Gillette & Associates review of VIREB's March market statistics
Today the Bank of Canada raised the overnight rate by .25%, bringing the rate to .5%. While this is still low compared to rates in Canada in previous years, there is an expectation of a market shift. The last time that rates increased from .25% to .5% was June of 2010. At that time, the rate dropped to .25% in June of 2019 and stayed there for a year. In today’s market, we have been in a holding pattern with a rate of .25% since April of 2020, meaning that we have had almost 2 full years at the lowest interest rate.
Gillette & Associates February 2022 Market Statistics including average sale price and inventory levels for the Nanaimo real estate market
The cold weather is here, it's a good time to review the energy efficiency of your home.
A rapidly changing landscape both locally and across Canada remains a top concern.
Find critical insights on local and national trends to help navigate your Real Estate investments.
Do you have plans for Halloween?
As you drive around in Nanaimo you have likely noticed that more homes are decked out with Spooktackular displays this year. New data released from BC Hydro says people are starting to use the same amount of decorations for Halloween as they do for Christmas. So, grab that pumpkin spice latte with orange and black sprinkles, crank up The Monster Mash and head out for an evening Real Estate Spooktour!
Millennials now overtake Baby Boomers as America’s largest generation how will that affect housing.
Here in Nanaimo and elsewhere on Vancouver Island we are blessed with amazing stretches of shoreline both seaside, lakeside and riverside.
Our Coastal Waters are home to some of the highest populations of sea life on the planet. There is always a good chance of getting a glimpse of a Sealion or a Whale, so bring your camera and the waterproof pouch just in case!
Interest Rates – Consumer Confidence – Migration – Local Market Conditions
MARKET COOLS SLIGHTLY FOR SUMMER BUT HIGH DEMAND CONTINUES
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