April 1, April Fool's Day: A day for playful pranks and hoaxes celebrated worldwide. Also, Easter Monday in 2024 is on April 1 in Canada.

April 5, National Self-Care Day: Take steps to promote your physical and mental health.

April 10, World Siblings Day: A day to honor the special bond that siblings share.

April 22, Earth Day: A global day to support and advocate for environmental protection.

April 30, International Jazz Day: Recognizes jazz music's role in uniting people globally and promoting cultural dialogue.

To view the March 2024 Mortgage Rate Forecast PDF, click here.

Highlights:

• Canadian mortgage rates down sharply to start 2024.

• The Canadian economy – no recession yet, but growth is very slow.

• Waiting for the Bank of Canada to cut.

Spring, while a time of renewal and growth, can also bring its own set of health challenges, including allergies and changes in our bodies' responses to the warmer weather. To help you navigate this seasonal shift smoothly, here are five tips for staying healthy during spring.

These suggestions include traditional methods, a touch of Eastern medicine, and some lesser-known strategies to combat allergies and maintain overall well-being.

Stay Hydrated with Herbal Teas: As the weather warms, maintaining hydration is key. Opt for herbal teas such as nettle or peppermint, which can help alleviate allergy symptoms due to their natural antihistamine properties.

Incorporate Local Honey: Consuming local honey can potentially help build immunity against local allergens. The key is to start with small amounts well before allergy season peaks.

Practice Nasal Irrigation: Using a neti pot with saline solution can help clear out pollen from your nasal passages and reduce allergy symptoms. This practice, rooted in Ayurvedic medicine, is effective for sinus health.

Qi Gong for Immunity: The ancient practice of Qi Gong combines movement, breathing and meditation to enhance the flow of energy (Qi) in the body, boosting overall health and strengthening the immune system.

Focus on Anti-Inflammatory Foods: With spring's arrival, aim to eat more anti- inflammatory foods, such as leafy greens, berries and fatty fish. These types of food can help mitigate inflammation caused by allergies and improve overall well- being. Implementing these tips can help ease the transition into spring and make it a healthier, more enjoyable time.

While Metro Vancouver home sellers appeared somewhat hesitant in January, new listings rose 31 per cent year-over-year in February, bringing a significant number of newly listed properties to the market.

Learn more at www.GVRealtors.ca

For more information, please contact: Gino Pezzani.

Canadian prices, as measured by the Consumer Price Index (CPI), rose 2.8 per cent on a year-over-year basis in February, down from a 2.9% increase in January. Month-over-month, on a seasonally adjusted basis, CPI rose by 0.1 per cent in February. Excluding energy costs, CPI rose 2.9 per cent year-over-year in February, down from 3.2 per cent in January. Decelerating food costs also contributed to the slowing in the CPI, with prices of food purchased from stores rising by 2.4 per cent in February compared to 3.4 per cent in January. Shelter costs, however, continue to be a major driver of inflation, with mortgage interest costs up 26.3 per cent and rent up 8.2 per cent from the same time last year in February. Excluding shelter, consumer prices rose just 1.3 per cent, year over year. In BC, consumer prices rose 2.6 per cent year-over-year. The Bank of Canada's preferred measures of core inflation, which strip out volatile components, fell to between 3.1 and 3.2 per cent per cent year-over-year in February.

January's CPI report contained a second month unexpectedly good news. Canada's annual change in prices has now remained for two consecutive months within the Bank of Canada's 1 to 3 per cent target range. The last time this occurred was in early 2021. Despite a 4 per cent jump in gas prices, the CPI eased due to slowing price appreciation in other areas of the economy. Food price appreciation has been easing over the past 12 months and is now not far above historical norms, while other CPI components including cellular services have declined in price from last year. The category that remains the most challenging is shelter. Although the appreciation in mortgage costs looks to have peaked, rents in particular so far showing little sign of slowing. Overall, February was another encouraging report, and markets shifted their expectations of rate cuts forward slightly, with the odds of a cut in June increasing. However, the change in CPI will need to continue demonstrating a sustained trend towards 2 per cent over the spring before the Bank of Canada is comfortable cutting rates. 

Link: https://mailchi.mp/bcrea/bank-of-canada-interest-rate-announcement-y3ely6wsnh

For more information, please contact: Gino Pezzani.

Canadian housing starts rose 14 per cent to 253,468 units in February at a seasonally adjusted annual rate (SAAR). Starts were up 5 per cent from the same month last year. Single-detached housing starts fell 3 per cent from last month to 52,833 units, while multi-family and others rose 19 per cent to 200,638 units (SAAR).

In British Columbia, starts rose 49 per cent from last month to 46,411 units SAAR in all areas of the province. In areas in the province with 10,000 or more residents, single-detached starts fell 4 per cent to 4,585 units while multi-family starts jumped 65 per cent to 39,852 units. Starts in the province were 22 per cent above the levels from February 2023. Compared to the same time last year, starts were down by 28 per cent in Kelowna, 36 per cent in Abbotsford, and 8 per cent in Victoria. In Vancouver, starts were up by 82 per cent and in Nanaimo starts were unchanged from February of 2023. 

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

For more information, please contact: Gino Pezzani.

Canadian retail sales fell 0.3 per cent to $67 billion in January. Excluding volatile items, sales were up 0.4 per cent month-over-month. In volume terms, retail sales rose 0.2 per cent in January. Retail e-commerce trade rose by 3.5 per cent to $3.8 billion in January, amounting to 5.7 per cent of total retail sales.

Sales in BC fell 2.2 per cent in January. BC retail sales were down 2 per cent from the same time last year. In the CMA of Vancouver, retail sales were down 1.6 per cent from the prior month and were unchanged from January of 2022. 

Link: https://mailchi.mp/bcrea/canadian-retail-sales-january-2024-march-22-2024

For more information, please contact: Gino Pezzani.

As the first signs of spring begin to appear, few sights are as welcome as the cheerful bloom of the daffodil. Known for its vibrant yellow color and distinctive trumpet-shaped flowers, the daffodil is more than just a pretty face; it's a symbol of rebirth and new beginnings.

Originating in the meadows of Europe and North Africa, the daffodil, or Narcissus, has a long history that intertwines with human culture.

Canadian employment rose by 41,000, or 0.2 per cent, to 20.403 million in February. The unemployment rate rose 0.1 percentage points to 5.8 per cent. Average hourly wages rose 5 per cent year-over-year to $34.82 last month, while total hours worked were up 1.3 per cent from February of last year.

Employment in BC rose 0.2 per cent to 2.841 million, while employment in Metro Vancouver rose 0.2 per cent to 1.615 million in February. The unemployment rate fell 0.2 points in BC to 5.2 per cent while falling in Metro Vancouver by 0.5 points to 5 per cent last month.

Link: https://mailchi.mp/bcrea/canadian-employment-february-2024-march-8th-2024