Wednesday, June 6, 2012

Rain Gardens: Improve Stormwater Management in Your Yard

Stormwater refers to rain and melted snow and ice. Stormwater runoff from your roof, driveway and other hard surfaces in your yard is typically directed towards the street and into the municipal storm sewer system. This stormwater runoff, which has picked up harmful substances such as road salt, heavy metals and oils, ends up in streams, lakes or other water bodies, where it can harm water quality and aquatic habitat. Meanwhile, water used for lawns and gardens is drawn from the local drinking water supply.

There are several ways that you can reduce runoff and better use stormwater in your yard while ensuring proper drainage. One relatively easy and attractive method is a rain garden.
A rain garden is a planted or stone-covered bed specifically designed to receive stormwater and allow it to be slowly absorbed into the soil (infiltration). This About Your House provides information on designing and building a rain garden, as well as tips for improving stormwater management in your yard.

Let Nature Inspire You

In the natural hydrologic cycle, stormwater slowly infiltrates into the soil. There, it is naturally filtered and cleansed of some pollutants, is used by plants and replenishes the water table. Stormwater also falls directly into water bodies or gradually reaches them over land or through the shallow water table.
In contrast, stormwater runoff in settled areas usually flows quickly from hard surfaces, such as roofs and driveways, into sewers that eventually empty into water bodies. The increased volume and frequency of high flows can cause erosion and related sedimentation in receiving lakes and rivers. Along the way, the water also picks up polluting substances, such as de-icing salt, grease, oil, animal wastes, excess sediments, pesticides and fertilizers. In areas with combined storm and sanitary sewers, the system can sometimes become overloaded, so that untreated sanitary sewage overflows into natural water bodies. All of these factors can harm water quality, habitat for aquatic species and the stability of shorelines and riverbanks. They also increase municipal costs to convey and treat stormwater.
There is a growing trend towards designing municipal stormwater systems to work with natural processes. These systems involve the use of wetlands and other methods that allow water to soak into the ground, filter pollutants and slow the flow of water before it enters water bodies.
Rain gardens are one way that you can reduce runoff and let stormwater soak slowly into the ground in your home landscape, just as it does in nature. Rain gardens are shallow depressions or low-lying areas that are designed to capture and absorb stormwater fairly quickly and dry out between rainfalls. When planted, they can also provide habitat for birds, butterflies and other fauna.
Steps in Designing a Rain Garden

Rain gardens are relatively easy and inexpensive to design and build, but there are a few considerations to ensure that they function effectively. The two most critical technical considerations are:
  1. Water must infiltrate and not stand in the bed for more than two days.
  2. Water should not create drainage problems on your property or neighbouring ones.

Beyond that, rain gardens can be naturalistic or more manicured, can include a variety of plants, and can be in various shapes.

Find a Suitable Location

Observe the drainage area and paths along which stormwater naturally runs in your yard. Place the rain garden at a low point or at a location somewhere along the natural flow path. If your yard is relatively flat and evenly drained, you can create a depression anywhere, following the guidelines below.

To ensure that water will not simply run over the lower edge, rain gardens need to be as level as possible. If possible, avoid slopes greater than 12 per cent, as they will make it more difficult to create a level garden. If you have no other choice, you can cut and fill a steeper area, as described in the “How to Install a Rain Garden” section, but you will need to ensure that the sides are adequately stabilized.

How to Measure a Slope

Slope is the ratio of the length of the rise (the vertical change) to the length of the run (the horizontal change). Here is a simple way to measure slope:

  • Place a carpenter’s level on a 2 x 4 wooden board situated on the ground along the slope you want to measure and lift the lower end until the board is level (see Figure 3).
  • To determine the rise, measure the distance from the ground to the bottom edge of the board at the end of the slope.
  • The run is the length of the board from the end to where you measured the rise.
  • Divide the rise by the run to obtain the per cent of the slope. For example, if the rise is 5 cm and the run is 2.5 m the slope is 0.05 m ÷ 2.5 m = 2%.
To avoid creating moisture problems, you will need to direct stormwater away from vulnerable areas, such as your house foundation, septic beds or neighbouring homes. Place your rain garden at least 4 m (13 ft.) away from such areas. Also avoid placing rain gardens over underground utility pipes or wires.

