KADREA CONNECT NEWSLETTER - FEBruary
We're excited to bring back the monthly KADREA Newsletter. Please feel free to share your ideas for future content.
A PATH TO HOME Campaign launched:
In February, we saw this month-long campaign become a reality. Active participation from REALTORS® was much appreciated by fellow change-makers at ASK Wellness, Canadian Mental Health Association, Elizabeth Fry Society and Weiser House.
KADREA presents Junior Dragon’s Den:
Junior Dragon's Den is an entrepreneurial journey for young kids who have big business ideas. In the month of March, 10 of these teams will be mentored by REALTORS to prepare the perfect 'pitch' to win at the event scheduled for April 04, 2019. KADREA is the title sponsor for this event.
KADREA AGM announced:
The 2019 Annual General meeting will be held on March 21, Thursday. The event will cover an introduction to the 2019 Board, the financial & director's report and minutes of last year's AGM & EGM. All KADREA members are requested to attend the meeting.
Visit Webforms® for Updates
Changes to CPS and other standard forms in effect February 28
Changes have been made under:
a. Contract of Purchase & Sale (residential) & (commercial)
b. Assignment of Contract of Purchase & Sale – New Development
c. Tenant Occupied Property – Buyer’s Notice to Seller for Vacant Possession
Read Details Here
Policy-Induced Housing Slowdown Continues into 2019
Feb 15: The British Columbia Real Estate Association (BCREA) reports: (provincial numbers)
- A total of 3,546 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in January, a decline of 33.2 per cent from the same month last year.
- The average MLS® residential price in the province was $665,590, a decline of 7.7 per cent from January 2018.
- Total sales dollar volume was $2.36 billion, a 38.4 per cent decline from the same month last year. Read Full Article
Canadian home sales improve between Dec 2018 and Jan 2019
Following highlights are National figures:
- National home sales rose 3.6% between December 2018 and January 2019.
- Actual (not seasonally adjusted) activity was down by 4% from one year ago.
- The number of newly listed homes edged up 1% month-over-month in January.
- The MLS® Home Price Index (HPI) rose 0.8% year-over-year (y-o-y) in January.
- The national average sale price fell by 5.5% y-o-y in January. Read Full Article
Housing Market Adjusts To Mortgage Stress Test
Feb 25: BCREA released the Housing Forecast Update in February and predicted that there will be a 2.1% increase in residential sales in 2019. Following are the insights from the report: (BC Forecasts)
- Residential sales numbers are further forecast to by 6.9% till 2020
- Average residential pricing to be around 716,100 in the province
- Kamloops is expected to see a 0.5% increase in total unit sales and 3.7% rise in average MLS® price as compared to the first quarter last year.
Read Full Report
- Brian Dunphy (Home Pro Inspections)
- Jeff Mitton (RoyalK)
- Sharon Sangha (C21 DH)
- Home Pro Inspections