News Releases

BCREA Supports Housing Funding for Middle-Income Families, Encourages Additional Supply-Side Action

For Immediate Release Vancouver, BC – April 19, 2021. The British Columbia Real Estate Association (BCREA) welcomes the province’s recent announcement that $2 billion in development financing will be committed to the HousingHub program to help create affordable housing choices for middle-income families. “With home prices having risen over the last decade and that trend continuing,

Real Estate Sector Stresses Consumer Education and Due Diligence

For Immediate Release Vancouver, BC – April 16, 2021. The British Columbia housing market is currently experiencing a heightened level of activity, leading to increased competition and a trend of prospective purchasers submitting unconditional offers, at times without having financing secured. In a competitive market it’s important that consumers continue to focus on the due diligence associated

Real Estate Professionals Urged to Stop Open Houses: Regulators and Provincial Association Recommend Virtual Tools

For Immediate Release Vancouver, BC – November 05, 2020. The regulatory agencies overseeing real estate professionals in BC and the provincial association representing REALTORS® are calling on real estate professionals across the province to protect public health and safety by temporarily discontinuing open houses. With cases of COVID-19 on the rise in BC, the Real

BC REALTORS® Support BCFSA Interim Findings On Rising Strata Insurance

For Immediate Release Vancouver, BC – June 17, 2020. The British Columbia Real Estate Association (BCREA) welcomes the BC Financial Services Authority’s (BCFSA) interim findings on the unprecedented rise in strata insurance premiums and deductions. On behalf of BC’s 23,000 REALTORS® and 11 real estate boards, BCREA has also developed a series of recommendations for

BCREA Chief Economist Re-appointed to Economic Forecast Council

British Columbia Real Estate Association (BCREA) Chief Economist Brendon Ogmundson has been re-appointed as a member of the Province of British Columbia’s Economic Forecast Council until July 2023. Ogmundson was invited to extend his current term by Minister of Finance Carole James. “COVID-19 has had unprecedented impacts on BC’s economy,” says Ogmundson. “Now more than ever, I welcome

BCREA Supports End to Open Houses During COVID-19 Crisis

Vancouver, BC – March 20, 2020. The British Columbia Real Estate Association (BCREA) supports recommendations made by local real estate boards to stop open houses during the COVID-19 pandemic. “As British Columbians face this unprecedented health risk, it is vital that everyone does their part to help slow the spread of the COVID-19 virus,” says

BCREA Calls for Increased Federal/Provincial Cooperation to Tackle Money Laundering in BC

Vancouver, BC – February 26, 2020. Today, the BC Real Estate Association makes our opening statement to the Cullen Commission of Inquiry into Money Laundering in British Columbia. “We are committed to working with government to better understand this issue and address any pre-existing vulnerabilities within our sector,” says BCREA CEO Darlene Hyde. “It is our hope

BCREA Welcomes Change to Stress Test

Vancouver, BC – February 19, 2020. As the voice of BC’s 23,000 REALTORS®, the British Columbia Real Estate Association (BCREA) welcomes Minister of Finance Bill Morneau’s announcement of changes to the benchmark rate used to determine the minimum qualifying rate for insured mortgages, also known as the “stress test”. Minister Morneau announced that as of April 6,

Real Estate Profession Revises Professional Development Program for BC’s REALTORS®

For Immediate Release Vancouver, BC – January 2, 2020 – With a redesigned Professional Development Program now in place, REALTORS® across BC are working to meet new professional development requirements. The British Columbia Real Estate Association (BCREA) and BC’s 11 real estate boards revised the Professional Development Program for REALTORS® in BC effective January 1,

Brendon Ogmundson Steps Into Role of BCREA Chief Economist

Darlene Hyde, Chief Executive Officer of the BC Real Estate Association (BCREA), is pleased to announce the appointment of Brendon Ogmundson as Chief Economist for BCREA. Brendon has been with BCREA for nine years, most recently serving as Deputy Chief Economist. Earlier this year, he was awarded the Crystal Ball Award by the Association of

BC’s REALTORS® Welcome Government Recommendations

Vancouver, BC – May 13, 2019. The British Columbia Real Estate Association (BCREA) is encouraged by the recommendations set out by the Ministry of Finance’s Expert Panel on Money Laundering led by Maureen Maloney. As the voice of BC’s 23,000 REALTORS®, we appreciate recommendations that will bring more transparency and accountability to all professionals involved

BC Real Estate Sector Submits Anti-Money Laundering Recommendations To Government

Vancouver, BC – April 15, 2019. Organizations representing key professions in the BC real estate sector submitted joint recommendations to the provincial and federal governments today to help protect BC’s housing market from money laundering. The participating organizations include the British Columbia Real Estate Association, the Appraisal Institute of Canada – BC Association, BC Notaries

BCREA Pleased With Housing Focus in Federal Budget 2019

Vancouver, BC – March 20, 2019. The British Columbia Real Estate Association (BCREA) is pleased with the measures announced in Budget 2019 that will help address housing affordability in British Columbia. REALTORS® in BC recognize that home ownership is a difficult goal to achieve for many British Columbians, and the policies announced in this budget

B-20 Stress Test Needs Revision to Improve Housing Affordability

Vancouver, BC – March 12, 2019. The British Columbia Real Estate Association (BCREA) is calling on the federal government to revisit the B-20 stress test so that more BC families can achieve their dream of homeownership. Mortgage lending rules, known as the B-20 stress test, have eroded housing affordability by reducing the purchasing power of

BCREA Supports BC Government’s Money Laundering Investigations

Vancouver, BC – November 27, 2018. As the provincial association for BC’s 11 regional real estate boards and 23,000 REALTORS®, the British Columbia Real Estate Association (BCREA) is deeply concerned by a recent news report that suggests up to $1 billion may have been laundered through Vancouver luxury real estate in 2016. BCREA continues to

Dynamic, Knowledgeable, Relatable: Meet the New BCREA!

Vancouver, BC – November 19, 2018. The British Columbia Real Estate Association (BCREA) is excited to launch a new brand identity reflecting the Association’s commitment to leadership and excellence in serving BC’s 11 regional real estate boards and 23,000 REALTORS®. “The new BCREA is dynamic, knowledgeable and relatable – just like the REALTORS® we serve,”