Drain Water Away From Your House

Ensure that stormwater is directed away from your house foundation. Follow the tips in Chapter 4 of CMHC’s Landscape Guide for Canadian Homes. The Guide also describes drainage considerations around your main activity areas and neighbouring properties.

Rain gardens do not work well on clay soil because drainage in clay is slow. Look for a spot with soil that is sandy, gravelly, loam or a mix that can include up to 10 per cent clay. If your soil has a higher clay percentage, you can add sand, fine gravel and/or organic matter to improve permeability.

Compacted soils are also relatively impermeable, so you will need to loosen them before building a rain garden. Ensure that the soil is permeable to a depth of between 0.6 – 1.2 m (2 – 4 ft.) below the rain garden. Refer to "Get to Know Your Soil" in CMHC’s About Your House series for tips on analyzing and amending your soil.

The surface of the depression should be at least 1 m (3 ft. 3 in.) above the seasonally high shallow groundwater table. To determine where the shallow water table is, in dry weather dig a small test pit and see if it fills with water. Or, you can ask if your municipality has information about your neighbourhood’s shallow water table. If the shallow water table is close to the surface, find a location on higher ground or abandon the idea of a rain garden.

Along with catching water from other areas in your yard, rain gardens are often designed to capture roof runoff via a downspout extension, a swale or an underground pipe. If you want your rain garden to capture roof runoff, look for a convenient location.

Locating your rain garden in full sun or partial shade will let you choose the widest selection of plants. You can consider a shady area if you select plants that are tolerant of shade. If your preferred location has trees that can tolerate occasional flooding, a woodland rain garden is an option.

An existing depression in your yard could function as a natural rain garden. If needed, you can make some enhancements, such as replanting with suitable plants or adjusting depth or size so it can hold more water. If the depression tends to hold water for more than two days, you will also need to improve the soil's drainage capacity as discussed above, or find another location with better drainage.

Determine Depth and Size

Determining the ideal depth and size for a rain garden is not an exact science, and various authors suggest different methods. Your rain garden will likely function well if you make a reasonably accurate estimate of the two most critical factors — the amount of stormwater that will be captured (inflow) and how quickly it will be absorbed. The depth and sizing method described below is based on these two factors.

The depression will need to be shallow enough to ensure that water will not stand for more than two days, but deep enough to hold the anticipated amount of water. A general guideline for depth is 7.5 cm (3 in.) in soils with relatively low infiltration rates (for example, loam) and up to 15 cm (6 in.) in soils with high infiltration rates (for example, sandy or gravelly soils). To ensure that there is adequate space in shallower depressions, the size of the garden will be adjusted for various soils, as discussed below.

To determine the size, follow these three steps.

1. Determine Inflow

i.                        Estimate the area in square metres of the section of your roof that will drain into the downspout, plus the area in square metres of other hard surfaces, such as driveways or patios, that will drain into the rain garden. Next, estimate the area of lawn that will drain into the garden and multiply that figure by 20 per cent1. The size of the roof area plus other hard surface areas plus 20 per cent of the lawn area draining into the rain garden is the total drainage area (in square metres). For example, the total drainage area might be 170 m2.

  1. Estimate the amount of precipitation that will flow into your rain garden over a 24-hour period. Some municipalities set rainfall capture targets, so check with your municipality’s public works department. If there isn’t a municipal target, set your own based on average local precipitation. Your municipality may have precipitation data for your region; if it doesn’t, this information can be obtained from Environment Canada. An example of a target is 25 mm over 24 hours. Targets will vary from region to region and can be as low as 5 mm over 24 hours.
  2. Multiply the drainage area in square metres (Step i) times the rainfall capture target in metres (Step ii). For example, a rain garden that will capture 25 mm of rain over 24 hours from 170 m2 of drainage area must hold 170 m2 x 0.025 m = 4.25 m3 of water over 24 hours.

2. Determine the Infiltration Rate of Your Soil

For example, if the rate is 15 mm per hour, it will absorb 360 mm of water over 24 hours. Convert the figure to metres (in this case, 0.36 m). See text box.

3. Calculate the Area

Divide the estimated inflow (Step 1) by the infiltration rate (Step 2). Using the example above, the rain garden would need an area of 4.25 m3 ÷ 0.36 m = 11.8 m2.

