Canadian prices, as measured by the Consumer Price Index (CPI), rose 4.4 per cent on a year-over-year basis in April, a slight increase from the 4.3 per cent rate in March. Month over month, CPI rose 0.7 per cent, in large part due to higher gasoline prices, which jumped 6.3 per cent from last month. Shelter costs were up 4.9 per cent year over year, driven by much higher mortgage interest costs (up 28.5 per cent from last year) along with higher rents (up 6.1 per cent from April 2022). The homeowner's replacement cost, which tracks home prices, was up just 0.2 per cent year over year. Grocery prices were up 9.1 per cent year over year, down from 9.7 per cent last month. In BC, consumer prices rose 4.3 per cent year-over-year.

After rapid success in bringing down inflation since last fall, month-over-month CPI figures came in hotter than expected in April. Even after stripping out the large jump in gasoline prices, CPI rose 0.5 per cent from March, corresponding to a 6 per cent annualized rate, while food and shelter costs continue to rise faster than a 6 percent annualized rate. The Bank of Canada's measures of core inflation, which strip out volatile components, each fell on a year-over-year basis while rising month-over-month. Markets continue to expect the bank to hold its overnight rate steady at 4.5 per cent at their upcoming meeting on June 7th. However, in the context of a still strong labour market and the early signs of a rebound in the housing market, these CPI figures suggest that the Bank of Canada is still not entirely out of the woods on inflation.

Link: https://mailchi.mp/bcrea/canadian-inflation-april-2023

For more information, please contact: Gino Pezzani.

Did you know that your brain needs time to fully wake up after you've been sleeping?

Researchers at the University of Colorado at Boulder have found that the groggy feeling we experience in the morning, called sleep inertia, can be just as impairing as being intoxicated!

This mental fog can last anywhere from a few minutes to an hour, depending on the person. So, if you're planning to operate machinery or maneuver through heavy traffic, it's best to wait at least one hour after waking up to do these activities to ensure you're alert and ready to go. Safety first, folks!

Canadian housing starts rose 22 per cent to 261,559 units in April at a seasonally-adjusted annual rate (SAAR). Starts were up 0.5 per cent from April of 2022. Single-detached housing starts fell 4 per cent to 53,843 units, while multi-family and others rose 32 per cent to 207,715 (SAAR). 

In British Columbia, starts rose by 18 per cent in April to 60,633 units SAAR in all areas of the province. In areas in the province with 10,000 or more residents, single-detached starts rose 14 per cent m/m to 5,676 units while multi-family starts rose 21 per cent to 52,420 units. Starts in the province were 13 per cent above the levels from April 2022. Starts were up by 13k in Vancouver, while declining by 2.9k in Victoria and 1.8k in Kelowna. Starts in Abbotsford were flat month over month. The 6-month moving average trend rose 5.3 per cent to 51.2k in BC in November. 

Link: https://mailchi.mp/bcrea/canadian-housing-starts-april-2023

For more information, please contact: Gino Pezzani.

Did you know that the largest living organism in the world is not a whale or an elephant, but actually a fungus? The Armillaria ostoyae, also known as the "humongous fungus," covers an area of 2,200 acres in Oregon's Malheur National Forest and is estimated to be about 2,400 years old.

This giant fungus, which primarily lives underground, is made up of a network of thread- like structures called mycelium that can spread over long distances and absorb nutrients from trees and other plants.

It's an incredible example of the diversity and complexity of life on our planet.   

As we celebrate Mother's Day, let us remember to acknowledge the remarkable gift that mothers possess - the ability to hear what is not said and notice what is not obvious. This gift is often overlooked, yet it is a defining characteristic of motherhood that deserves our attention and admiration.

Moms have a sixth sense that enables them to detect even the most subtle shifts in mood or hidden pain. Their intuition and empathy allow them to pick up on the signals that others might miss, and they are often there to offer a listening ear, a warm embrace, or a word of encouragement.

So, on this special day, let us take a moment to show appreciation for all the amazing moms who have made a difference in our lives. Let us thank them for their unwavering love and support, and let us cherish the invaluable lessons they have taught us through their remarkable gift of hearing what is not said and noticing what is not obvious.

To all the wonderful mothers out there, we salute you! Your love and dedication are truly inspiring, and we are in awe of your extraordinary gift.

Happy Mother's Day!

A mother's love is like a warm embrace,

Comforting and nurturing, full of grace.

She lifts you up when you are feeling low,

And helps you grow with every step you go.

A mother's wisdom guides you on your way,

Her gentle touch and words of hope each day.

She's always there, through thick and thin,

Her love and care, a treasure within.

