The BCREA (British Columbia Real Estate Association) reports that a total of 7,427 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in April 2023, a decrease of 17.7 per cent from April 2022. The average MLS® residential price in BC was 995,506 down 5.6 per cent compared to the average price of…
Buyer confidence and activity is increasing in B.C. despite continued short supply and price escalation, according to real estate professionals. Sales increased by eight per cent month over month in Metro Vancouver in April, said MLA Canada’s Brittany Reimer, a partner and managing director in the real estate agency’s Fraser Valley office. Brendon Ogmundson, chief…
Two new regulations affecting BC’s real estate market went into effect with the start of the new year earlier this week. Here’s the key information you need to know. BC home buyer rescission period – HBRP As of January 1, 2023, BC home buyers now have a 3 day period in which they…
2022 Fourth Quarter Housing Forecast was just released by the British Columbia Real Estate Association (BCREA). Multiple Listing Service® (MLS®) residential sales in BC are forecast to decline 34.4 per cent from a record high 2021 to 82,345 units this year. In 2023, MLS® residential sales are forecast to fall an additional 11.4 per cent…
The British Columbia Real Estate Association (BCREA) released its 2022 Second Quarter Housing Forecast today. Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 22 per cent from a record high 2021 to 97,240 units this year. In 2023, MLS® residential sales are forecast to fall an additional 12.4 per cent…
The BC housing market is entering 2022 with the lowest level of active listings on record and significant demand-side momentum. That means strong sales should persist through the first few months of the year and supply will remain severely limited. As a result, we expect to see continued upward pressure on home prices in all…
The number of home sales in BC is expected to fall and home price growth will moderate because of rising interest rates according to a new report from British Columbia Real Estate Association examining the potential impacts of the likely Bank of Canada’s rate tightening. The report is written by BCREA Chief Economist and explores…
The British Columbia Real Estate Association (BCREA) reports that a total of 13,683 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in April 2021, an increase of 312.3 per cent over April 2020 when the onset of the COVID-19 pandemic prompted a lockdown of the provincial economy. The average MLS® residential price…
Just released is British Columbia Real Estate Association (BCREA), 2021 Second Quarter Housing Forecast. Multiple Listing Service® (MLS®) residential sales in the province are forecast to rise 33.6 per cent to 125,600 units this year, after recording 94,013 sales in 2020. In 2022, MLS® residential sales are forecast to pull back 20.3 per cent to…
Check out the results of a recent public opinion survey which asked British Columbians about their thoughts on the current hot housing market. From the causes of the historically busy market to Realtor practice, and government intervention, the public weighs in. This episode was recorded on April 26, 2021. Rundown: Introduction Feature Conversation: Mario Canseco,…