Soil Infiltration Rate

Knowing the permeability of your soil is essential when installing a rain garden. Sandy soils are highly permeable with a minimum water absorption rate of 210 mm per hour. The minimum absorption rate for sandy loam is 25 mm per hour. For loam, the minimum absorption rate is 15 mm per hour. In clay soils, absorption rates can be as low as 1 mm per hour. You can test the permeability of your soil by digging a small test pit, filling it with a known quantity of water and observing the time it takes for the water to be absorbed.

Rain gardens are designed for average annual precipitation levels. Occasionally, there will be a heavy rainfall and, less often — once every 25 to 100 years — an extremely heavy rainfall. Occasional overflow of your rain garden will most often be accommodated by your own yard and the municipal storm system. If there is any possibility that overflow could cause drainage problems in neighbouring areas, include an overflow system. This can be as simple as an in-ground perforated pipe or shallow swale that is directed towards a less vulnerable area, or an area that drains into the municipal storm system. You can also reduce the frequency of overflow by slightly increasing the size of the rain garden or the depth of permeable soil, or both.

Although following the steps for sizing will give you the optimum size, you can change the size to better suit your yard, your budget or maintenance. You can reduce the size by increasing the depth of permeable soil, decreasing the area that contributes to inflow, or creating more than one rain garden.

Determine the Shape

To capture as much stormwater as possible, a rain garden should be at least 1.5 times longer than it is wide (length is defined here as the face at a right angle to the slope). The 11.8 m2 rain garden in the example above should measure approximately 4.2 m x 2.8 m. Again, if site conditions do not allow for the optimum size, you can adjust as needed.

Many people prefer the appearance of soft, round edges to hard, square edges, and kidney or oval shapes, but you can create any shape that suits your taste and your yard.

Select Plants and Stones

Select perennials, shrubs, grasses or ferns, or all, that can tolerate both wet and dry conditions. Choose plants that are adapted to your region and your specific soil and sunlight conditions. Native plants are well adapted to local conditions and are therefore generally preferred for rain gardens. Non-native plants can also be used, but avoid invasive species (see "References and Resources"). For an attractive garden that will bloom for much of the season, also bear in mind plant heights, colour and bloom time. See the plant list in CMHC’s Landscape Guide for Canadian Homes for help choosing plants.

You can install herbaceous plants (species that are not woody), like perennials, as plugs, potted plants or seeds. Plugs or potted plants will create an instant garden and are easier to grow and more predictable than seeds. Seeds don’t cost as much, but it can take up to three years for the garden to fully fill in. A seed mix can be customized for your conditions, or you can use a shoreline or wet-dry meadow/prairie mix if your local native seed supplier offers it. You can plant shrubs from pots, as bare root seedlings and, in some cases, as cuttings.

Or, you can line the bottom of the rain garden with loose, hard materials, such as pebbles or river stone. A stone-lined rain garden will mimic a stony stream bed, adding a unique feature to your yard (see Figures 4 and 5). You can also include plants in a stone-lined rain garden. To add esthetic appeal, edge the pond with materials such as brick or stone. You can also add a focal element, such as a large rock or a sculpture.
How to Install a Rain Garden

The best time to build a rain garden if you are working with plugs or potted plants is mid-spring, after the thaw, when the soil is most likely to be moist and fairly easy to dig. Plants will benefit from spring rains. Although you can build a rain garden in summer, you may need to water the plants far more often until they are established.

If you are seeding the bed, the best time to install your rain garden is mid-spring or late fall. Seeding in late fall allows the natural, freeze-thaw cycles to work. They help many native seeds germinate without pre-treatment. Ask your seed supplier if any pre-treatment of native seed is required for spring sowing. Shrubs can be planted in either spring or fall, depending on the species.

Begin by laying out the shape and size of the bed with a rope or garden hose. Remove existing lawn with a sod cutter, garden spade or edging tool, being sure to remove all pieces of root. If you have enough lead time, you can smother grass or other plants with heavy black plastic anchored down with rocks and left on for at least two months during the previous growing season. Remove the plastic before digging the bed.

Call Before You Dig

Before digging any test pits or depressions in your yard, locate buried wires and pipes. Call your local service providers for assistance.

