Economics BCREA 2022 Second Quarter Housing Forecast
by Brendon Ogmundson May 31, 2022
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INDUSTRY INSIGHTS

  • Housing Market Update – June 2022
    Watch BCREA Chief Economist Brendon Ogmundson discuss the May 2022 statistics. 
    Posted Jun 17, 2022
    by Brendon Ogmundson
  • BC Government Releases Cullen Commission Final Report and Recommendations
    On Wednesday, June 15, the BC Government publicly released the final report and recommendations from the Cullen Commission of Inquiry into Money Laundering BC. 
    Posted Jun 16, 2022
    by Shaheed Devji
  • Mortgage Rate Forecast
    Canadian 5-year fixed mortgage rates have already sling-shotted to 4.69 per cent as elevated inflation continues to drive interest rate expectations. 
    Posted Jun 16, 2022
    by Brendon Ogmundson
  • Rising Mortgage Rates Continue to Slow Market Activity
    BCREA reports that a total of 8,214 residential unit sales were recorded by the Multiple Listing Service® in May 2022, a decrease of 35.1 per cent from May 2021.  
    Posted Jun 13, 2022
    by Brendon Ogmundson
  • BCREA’s New Professional Services Manager Reflects on State of BC’s Real Estate Sector
    Meet BCREA’s new Professional Services Manager, Jim McCaughan, to learn more about his role, experience and what he believes BC Realtors should know moving forward. 
    Posted Jun 09, 2022
    by Pearl Zhou
  • CLI Rises in First Quarter 2022
    The BCREA Commercial Leading Indicator rose to 154 from 150 in the first quarter of 2022, recovering most of the ground lost over the prior two quarters.  
    Posted Jun 02, 2022
    by Ryan McLaughlin
  • BCREA Nowcast
    The BCREA Nowcast estimate of provincial economic growth (expressed as year-over-year growth in real GDP) for March 2022 is 5.2 per cent. 
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    Posted Jun 01, 2022
    by Brendon Ogmundson
  • BCREA 2022 Second Quarter Housing Forecast: Sharply Higher Mortgage Rates Will Slow Housing Activity in BC Through 2023
    In its 2022 Second Quarter Housing Forecast, BCREA reports that MLS® residential sales in the province are forecast to decline 22 per cent from a record high 2021 to 97,240 units this year. 
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    Posted May 31, 2022
    by Brendon Ogmundson
  • Success of Real Estate Consumer Protection Measures Hinges on Next Steps by BC Government and Real Estate Regulator
    After reviewing the BCFSA consumer protection recommendations published on May 26, the BCREA urges the Ministry of Finance to carefully consider the next steps prior to implementing any of the measures proposed.  
    Posted May 30, 2022
    by British Columbia Real Estate Association
  • UPDATE: COVID-19 Recovery Dashboard
    The BCREA Economics team has created the COVID-19 Recovery Dashboard to help REALTORS® monitor BC’s economic recovery. 
    Posted May 27, 2022
    by Ryan McLaughlin
  • Avoid Costly Mistakes Concerning the Foreign Buyers’ Tax #549
    A recent BC Supreme Court decision highlights the potential risks for REALTORS® working with buyers whose residency or citizenship status is unknown or has recently changed. 
    Posted May 26, 2022
    by Oana Hyatt
  • BC REALTORS® Advocate for Better Consumer Protections During 2022 Government Liaison Days
    On May 10 and 11, many REALTORS® from across BC convened to discuss government liaison issues and met with their local MLAs.  
  • BCREA Standard Forms Housekeeping Amendments Spring 2022
    On May 16, 2022, BCREA released several standard forms housekeeping amendments through CREA’s WEBForms®. Here’s a summary of the standard forms and revisions that are in the housekeeping amendments. 
    Posted May 18, 2022
    by Jim McCaughan
  • Resources to Help REALTORS® and Your Clients Navigate Extreme Climate
    Be prepared for unexpected wildfires and flooding this season. 
    Posted May 13, 2022
    by Pearl Zhou
  • BC Home Sales Trending Toward Normal Activity
    BCREA reports that a total of 8,939 residential unit sales were recorded by the MLS® in  April 2022, a decrease of 34.9 per cent from a record April 2021. 
    Posted May 12, 2022
    by Brendon Ogmundson
  • BC Real Estate Boards Named Finalists for 2022 Real Estate Land Awards
    The Real Estate Foundation of BC recently announced the finalists for its 2022 Land Awards recognizing outstanding projects and standout leaders in the province.  
    Posted May 09, 2022
    by Pearl Zhou
  • New BC Real Estate Association Report Estimates Impacts of Increased Supply on BC Housing Market
    BCREA’s latest Market Intelligence Report finds that policies designed to streamline the development cycle are effective at mitigating demand shocks and corresponding price increases.  
    Posted May 03, 2022
    by Brendon Ogmundson
  • Federal Budget 2022: Taxation of Property Flipping, GST and Assignment Sales #548 
    The proposed federal budget for 2022 has introduced a number of new rules relating to real estate, including rules to dampen speculation in the market. REALTORS® should be aware of these changes. 
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    Posted Apr 28, 2022
    by Peter Borszcz
  • Inflation and the Rising Trend of Underinsured Claims: Tips for REALTORS®
    There has been a growing trend of underinsured claims across personal and commercial property lines over the past two years due to inflation and the rise material costs. 
    Posted Apr 28, 2022
    by Pearl Zhou
  • Five Things REALTORS® Should Know About Real Estate and the Economy
    Here are five learning outcomes that Realtors should know about real estate and the economy from Economics for REALTORS®: How to Apply Economic Data and Trends to Help Your Clients. 
    Posted Apr 19, 2022
    by Mackenzie Smith
  • Safety and Manufactured Homes Pilot Project: Resources for Sellers and Buyers
    This pilot project is the collective effort of the BCREA, Association of Interior REALTORS® and Technical Safety BC. 
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    Posted Apr 14, 2022
    by British Columbia Real Estate Association
  • Strong First Quarter for BC Housing Markets, But Rising Rates Loom Large
    The British Columbia Real Estate Associatio reports that a total of 11,463 residential unit sales were recorded by the MLS® in March 2022, a decrease of 24.1 per cent from a record March 2021. 
    Posted Apr 12, 2022
    by Brendon Ogmundson
  • How the 2022 Federal Budget Impacts BC Real Estate
    On April 7, Budget 2022 was introduced with a significant focus on the supply and affordability of housing in Canada.  
  • Cybersecurity Tips for REALTORS®: Multifactor Authentication
    Ensuring your digital accounts are secure online prevents hackers from obtaining not just your sensitive information, but also private client information. 
    Posted Apr 08, 2022
    by Pearl Zhou
  • Markets at a Glance
    These charts provide year-to-date information on the pace of MLS® home sales for the province as well as in each of the BCREA member board regions and a comparison of current year sales… 
    Posted Jun 13, 2022
    by Ryan McLaughlin

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