🚫 British Columbia hatches $2-billion loan plan to boost homebuilding 🏠
Andy Schildhorn • February 20, 2024
British Columbia’s government launched a program to accelerate the construction of thousands of affordable homes, backed with a $2 billion lending commitment and $950 million in spending. Find out more here.
SURREY, BC – The Fraser Valley market showed early signs of a spring thaw in February, with sales increasing over January, but continuing to trail typical levels for this time of year. The Fraser Valley Real Estate Board recorded 843 sales on its Multiple Listing Service® (MLS®) in February, a 36 per cent increase from January, but 38 per cent below the ten-year seasonal average. New listings declined nine per cent in February to 2,796, suggesting some sellers are choosing to wait amid competitive inventory levels, and may be positioning their homes for the peak of the spring market.
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The economics of building new homes in Canada are now "simply broken," sparking a macroeconomic drag that CIBC economists warn is just beginning to take hold. 👉 Details Here
