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Blog by Don Kennedy

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A Return to Balance for BC Housing Market

July 13th, 2018

A Return to Balance for BC Housing Market

Vancouver, BC – July 13, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 7,884 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in June, a 32.5 per cent decrease from the same month last year. The average MLS® residential price in BC was $716,326, down 1.3 per cent ...

Mortgage Policy Changes Hit Affordability Hard

June 15th, 2018

 

Vancouver, BC – June 15, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 8,837 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in May, a 28.7 per cent decrease from the same month last year. The average MLS® residential price in BC was $739,783, down 1.7 per cent from May 2017. Total sales dollar volume ...

BCREA 2018 Second Quarter Forecast Sees Housing Slowdown

May 31st, 2018

Slower Growth Expected for Economy and Housing Market 
BCREA 2018 Second Quarter Housing Forecast Update

Vancouver, BC – May 31, 2018. The British Columbia Real Estate Association (BCREA) released its 2018 Second Quarter Housing Forecast today.

Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 9 per cent to 94,200 units this year, after postin ...

BC Home Sales Show Little Change in April

May 14th, 2018

BC Home Sales Show Little Change in April

Vancouver, BC – May 14, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 8,203 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in April, a 16.8 per cent decrease from the same month last year. The average MLS® residential price in BC was $730,507, up 0.2 per cent ...

BC UNEMPLOYMENT UP UNDER NEW GOVERNMENT

May 12th, 2018
BCREA ECONOMICS NOW

Canadian Employment - May 11, 2018

Canadian employment was essentially unchanged in April on a monthly basis but up 1.5 per cent compared to 1 year ago. The national unemployment rate remained unchanged at 5.8 per cent and total hours worked across the economy grew by 1.9 per cent.

In BC, employment grew by 2,900 jobs. With the economy close to its full-employment level, part ...

Housing Starts Fall Nationally, Not So In BC

April 10th, 2018
BCREA ECONOMICS NOW

Canadian Housing Starts - April 10, 2018

Canadian housing starts fell 3 per cent on a monthly basis in march to 225,213 units at a seasonally adjusted annual rate (SAAR).  The six-month trend in Canadian housing starts was steady at about 226,000 units SAAR.

In BC, total housing starts jumped 48 per cent on a monthly basis to 46,629 units SAAR with multiple unit starts rising ...

BCREA Report: The Economic Fallout of Housing Price Shocks

April 6th, 2018

The desire of some well-meaning British Columbians for government to drive down the price of homes through demand-side policy may sound practical at first blush. However, when you consider the broad and deep economic toll that a negative shock to home prices would exact on both homeowners and renters, it quickly becomes apparent that such an approach is at best, a mug’s game. BCREA Economics ...

BC Budget: Taxes Won't Make Housing Affordable

February 22nd, 2018

Government Needs Transitional Rules For All Transactions Impacted By Taxes Introduced In Budget 2018

New taxes unlikely to stabilize housing market

Victoria, BC – February 20, 2018. The British Columbia Real Estate Association calls on the government to introduce transitional rules for all transactions impacted by the new tax measures introduced in Budget 2018. The new tax measures com ...

Mortgage Stress Test Blamed For Dip In BC Home Sales

February 15th, 2018

BC Home Sales Dip After Strong December

Vancouver, BC – February 15, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 5,306 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in January, an increase of 18.3 per cent from the same period last year. The average MLS® residential price in BC was $721,477, up 16. ...

2018: BC Housing Market Facing Headwinds

November 28th, 2017

Housing Market Facing Headwinds Despite Strong Economy 
BCREA 2017 Fourth Quarter Housing Forecast

Vancouver, BC – November 28, 2017. The British Columbia Real Estate Association (BCREA) released its 2017 Fourth Quarter Housing Forecast today.

Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 10.4 per cent to 91,700 units in 2018, after an exp ...

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