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FROM JOSEPH
     
     Just as the market is feeling more confident, here comes another rate hike. Bank of Canada is poised to raise the interest rate for the fifth time this year. As you are reading this report, the policy rate should already be out. Check it out here.

How will this affect the real estate market? Well, we've already seen it many times this ye...

Yes, we'll talk about the elephant in the room. Interest rate. Last month, Metro Vancouver's real estate market reacted to the interest rate hikes by pumping out less transactions. We were actually at a whopping 23% drop below the 10-year June average. The month ended with only 2,444 homes changing hands on the MLS.

For now, we are not noticing bi...