BCREA Nowcast

BC Monthly Real GDP Estimate for January 2024 & Preliminary Estimate for February 2024 The BCREA Nowcast estimate of provincial economic growth (expressed as year-over-year growth in real GDP) for January is 1.1 per cent. For comparison, year-over-year growth in the Canadian economy in January was 0.9 per cent. The preliminary estimate for February shows

BC REALTORS® Advocate for a Pre-Offer Period

The BC Real Estate Association’s annual Government Liaison (GL) Days event was held from Sunday, March 10 to Tuesday, March 12, 2024, at the Hotel Grand Pacific in Victoria. Bringing together 65 attendees consisting of government relations (GR) staff and REALTOR® committee members from all of the regional boards/associations, BCREA GR staff, and Board Members,

Mortgage Rate Forecast

To view the Mortgage Rate Forecast PDF, click here. Highlights Canadian mortgage rates down sharply to start 2024. The Canadian economy – no recession yet, but growth is very slow. Waiting for the Bank of Canada to cut. Mortgage Rate Outlook In early October 2023, Canadian five-year bond yields peaked at a 17-year high of

Provincial Housing Market Relatively Calm Heading into Spring

For the complete news release, including detailed statistics, click here. Vancouver, BC –  March 13, 2024. The British Columbia Real Estate Association (BCREA) reports that a total of 5,497 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in February 2024, an increase of 15.3 per cent from February 2023. The average MLS® residential

Commercial Leading Indicator Jumps in Fourth Quarter 2023

To view the full Commercial Leading Indicator PDF, click here. The BCREA Commercial Leading Indicator (CLI) rose 3.8 points to 149.5 in the fourth quarter of 2023, while the six-month moving average rose to 147.4. Compared to the same quarter in 2022, the index was up by 0.8 per cent. Fourth Quarter Highlights The economic

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