Dig the bed to the required depth, as described earlier in the “Determine Depth and Size” section. Remove any remaining roots of former plants or lawn. If you need to improve the drainage of the soil beneath the surface, continue to dig and add other amendments, such as sand, fine gravel or organic matter, to a depth of 0.6 – 1.2 m (2 – 4 ft.). A small backhoe can be helpful if you need to dig beneath the surface. To help the new plantings establish themselves, add compost and work it into the top few inches of soil.

If you dig into a slight slope, use a carpenter's level to help you keep the bed level. Soil from the higher side of the slope can be used as fill for the lower side. On a slope, you will also need to build a low berm along the lower side of the slope edge to retain the water (see Figure 5). The berm can be constructed with soil that you removed from the upper side and covered with a variety of plants or lawn. Gently slope both sides of the berm and compact it by stomping on it. Sod, seed or plant the berm immediately and temporarily cover with a straw mat or straw mulch to prevent erosion.
You can run a roof downspout extension directly into your rain garden. To prevent erosion, install a small bed of pebbles or a concrete splash pad under the end of the extension.

If needed, dig and install an overflow pipe or swale on the lower side of the garden. You can place your downspout extension in the garden. To prevent erosion in the garden, place a small bed of pea gravel or decorative pebbles, or a concrete splash pad, under the extension (see Figure 6). Or, the downspout can discharge onto a lawn area that drains into the rain garden.

Rake the bed so that it is fairly smooth. Use standard planting or seeding methods. See CMHC’s Landscape Guide for Canadian Homes for advice and tips.

If you are covering with stone, place a layer of filter fabric on the surface, then place the stone. To plant among the stones, slit the fabric.


Minimize Impermeable Surfaces


To reduce runoff and beautify the property, the homeowners reduced the size of their driveway by more than 60 per cent by replacing it with plantings. They changed the material on the remaining driveway from asphalt to precast concrete pavers.

Minimizing the amount of impermeable surface area on your property is another way to reduce stormwater runoff and allow water to soak into the ground. You can start by limiting the number and size of hard surfaces to only those needed for your household's regular activities (see Figure 7). You can also combine various uses on hard surfaces. For example, a driveway or patio can double as a footpath.

You can also use porous paving materials that allow infiltration. Where possible, use loose materials, such as decorative pebbles or crushed brick. Where you need a firmer surface, consider using precast concrete pavers with wide gaps. They are designed specifically for stormwater infiltration. Also fill gaps between patio stones or pavers with sand or fine gravel instead of concrete.

On driveways, you can install two strips of paving spaced for the wheels of your car or other vehicles, and plant grass or a low groundcover in the spaces between the strips.

How to Maintain a Rain Garden

Keep the soil moist during the first growing season. If there is little or no rain, you will need to water with a one-hour trickle at least once a week for the first three weeks. Subsequently, water during hot, dry weather. Plants grown from fall seeding will also need to be watered in drought conditions the following season. If you have selected plants that are suited to the soil and moisture conditions, plants in the rain garden should not need to be watered once they are established.

For the first two or three years, you will need to remove weeds regularly. Some desirable native plants may migrate to the site, so try to identify the species before you remove them. You can hand-pull weeds, being careful not to disturb new plantings. Pull weeds when they are immature, before they go to seed. Weeds are easier to pull when the soil is moist. Once the garden has filled in and a root mass has formed, you won’t have to weed as often.

Once the rain garden is established, you can occasionally add compost. Plants that are adapted to sandy or gravelly soil tend to prefer nutrient-poor conditions, so compost should be added only if it appears necessary. To control insects and disease, it is best to use low-impact manual or non-synthetic controls whenever possible. For more information on maintenance, refer to "References and Resources" or to CMHC’s Landscape Guide for Canadian Homes.

Aerate the soil occasionally to ensure it does not become compacted. If over time you find that water is standing in the bed too long, the easiest solution is to make the garden larger or create a second rain garden to catch some of the water. You can also make the depression deeper or further amend soils to improve permeability, but both of these options will require removing and transplanting plants.

Once established, your rain garden should provide many years of enjoyment with little maintenance. You can derive added satisfaction from knowing you are contributing to a healthier natural environment.


