Janie Cranfield

COVID-19: Resources for REALTORS®

Last updated: July 8, 2020 BCREA has created this dedicated page to help real estate boards and REALTORS® access resources related to real estate practice and the COVID-19 crisis. We will provide new information and resources as they become available. In addition to uploading new content here, we will send out email updates to all

COVID-19 Reopening Dashboard

Reopening Dashboard

The dashboard was last updated on July 2, 2020. The BCREA Economics team has created the COVID-19 Reopening Dashboard to help REALTORS® monitor the evolution of the BC economy as the province gradually reopens. This dashboard focuses on the sectors and activities that have been most significantly impacted by the pandemic and the province’s subsequent

BCREA Nowcast

BC Monthly Real GDP Estimate for April 2020 & Flash Estimate for May 2020 (Updated: June 30, 2020) The BCREA Nowcast estimate of provincial economic growth (expressed as year-over-year growth in real GDP) for April 2020 is -10.6 per cent, down from -3.1 per cent annual growth in March. We have also included a flash

Housing Market Update – June 2020

Watch BCREA Chief Economist Brendon Ogmundson discuss the May 2020 statistics. [iframe width=”560″ height=”315″ src=”https://www.youtube.com/embed/80vQe8m80Ck” frameborder=”0″ allowfullscreen style=”position:absolute;top:0;left:0;width:100%;height:100%;” ][/iframe] Click here to visit our 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 BCREA publications such as this

Commercial Activity Nosedives in 2020 Q1

To view the full Commercial Leading Indicator PDF, click here. The BCREA Commercial Leading Indicator (CLI) was down sharply in the first quarter of 2020 from 134.2 to 123.2, reflecting the slowdown prompted by the COVID-19 pandemic. Compared to the same time last year, the index was down by 4.8 per cent. The pandemic-induced shutdown

Sketching Out the Potential Impact of COVID-19 on the BC Housing Market

To view the Market Intelligence Report PDF, click here. Summary Findings: While it’s unknown how the unfolding COVID-19 outbreak will impact the economy in the long-term, BC is facing a sudden stop in economic activity with little guidance to when things may return to normal. Based on our scenario analysis, BC home sales and prices

Estimating the Impacts of the Speculation and Vacancy Tax

To view the Market Intelligence Report PDF, click here. Summary Findings: While all BC markets experienced sharp declines since 2018, the Speculation and Vacancy tax (SVT) is estimated to have reduced home sales in taxable regions in BC by an additional 12.5 per cent compared to non-taxable regions. Growth in home prices since 2018 is

Ideas into Action: BCREA Managing Brokers’ Conference

Register today for BCREA’s second Managing Brokers’ Conference and join managing and associate brokers from across BC on October 16 and 17 at the Coast Capri Hotel in beautiful Kelowna for a day of networking and learning! This year’s conference theme is Ideas into Action, and the all-day conference on October 17 will take an

Pitfalls in Transactions Involving Strata Condominiums #516

A recent Civil Resolution Tribunal decision1 highlights some important practice points for licensees in transactions involving strata condominiums. The buyer of a strata condominium claimed against the seller’s agent in misrepresentation and false advertising arising from the description of the building as having a “fully rainscreened exterior” in the MLS® listing. The buyer was surprised