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Demand for Fraser Valley real estate remained elevated in August reaching the second highest sales ever for the month against a backdrop of decreasing supply.

In the face of a snap election, the state of the country’s housing situation, most notably foreign investment and ownership, has become a popular topic.

Housing starts decreased in July according to the Canada Mortgage and Housing Corporation (CMHC). Units fell from 293,085 in June to 286,620 last month.

This year’s soaring housing prices have pushed how long it will take aspiring homebuyers to save enough for down payments, as evidenced by new data.

New Zealand’s central bank announced plans to stiffen up mortgage lending standards, as the country continues to wrestle with its housing dilemma

Market activity in the Fraser Valley – both sales and new listings – softened in July, however buyers continued to significantly outnumber sellers resulting in inventory reaching the lowest for the month since 1981.

Home builders have been burdened with mounting material and labor costs. The Statistics Canada building construction price index saw a record a jump in this year’s Q2.

Canada’s housing market is hinting at a downtrend that is likely to lessen the sector’s impact on the country’s economy.

The country’s real estate inventory and availability has improved over the past couple months, alleviating some pressure on house prices.

The Bank of Canada is curtailing emergency stimulus as it declared yesterday that it would once again recede bond purchasing – a hint of its optimism in regards to economic recovery.