Home Price Index


According to statistics released in May by The Canadian Real Estate Association (CREA), the MLS® Home Price Index, the leading measure of Canadian home prices, increased in April 2012.

Highlights:

  • The Aggregate Composite MLS® Home Price Index in April 2012 was up 5.2% year-over-year.
  • Toronto again posted the largest year-over-year increase (7.9%), with more modest gains in Calgary (4.0%), Vancouver (3.7%), the Fraser Valley (2.7%), and Montreal (2.3%).
  • Year-over-year price gains accelerated in April in Toronto and Calgary but slowed in Vancouver and the Fraser Valley and were little changed in Montreal.
  • Single family home prices again posted the biggest gains (6.4%), with apartment unit and townhome sales making more modest headway (3.6% and 2.7% respectively).

The MLS® Home Price Index (MLS® HPI) rose 5.2 per cent year-over-year in April 2012. The increase was similar to those for the previous two months and among the smallest since last August. However, the moderation in overall price gains in recent months masks diverging trends among the major Canadian markets.

In April, the MLS® HPI again posted the largest year-over-year increase in Toronto (7.9%), followed by Calgary (4.0%), Vancouver (3.7%), the Fraser Valley (2.7%), and Montreal (2.3%).

Year-over-year price growth in Greater Vancouver slowed markedly in April and moderated in the nearby Fraser Valley. By contrast, Montreal — a market that tends towards more stable price growth — saw a small uptick in line with the aggregate index.

Toronto’s price index accelerated for the second straight month, consistent with its market balance where negotiations continue to favour the seller. Calgary is also now seeing prices begin to advance in earnest, supported by a strong economic outlook, recent gains in in-migration, and strong full-time job growth.

“Canadian home price gains are generally expected to moderate, but there are a few hot spots where prices are being fuelled by some very strong housing market fundamentals,” said Wayne Moen, CREA’s President. “Toronto has less than two months of supply compared to six months nationally, so it ranks among the tightest of Canadian housing markets. With prices moderating in some housing markets and bucking the trend in others, buyers and sellers should talk to their local REALTOR® to best understand how home price trends are evolving where they live.”

Among the different housing types tracked by the index, single family homes again posted the biggest year-over-year gains in April (6.4%), led by two-storey single family homes (6.9%). The MLS® HPI for one-storey single family homes rose 5.6 per cent from April 2011, while townhouses and apartments saw gains of 3.6 per cent and 2.7 per cent, respectively.

“Just as there are some pretty clear differences emerging across markets right now, there have also been some interesting developments in price trends across housing types,” said Gregory Klump, CREA’s Chief Economist. “The one that really stood out in April was accelerating price growth for the townhouse segment right across the board. In Vancouver and the Fraser Valley, it was the only segment in which prices gains accelerated.”

MLS® Home Price Index
January 2005 = 100
percentage change vs.
 Composite HPI:
April 2012
1 month ago
3 months ago
6 months ago
12 months ago
3 years ago
5 years ago
Aggregate
     154.7
1.18
3.62
3.62
5.24
21.91
18.45
Lower Mainland
     156.8
0.71
2.62
2.08
3.43
20.99
16.15
Greater Vancouver
       163
0.74
2.77
2.19
3.69
25.19
21.10
Fraser Valley
     143.2
0.70
2.36
1.92
2.73
11.70
5.45
Calgary
     175.8
2.03
4.58
4.27
4.02
9.60
-6.74
Greater Toronto
     149.7
1.42
4.54
4.98
7.85
30.97
32.24
Greater Montreal
     151.2
0.60
2.72
1.61
2.30
17.57
30.12

In focus: Price growth among housing types

The MLS® HPI tracks four different Benchmark housing categories: one- and two-storey single family homes, townhouses, and apartment units. Based on detailed characteristics specific to each neighbourhood, Benchmark prices are aggregated for each metropolitan market and the headline Aggregate Composite MLS® HPI.

Two-storey single family homes are generally (with the exception of Montreal) the most expensive of the four Benchmark categories, followed by one-storey single family homes, townhouses, and condo apartment units.

From the depths of the economic recession of early 2009 and over 2010, prices in all Benchmark housing categories exhibited similar trends.

