible expenses exceeding $1,000...

Canadian inflation jumped more than expected in February, reversing a five-month trend toward lower prices and calming concerns of deflation. Statistics Canada reported yesterday a sizable 0.7 per cent price increase from January to February and said the annual inflation rate

CMHC’s mandate since 1946 has been to provide safe, adequate and affordable homes to all Canadians. This year’s  Observer features an innovative examination of the dynamics of core housing need, based on data from the CMHC housing cost module in the annual Statistics Canada  Survey of Labour and Income Dynamics. This marks the first time that the movement of Canadians into and out of core housing need is examined. The 2008 Observer also discusses the challenges of providing housing in Canada's North and what is being done to respond to these challenges,  including innovations in design and materials to improve energy efficiency, to reduce construction time and costs, to improve the stability of foundations constructed in permafrost, and to make northern housing more culturally appropriate.

Residential sales through the Multiple Listing Service (MLS®) provide a significant contribution to BC economy. Every 100 transactions in 2007 generated nearly $4.2 million in economic output and $2 million in Gross Domestic Product (GDP). More than 102,000 homes were sold through the MLS® in 2007, totaling more than $4.3 billion in economic output and $2 billion in GDP. Home sales generate employment

"Weaker consumer demand and a large number of homes for sale are having an impact on home prices in the province," said Cameron Muir, BCREA Chief Economist. "Despite relatively strong fundamentals, consumer confidence is low. The global liquidity crisis and volatile equity markets are intensifying this sentiment, causing many households to pull back spending on major purchases."  "However, affordability is improving," added Muir. "The carrying cost of the average home

Currently, the market is seeing an increase in inventory, with properties sitting for longer periods of time; but as the analysis in this report will show, three of the six regional markets in BC are seeing values continue to increase despite the decrease in number of properties sold.