BCREA Nowcast

BC Monthly Real GDP Estimate for March 2024 & Preliminary Estimate for April 2024 The BCREA Nowcast estimate of provincial economic growth (expressed as year-over-year growth in real GDP) for March 2024 is 1.1 per cent. For comparison, year-over-year growth in the Canadian economy in March was 0.6 per cent. Our preliminary estimate for April

Canada’s Financial Gatekeepers

By AML Shop, Guest Contributor The opioid addiction epidemic and increased rates of human trafficking and weapon trafficking are just three examples of the toxic impact that organized crime groups have on our society. And yet, all these problems would disappear if they ceased to be profitable. That is, we could largely eliminate many of

Commercial Leading Indicator Fell in First Quarter 2024

To view the full interactive Commercial Leading Indicator, click here. To view the full Commercial Leading Indicator PDF, click here. The BCREA Commercial Leading Indicator (CLI) fell 3.2 points to 145.5 in the first quarter of 2024, while the six-month moving average fell to 146.5. Compared to the same quarter in 2023, the index was

Housing Monitor Dashboard

The dashboard was last updated on May 28, 2024. The BCREA Economics team has created the Housing Monitor Dashboard to help REALTORS® monitor BC’s housing market. This dashboard provides up-to-date data on key variables for public education and use. The image and data are available for download under each chart, where possible. Resale Home Market

Home Insurance During Wildfire Season

Wildfires have had a devastating impact on communities across BC in recent years. This year’s wildfire season has already begun and, as a REALTOR®, you can help protect your clients by reminding them of the importance of home insurance, both year-round and when buying or selling a home. If your client is buying a home,

Five Insurance Tips for Wildfire Season

Sadly, it seems that in addition to spring, summer, fall and winter, BC now has a fifth season: wildfire season. What’s worse is that this year the wildfire season has gotten off to an early start, making it more important than ever for REALTORS® to help clients manage wildfire risks. While there are some things

Housing Market Update – May 2024

Watch BCREA Economist Brendon Ogmundson discuss the April 2024 statistics. [iframe width=”560″ height=”315″ src=”https://www.youtube.com/embed/R-xnx8z3R0A” frameborder=”0″ allowfullscreen style=”position:absolute;top:0;left:0;width:100%;height:100%;”][/iframe] Click here for the Housing Market Update charts. Click here to visit BCREA's YouTube channel. Read the news release here. For more information, please contact: Brendon Ogmundson Chief Economist Direct: 604.742.2796 Mobile: 604.505.6793 Email: [email protected] To subscribe to receive

New Listings Bounce Higher in April

For the complete news release, including detailed statistics, click here. Vancouver, BC – May 15, 2024. The British Columbia Real Estate Association (BCREA) reports that 7,569 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in April 2024, an increase of 1.5 per cent from April 2023. The average MLS® residential price in BC

It’s Finally Here: The Short-Term Rental Accommodations Act #572

The name of the game It’s often said that the only constant in life is change, and change certainly appears to be the name of the game. Described as a real “game-changer”, the Short-Term Rental Accommodations Act (“STRAA”) aims to return short-term rental units to the long-term rental market. It comes as part of the

A Guide to Understand Home Energy Retrofits

Energy retrofits are more than just a buzzword; they represent a great way to lower energy costs for homeowners. Retrofitting involves upgrading existing homes to improve their energy efficiency, making them more sustainable and cost-effective in the long run. REALTORS® familiar with retrofit benefits can help homebuyers and sellers make informed decisions about energy-efficient properties.

A Consumer’s Guide to Home Energy Retrofits

Energy retrofits are more than just a buzzword; retrofits are a smart investment for homeowners, offering a range of benefits beyond just lowering energy costs. Retrofitting involves upgrading existing homes to improve their energy efficiency, making them more sustainable and comfortable in the long run. What is Retrofitting? Retrofitting your home involves making modifications to