However, beginning in early 2011, price gains for one- and two-storey single family homes were bigger than they were for townhouses and condo apartment units, and accelerated faster. The difference in year-over-year price gains between single family homes and the other Benchmark housing categories is now bigger than at any other time since 2005.

As a result, the townhouse and apartment units have remained relatively more affordable than one- and two-storey single family homes since 2005 from the standpoint of price. For this reason, the recent acceleration in townhome prices in all markets tracked by the index may indicate the beginning of a shift in demand away from the increasingly expensive single family sector.

A similar acceleration in prices has yet to materialize for apartment units, which are more affordable than townhouses from a price standpoint. One reason for this could be that as an alternative to expensive single family homes, townhouses are viewed more favourably than apartments by families looking for housing in more centrally located areas. The apartment segment is also better supplied, and recent trends for multiple units under construction suggest that this may remain the case going forward. Another reason might also be the almost daily news media stories about potential price corrections in condo markets.

Copyright CREA reprinted with permission

BC Commercial Leading Indicator Continues to Signal Strength in 2012

The BCREA Commercial Leading Indicator (CLI) rose for the third consecutive quarter, advancing 1.3 index points, or 1.2 per cent, to a revised index level of 111.91. On a quarter-over-quarter basis, the CLI is now 3.2 per cent above its level in the first quarter 2011.

"The trend in the CLI has turned sharply upward, reflecting several months of strong underlying data,” said Brendon Ogmundson, BCREA Economist.  “This signals a potential acceleration commercial real estate activity in the subsequent two to four quarters."

This quarter’s increase in the CLI was driven by calmer global financial conditions to start 2012 as Euro-based fears cooled. The financial component of the CLI accounted for over one-third of CLI’s gain in the first quarter, with manufacturing output and employment growth also making a significant contribution.

“However, given the re-emergence of fears surrounding the Eurozone, last quarter’s gains may be only temporary,” added Ogmundson.

Copyright BCREA Reprinted with permission

Interior Housing Markets to Shine in 2012

BCREA 2012 Second Quarter Housing Forecast

 The British Columbia Real Estate Association (BCREA) released its 2012 Second Quarter Housing Forecast today.

 BC Multiple Listing Service® (MLS®) residential sales are forecast to edge down 2.2 per cent to 74,800 units this year, before increasing 4.9 per cent to 78,500 units in 2013. Since 2009, annual
home sales in the province have hovered in the 74,000 to 78,000 unit range. A record 106,300
MLS® residential sales were recorded in 2005.

 “Despite a sizable increase in consumer demand in Kamloops, the Okanagan and the North, some moderation in the Metro Vancouver region will pull BC home sales lower this year,” said Cameron Muir, BCREA Chief Economist. “Persistently low mortgage interest rates are expected to continue to underpin home sales and affordability in the province.” 

“An increase in the proportion of home sales in the Interior combined with fewer luxury sales in
Vancouver will cause the annual average price in BC to decline nearly 4 per cent this year,” added Muir. The average MLS® residential price in the province is forecast to dip 3.9 per cent to $539,400 this year, and increase 1.4 per cent to $547,000 in 2013.

