Canada Mortgage and Housing Corporation is predicting home prices and sales will fall from last year's levels by December.
But the federal housing agency says the declines won't blunt much of the market's heat.
Chief economist Bob Duggan says home ownership will be less affordable in the near-term because of higher mortgage rates and high price levels.
He also expects rental affordability will likely decline as well.
The weather agency issued a heat warning today for much of the territory with temperatures expected to reach 28 C with nighttime lows of 13 C. The warning applies to Whitehorse, Old Crow, Dawson and other regions throughout the central, southern and western regions of the territory.
The board's chair Daniel John says the drop in sales came because buyers have more properties to choose from, but rising interest rates and 39-year high inflation are causing them to be cautious and thus, listings are staying available for longer.
The statement says the port will not discuss the phaseout of all trucks that are 20 years old or older, even though most commercially licensed trucks elsewhere in B.C. don't face similar measure
Three Saanich officers and three from the Victoria Police Department, all members of the emergency response team, were injured in the gunfight with two heavily armed robbers outside a Bank of Montreal.
The City was investigating a complaint from the World Sikh Organization of Canada that some of the City’s security guard contractors are not accommodating its employees who maintain facial hair for religious reasons and, therefore, cannot wear protective N95 respirators, which are required by public health directive in shelter settings where a COVID-19 outbreak is present.
Across Fraser Valley, in June, the average number of days to sell a single-family detached home was 21 and a townhome was 19 days. Apartments took, on average, 17 days to sell.