World Environment Day, June 5: This day encourages global awareness and action to protect the environment.

Father's Day, June 16: Not an official holiday.

Juneteenth, June 19: A day to commemorate the end of slavery in the United States.

International Yoga Day, June 21: Creating awareness about the holistic nature of yoga and incorporating it into our daily lives.

Take Your Dog to Work Day, June 21: Celebrated annually on the Friday after Father’s Day.

Aboriginal Day, June 21: (NWT only).

Saint-Jean-Baptiste Day - Monday, June 24, 2024: (Quebec only).

To view the full interactive BCREA Housing Forecast, click here.
To view the full Commercial Leading Indicator PDF, click here.   

The BCREA Commercial Leading Indicator (CLI) fell 3.2 points to 145.5 in the first quarter of 2024, while the six-month moving average fell to 146.5. Compared to the same quarter in 2023, the index was down by 1 per cent. 

First Quarter Highlights

• The economic activity index declined in Q1. Inflation-adjusted retail trade (-1.7 per cent), wholesale trade (-2.5 per cent), and manufacturing sales (-5.3 per cent) each fell from the previous quarter, pushing the economic component down.

• Office employment (financial, insurance, real estate, and professional services) fell by 0.4 per cent in the first quarter, while manufacturing employment declined by 1.3 per cent. The employment component declined from the previous quarter, contributing negatively to the index.

• The financial component of the index also declined in the first quarter. Real Estate Investment Trust (REIT) prices declined by 8.5 per cent, pushing the component down. However, interest rate spreads declined for a second consecutive month, indicating lower borrowing costs for companies relative to the government amid expectations of forthcoming rate cuts. This offset some of the effects of declining REIT prices on the CLI, but on net, the financial component was still slightly negative.

For more information, please contact: Gino Pezzani.

In the imaginative realms of science fiction, advanced prosthetics like Luke Skywalker's iconic robotic hand, symbolize a future where technology integrates seamlessly with the human body. This future edges closer with each technological leap, notably the development of prosthetic hands that can sense temperature, marking a significant advance for amputees.

These prosthetics, equipped with temperature-sensing fingertips, bridge the gap between loss and recovery by allowing wearers to feel warmth or cold, mimicking the natural sensation of a biological limb. The innovation, known as MiniTouch, uses readily available electronic components, making it a viable option for enhancing existing prosthetic designs with heat-sensing capabilities.

As we venture into this new era, the promise of more sophisticated prosthetics looms on the horizon. The prosthetics market, already exceeding $8 billion, is poised for further growth with these sensory enhancements, turning science fiction dreams into tangible realities and improving the lives of millions.

The words of Paulo Coelho in "The Alchemist" serve as a beacon for anyone who is on the verge of pursuing a dream or has ever dared to dream: “When you want something, all the universe conspires in helping you to achieve it.”

This profound statement is not just a piece of advice; it's a statement that speaks to the heart of every dreamer.

Imagine that every star in the sky is a guide, every breeze whispers encouragement, and every obstacle is merely a stepping stone on the path to fulfilling your destiny.

Canadian retail sales fell 0.2 per cent to $66.4 billion in March. Excluding volatile items, sales were down 0.6 per cent on a month-over-month basis. In volume terms, adjusted for rising prices, retail sales fell 0.4 per cent in March.

After rising more than 1 per cent in February, retail sales in BC were down by 0.4 per cent in March and were down by 0.4 per cent from the same time last year. In the CMA of Vancouver, retail sales were down 0.1 per cent from the prior month and were up 1 from March 2023. 

Link: https://mailchi.mp/bcrea/canadian-retail-sales-march-2024-may-24-2024

For more information, please contact: Gino Pezzani.

Canadian prices, as measured by the Consumer Price Index (CPI), rose 2.7 per cent on a year-over-year basis in April, down from a 2.9 per cent increase in March. Month-over-month, on a seasonally adjusted basis, CPI rose by 0.2 per cent in April. The deceleration in headline CPI was driven by softening food, services, and durable goods prices, but was moderated by an uptick in gasoline prices (up 6.1 per cent year-over-year). Excluding energy costs, CPI rose 2.5 per cent year-over-year in April, down from 2.8 per cent in March. The shelter cost index remains the major driver of inflation with the rate of increases higher now (6.4 per cent) than they were this time last year (4.9 per cent). Mortgage interest costs were up 24.5 per cent and rent was up 8.2 per cent from the same time last year in April. Excluding shelter, consumer prices rose just 1.2 per cent, year over year. In BC, consumer prices rose 2.9 per cent year-over-year, up from 2.7 per cent in March. The Bank of Canada's preferred measures of core inflation, which strip out volatile components, fell to between 2.6 and 2.9 per cent per cent year-over-year in March. 

