Sketching Out the Potential Impact of COVID-19 on the BC Housing Market
To view the Market Intelligence Report PDF, click here.
- 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 will likely face declines in the spring and early summer but should recover along with the wider economy in the second half of the year, contingent on the outbreak resolving.
- The postponed change to the mortgage stress test rate, originally slated for April 6, 2020, will mute the impact of falling interest rates for the BC housing market.
For more information, please contact:
To subscribe to receive BCREA publications, or to update your email address or current subscriptions, click here.
What we do
Popular tags within Economics
- Statistical Releases
- Housing Affordability
- Housing Supply
- Professional Development
Popular posts from BCREA
New Statutory Holiday on September 30, National Day for Truth and ReconciliationSep 09, 2021
Applications for BC Emergency Benefit for Workers Now OpenMay 01, 2020