So on this day, we celebrate her might,

The mother who holds our hearts so tight.

Her sacrifice, her endless love and care,

A mother's gift, beyond compare.

For the complete news release, including detailed statistics, click here.

Vancouver, BC – May, 2023. The British Columbia Real Estate Association (BCREA) reports that a total of 7,427 residential unit sales were recorded in Multiple Listing Service^® (MLS^®) systems in April 2023, a decrease of 17.7 per cent from April 2022. The average MLS^® residential price in BC was 995,506 down 5.6 per cent compared to the average price of close to $1.1 million in April 2022. The total sales dollar volume was $7.4 billion, representing a 22.5 per cent decrease from the same time last year. 

“BC home sales have now risen for three consecutive months, but that recovery in sales has not been matched by listings which continue to fall well below normal levels,” said BCREA Chief Economist Brendon Ogmundson. “As a result, average prices across the province are once again rising, recovering much of the decline since prices peaked early last year.”

Average home prices, while still down year-over-year, are rising on a monthly basis in most markets. The average price in BC has now risen for three consecutive months and is up over 9 per cent since the start of 2023.
 
Year-to-date, BC residential sales dollar volume was down 44.1 per cent to $21.4 billion, compared with the same period in 2022. Residential unit sales were down 37.1 per cent to 22,417 units, while the average MLS^® residential price was down 11.2 per cent to $954,984. 

For more information, please contact: Gino Pezzani.

This salad is full of fresh, seasonal flavors and packed with nutrients, making it a healthy and satisfying dish to enjoy during the spring.

Ingredients:

1 cup quinoa

2 cups water

1  pound asparagus, trimmed and cut into 1-inch pieces

2 tablespoons olive oil

Salt and pepper

1/4 cup lemon juice

2  tablespoons honey

1/4 cup freshly grated Parmesan cheese

1/4 cup chopped walnuts

2 tablespoons chopped fresh parsley

Instructions:

Rinse the quinoa in a fine-mesh strainer and transfer it to a medium saucepan. Add the water and bring to a boil over high heat. Reduce the heat to low, cover the pan and simmer until the quinoa is tender and the water has been absorbed, about 15– 20 minutes. Meanwhile, preheat the oven to 400°F (200°C). Line a baking sheet with parchment paper. In a large bowl, toss the asparagus with the olive oil, salt and pepper. Arrange the asparagus in a single layer on the prepared baking sheet and roast for 10–15 minutes, or until tender and lightly browned.

In a small bowl, whisk together the lemon juice and honey. Fluff the cooked quinoa with a fork and transfer it to a large bowl. Add the roasted asparagus, lemon juice mixture, Parmesan cheese, walnuts and parsley. Toss to combine. Serve warm or at room temperature.

They look exotic, like butterflies and ballerinas. They have faces like monkeys or figures like humans or long trails of petals like hair.

They smell like nothing or they smell of chocolate, vanilla, mint, pepper and roses. To a bee, they smell like a bee.

They are orchids and their fans are legion.

Orchid cultivation, one of the world's most-widespread hobbies, is surprisingly social. In every state and every country, orchid enthusiasts meet regularly to exchange tips and tricks for growing this flower that attracts every type of person, from farmers to attorneys. In fact, you can travel along “orchid trails” to visit the greenhouses of growers in every state. Travel destinations from California to Malaysia attract enthusiasts worldwide to see some of the 28,000 accepted species. In fact, more orchid species exist than species of birds and mammals. Only the number of species of bony fish come close to the number of orchids.

Because of their historical link with wealth and style, growing orchids is sometimes said to be expensive and difficult, but it really is neither. You can buy a stem for about $20 at a grocery store. The flowers are best grown in pots because the microscopic seeds require specialized conditions to grow. Orchids mostly require bright light, but not direct sunlight. They do require the grower's attention because they need water and airflow, but not too much; and some might need mist, but only at certain times. Orchids require a certain level of care and attention to thrive, which can provide a sense of accomplishment when they bloom successfully.

Spring is a wonderful time of year, with warmer weather and blooming flowers. However, for many people, it's also allergy season. Sneezing, runny nose and itchy eyes are just a few of the symptoms that can ruin this time of year. If you suffer from spring allergies, then here are five tips that can help alleviate your symptoms and make the most of this beautiful season.

1.   Keep windows closed: During allergy season, make sure to keep your windows and doors firmly shut. This simple step can help reduce the pesky allergens that enter your living space.

2.   Wear a mask: Keep the sneezes and sniffles away with a simple mask! Masks act as an effective barrier by keeping pollen particles from invading your nostrils.