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.

Embracing gratitude isn't just about saying “thank you”; it's a lifestyle change that can significantly enhance your mental and emotional well-being. Studies show that people who regularly practice gratitude by acknowledging the good in their lives are happier, less stressed, and more resilient in the face of challenges.

Starting a gratitude journal, where you jot down a few things you're thankful for each day, can shift your focus from what's lacking to the abundance around you.

This simple act fosters a positive mindset, improves sleep, and strengthens relationships. In a world that often emphasizes what we're missing, choosing gratitude helps us appreciate what we have, making for a fuller, more satisfying life.

Canadian housing starts fell 0.8 per cent to 240,229 units in April at a seasonally adjusted annual rate (SAAR). Starts were down 8 per cent from the same month last year. Single-detached housing starts rose 2 per cent from last month to 53,895 units, while multi-family and others fell 2 per cent to 186,335 units (SAAR).

In British Columbia, starts fell 10 per cent from last month to 54,835 units SAAR in all areas of the province. In areas in the province with 10,000 or more residents, single-detached starts rose 11 per cent to 3,923 units while multi-family starts dropped 12 per cent to 48,609 units. Starts in the province were 10 per cent below the levels from April 2023. Compared to the same time last year, starts were up by 83 per cent in Kelowna, 69 per cent in Abbotsford, and 525 per cent in Victoria. In Vancouver, starts were down by 30 per cent from April of 2023. 

Link: https://mailchi.mp/bcrea/canadian-housing-starts-april-2024

For more information, please contact: Gino Pezzani.

Actively listed homes for sale on the MLS® in Metro Vancouver continued climbing in April, up 42 per cent year-over-year, breaching the 12,000 mark, a number not seen in the region since the summer of 2020. 

For more information, please contact: Gino Pezzani.

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

Vancouver, BC – May, 2024. The British Columbia Real Estate Association (BCREA) reports that 7,569 residential unit sales were recorded in Multiple Listing Service^® (MLS^®) systems in April 2024, an increase of 1.5 per cent from April 2023. The average MLS^® residential price in BC in April 2024 was up 1.4 per cent at $1 million, compared to an average price of $992,440 in April 2023. The total sales dollar volume was $7.6 billion, an increase of 3 per cent from the same time the previous year. 

"April was an above-average month for new listings activity, registering the highest pace since 2021," said BCREA Chief Economist Brendon Ogmundson. "Sales are still slightly below normal, which has led to a substantial increase in total inventory, though at a level still far below long-run balance. Ultimately, the market is heading into the summer in a state of relative calm with much more choice for buyers."

Year-to-date, BC residential sales dollar volume was up 9.5 per cent to $23.4 billion, compared with the same period in 2023. Residential unit sales were up 4.8 per cent to 23,507 units, while the average MLS^® residential price was up 4.5 per cent to $997,132. 

For more information, please contact: Gino Pezzani.

As spring heralds the arrival of a bounty of fruits and vegetables, it offers the perfect opportunity to capture the essence of the season in a jar through homemade preserves. From the tangy sweetness of strawberry jam to the savory depth of pickled asparagus, preserves allow us to savor the flavors of spring long after the season has passed.

Starting with strawberries, rhubarb, and early cherries, spring provides a plethora of options for jams, jellies, and marmalades. Embracing the art of preserving doesn’t just yield delicious results; it also encourages us to connect with our food sources, understand the rhythm of seasons, and reduce food waste.

If you are new to preserving, then such simple recipes as strawberry jam or quick pickles can be a great start. Remember, the key to great preserves is fresh, quality produce, so take advantage of your local farmers' market. Whether you're a seasoned canner or a curious novice, the process of preserving can be a rewarding way to engage with the abundance of spring.

Contrast Flavors: Combine contrasting flavors, such as sweet and sour, or salty and bitter, to create depth.

Mind the Texture: Mix various textures, such as crunchy with creamy, to enhance the eating experience.

Season Smartly: Use salt, acid, fat, and heat judiciously to elevate the main ingredients without overpowering them.

Add Freshness: Incorporate fresh herbs or a squeeze of citrus to brighten rich or heavy dishes.

Taste as You Go: Continually taste and adjust seasonings to ensure a harmonious balance in every bite.

Canadian employment rose by 90,400, or 0.4 per cent, to 20.491 million in April. The unemployment rate was unchanged at 6.1 per cent. Average hourly wages rose 4.7 per cent year-over-year to $34.95 last month, while total hours worked were up 1.2 per cent from April of last year.

Employment in BC rose 0.8 per cent to 2.871 million, while employment in Metro Vancouver rose 0.7 per cent to 1.627 million in April. The unemployment rate fell 0.5 points in BC to 5 per cent while falling in Metro Vancouver by 0.3 points to 5.3 per cent last month. 

Link: https://mailchi.mp/bcrea/canadian-employment-april-2024-may-10th-2024

For more information, please contact: Gino Pezzani.