Canada's inflation rate continued to trend in the right direction in April, hitting the slowest rate of appreciation since March 2021. The Bank of Canada's preferred measures of core inflation, CPI median and CPI trim, have now been below the 2 per cent target for two consecutive months when measured on a 3-month annualized basis. Food costs also appear to be normalizing, and the overall food price index is essentially at 2 per cent. The main problem within the CPI basket is now almost exclusively the shelter component; rent appreciation in particular is troublingly high and the rate of increase continues to rise. Excluding shelter from the CPI index and comparing prices on an annualized 3-month basis, price appreciation in Canada has been close to zero for about half a year. Overall, this report contained yet more good news on inflation and will support the Bank of Canada's case to lower its policy rate in June. The next rate announcement is on Wednesday, June 5th. 

Link: https://mailchi.mp/bcrea/canadian-inflation-april-2024-may-21-2024

For more information, please contact: Gino Pezzani.

Feeling down or just in need of a quick pick-me-up? Boosting your mood doesn't always require a grand gesture or a significant life change.

Step into the sunlight. Exposure to natural sunlight can increase serotonin, a brain chemical linked to mood elevation. Just a few minutes outside can brighten your spirits.

Listen to upbeat music. Music has a powerful effect on mood. Play your favorite upbeat tunes to lift your spirits and get a burst of happiness.

Laugh. Watch a funny video, read a comic strip, or talk with someone who makes you laugh. Laughter triggers the release of endorphins, the body’s natural feel-good chemicals.

Move your body. A quick walk, a few stretches, or a mini dance session can release endorphins, improve circulation, and shift your mood positively.

Although magnesium is crucial for more than 300 biochemical reactions, it often goes unnoticed. It aids in stress and anxiety reduction, enhances sleep quality, supports bone health, promotes heart health, and helps control blood sugar levels. Because of its broad impact, magnesium supplementation can be beneficial, especially for people who get an insufficient amount of it from their diet, such as individuals with dietary restrictions or specific health conditions.

Although magnesium is found in such foods as leafy greens, nuts, and whole grains, supplementation might be necessary for optimal health. However, before starting any supplement regimen, consult with a healthcare professional who can offer personalized advice and ensure magnesium supplementation is safe and effective for your specific health needs.

Incorporating magnesium into your daily routine, whether through diet or supplements, can offer numerous health benefits.

This vibrant spring vegetable soup is a feast for the eyes and a boon for your immune system. Packed with a variety of vegetables, herbs, and spices known for their health benefits, it's gluten-free, vegan, and absolutely delicious.

Ingredients:

2 tablespoons olive oil

1 large onion, diced

3 cloves garlic, minced

2 medium carrots, diced

2 stalks celery, diced

1 small zucchini, diced

1 cup chopped asparagus

1 cup chopped kale or spinach

1 cup of canned chickpeas, rinsed and drained

1 teaspoon turmeric

1 teaspoon ginger, grated

6 cups vegetable broth (gluten-free)

1  teaspoon lemon zest

2  tablespoons lemon juice

Salt and pepper, to taste

Fresh parsley or cilantro, for garnish

Instructions:

Sauté veggies: In a large pot, heat the olive oil over medium heat. Add the onion, garlic, carrots, and celery. Sauté until the vegetables are slightly softened, for about 5 minutes.

Add more veggies and spices: Stir in the zucchini, asparagus, kale (or spinach), chickpeas, turmeric, and ginger. Cook for another 2–3 minutes until the spices are fragrant.

Simmer: Pour in the vegetable broth and bring the mixture to a boil. Once boiling, reduce the heat to low, cover, and let it simmer for about 20 minutes or until the vegetables are tender.

Final touches: Stir in the lemon zest and lemon juice. Season with salt and pepper to taste.

Let the soup simmer for an additional 5 minutes. ENJOY!

With the arrival of spring, our gardens beckon us to immerse our hands in the soil and nurture life from the ground up. During this season, let's embrace eco-friendly gardening practices that not only benefit our green spaces but also the planet. Sustainable gardening involves using resources in a way that doesn't deplete them, from harvesting rainwater for irrigation to choosing native plants that thrive in your region without excessive water or chemical fertilizers.

Composting, another cornerstone of eco-friendly gardening, transforms kitchen scraps and yard waste into nutrient-rich soil that can help reduce or eliminate the need for chemical fertilizers. Moreover, adopting integrated pest management (IPM) strategies can minimize the need for pesticides, focusing instead on natural pest-control methods and promoting biodiversity in your garden.

Creating a pollinator-friendly garden by planting a variety of flowers that bloom at different times of the year can support local bees, butterflies, and other pollinators. By adopting these sustainable practices, we can cultivate our gardens in harmony with nature and foster a healthier environment for future generations.