BCREA Economics

BCREA Housing Market Update – March 2018

Post Date March 15, 2018


The British Columbia Real Estate Association (BCREA) reports that a total of 6,206 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in February, a 5.7% decrease from the same period last year. The average MLS® residential price in BC was $748,327, up 8.8% from the previous year. Total sales dollar volume was … Read More

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New Mortgage Qualification Rules Temper Housing Demand

Post Date March 14, 2018


MLS Residential Sales - Feb'18 - Mark J. Walker

It appears the new mortgage qualification rules have tempered housing demand.  The British Columbia Real Estate Association (BCREA) reports that a total of 6,206 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in February, a 5.7% decrease from the same period last year. The average MLS® residential price in BC was $748,327, up 8.8% … Read More

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BC Housing Demand Forecast Slower Through 2019

Post Date March 9, 2018


Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 8.6 per cent to 94,855 units this year, after recording 103,763 residential sales in 2017. MLS® residential sales are forecast to edge back a further 1 per cent to 94,025 units in 2019. Housing demand is expected to remain above the 10-year average of 84,800 units into … Read More

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High Consumer Confidence and Tight Supply Continue to Strengthen Real Estate Prices!

Post Date August 15, 2015


High consumer confidence and tight supply continue to strengthen real estate prices, reports the British Columbia Real Estate Association (BCREA). A total of 10,247 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in July, up 20.7 per cent from the same month last year. Total sales dollar volume was $6.2 billion, a 33.9 per cent increase in … Read More

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Hottest April for Home Sales in a Decade

Post Date May 14, 2015


BCREA Chart of Hottest April for Home Sales in a Decade

The British Columbia Real Estate Association (BCREA) reports that BC just had the hottest April for home sales in a decade, with a total of 9,952 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in May, up 28.7 per cent from the same month last year. Total sales dollar volume was $6.3 billion, a 45.5 per cent … Read More

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BC Housing Demand Continues Strong Through February

Post Date March 13, 2015


2015-02chart

BC Housing Demand Continues Strong through February.  BCREA reports that a total of 6,661 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in February, up 19.4 per cent from the same month last year. Total sales dollar volume was $4.3 billion, an increase of 24.8 per cent compared to a year ago. The average MLS® residential price … Read More

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Strong Growth Expected for Commercial Real Estate Sector in 2015

Post Date March 5, 2015


BCREA Commercial Leading Indicator

The BCREA Commercial Leading Indicator (CLI) rose 0.8 index points to 119.8, the fourth consecutive quarterly increase. The continued advance in the CLI trend points to optimism surrounding the economic environment underlying the commercial real estate market.

“Rising consumer confidence combined with a lower value of the loonie and a strengthening US economy helped to push the economic activity component … Read More

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Bank of Canada Continuing To Hold Overnight Rate at 1.0%

Post Date December 3, 2014


BCREA Econ Interest Rate Ancmnt

The Bank of Canada announced this morning that it is holding its target overnight rate at one per cent. This marks the longest period without a change in the Bank’s policy rate since the 1950s. In the statement accompanying its decision, the Bank noted that inflation has been stronger than expected in the past year, though mainly due to temporary … Read More

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Commercial Real Estate Gains Momentum in BC

Post Date December 1, 2014


dec1

The BCREA Commercial Leading Indicator (CLI) rose 1.4 index points to a new record high of 118.4, surpassing the previous high of 117.1 set in the second quarter of 2014.

“Momentum has been building in sectors most important to commercial real estate,” said BCREA Economist Brendon Ogmundson, “That momentum should translate to a strong year for the commercial market in … Read More

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Housing Demand Ratchets Higher in British Columbia

Post Date November 18, 2014


british columbia

The British Columbia Real Estate Association (BCREA) released its 2014 Fourth Quarter Housing Forecast today.

“Consumer demand has ratcheted up this year and is expected to remain at a more elevated level through 2015,” said Cameron Muir, BCREA Chief Economist. “While historically low mortgage rates support demand, the housing market is also being underpinned by a more robust economy and … Read More

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