Copyright BCREA reprinted with permission

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Tuesday, May 15, 2012

Canadian home sales edge higher in April


According to statistics released today by The Canadian Real Estate Association (CREA), national resale housing activity edged up by less than one per cent in April 2012. Highlights:
  • Home sales up 0.8% from March to April.
  • Actual (not seasonally adjusted) activity stood 11.5% above levels in April 2011.
  • The size of the year-over-year increase reflects a slowdown in sales last April following changes to mortgage rules which came into effect on March 18, 2011.
  • The number of newly listed homes edged back 0.2% from March to April.
  • While still well balanced, the combination of stable new listings and slightly higher sales activity resulted in a tighter national housing market.
  • The national average home price edged up 0.9% on a year-over-year basis in April.
Sales over MLS® Systems of real estate Boards and Associations in Canada edged up 0.8 per cent from March to April 2012, putting them on par with levels reported in the same month two years earlier.
Activity was either up or held steady in half of all local markets in April, with Toronto and Calgary posting the biggest monthly increases for the second month in a row. Activity gains in Montreal, Winnipeg, Edmonton, as well as London and St. Thomas also made significant contributions to the national sales increase in April. Increased activity in these markets offset monthly declines in Ottawa, Windsor-Essex, Quebec City, the Fraser Valley, and Vancouver.
“A number of Canadian housing market trends in April remained intact from the previous month,” said Wayne Moen, CREA President. “Trends in Vancouver and Toronto continue to diverge. These two housing markets have an obvious influence on national statistics and a high profile, but Canada is a big place. Trends in housing markets differ across Canada, and as all housing is local, buyers and sellers should speak to their local REALTOR® to better understand current and prospective trends where they live.”
Actual (not seasonally adjusted) activity stood 11.5 per cent above levels in April 2011, reflecting the slowdown in sales following changes to mortgage regulations that came into effect in March of last year.
A total of 157,804 homes have traded hands so far this year, up 6.4 per cent from levels reported in the first four months of 2011 and about four per cent above both the five- and 10-year averages for sales during the first third of the year.
The number of newly listed homes was little changed in April compared to March, having edged back 0.2 per cent on a month-over-month basis. The number of markets in which new listings rose (45) ran almost even with those where new listings eased (54).
The national housing market tightened marginally in April due to higher sales and stable new listings, but remains firmly entrenched in balanced market territory. The national sales-to-new listings ratio, a measure of market balance, stood at 55.9 per cent in April, up slightly from its March reading of 55.4 per cent. Based on a sales-to-new listings ratio of between 40 to 60 per cent, the number of local markets that were in balanced market territory in April (59) was up slightly from March (56).
Nationally, the number of months of inventory stood at 5.6 months at the end of April, unchanged from levels reported in March. The number of months of inventory represents the number of months it would take to sell current inventories at the current rate of sales activity, and is a further measure of the balance between housing supply and demand.
The actual (not seasonally adjusted) national average price for homes sold in April 2012 was $375,810, up 0.9 per cent from the same month last year. While more or less flat compared to last spring on a national basis, average sale prices were up on a year-over-year basis in 80 per cent of all local markets in April.


“It bears repeating that the national average price was skewed higher last spring by record level high-end home sales in Vancouver’s priciest neighbourhoods, and that a replay of this phenomenon was not expected this year,” said Gregory Klump, CREA’s Chief Economist. “Sales data confirm that high-end activity in Vancouver is well off the peak levels reached at this time last year, which is exerting a gravitational pull on the national average price.”
“By contrast, activity in Toronto is stronger this spring than it was last spring. Higher-priced sales activity there is on the rise and buoying average prices. As the most active housing market in Canada, Toronto is the biggest factor supporting national average price.”
“Netting Vancouver out of the national average price calculation yields a 4.9 per cent year-on-year gain. Netting Toronto out of the national average price calculation, while leaving Vancouver in, produces a 2.2 per cent year-on-year decline. Netting out both Vancouver and Toronto results in a 3.1 per cent increase in average price. On balance, this points to modest price growth amid balanced market conditions in much of the rest of Canada.”

Copyright CREA Reprinted with permission

Home Sales Surge in Interior/North

The British Columbia Real Estate Association (BCREA) reports that the dollar volume of homes sold through Multiple Listing Service® (MLS®) in BC declined 12.5 per cent to $3.8 billion in April compared to the same month last year. A total of 7,058 MLS® residential unit sales were recorded over the same period, down 1.8 per cent from April 2011. The average MLS® residential price was $532,855, 10.9 per cent lower than a year ago.

"A ten per cent dip in Lower Mainland home sales offset a 14 per cent increase across the rest of the province,” said Cameron Muir, BCREA Chief Economist. “Kamloops, the Okanagan and the North all posted double-digit increases in home sales in April compared to levels one year ago."

"The share of provincial sales garnered by Vancouver and the Fraser Valley declined from 65 per cent in April 2011 to 60 per cent last month,” added Muir. “A larger proportion of homes sold in less expensive regions contributed to the average BC sales price dipping nearly 11 per cent."

Year-to-date, BC residential sales dollar volume declined 15.8 per cent to $15 billion, compared to the same period last year. Residential unit sales dipped 9.7 per cent to 23,782 units, while the average MLS® residential price was 6.8 per cent lower at $546,870.

Copyright BCREA reprinted with permission