PODCAST: Five Questions for the Post-Pandemic Housing Market (June 2021)
TAGS: BC Economy Brendon Ogmundson Economics Podcast Post-Pandemic Housing Market Post-Pandemic Recovery
On this month's episode of Open House by BCREA, our Chief Economist Brendon Ogmundson joins the show to talk about his new Market Intelligence report exploring five questions about the post-pandemic housing market. From rising mortgage rates to remote work and market balance, we highlight what Realtors should be looking for as the economy emerges from COVID-19.
This episode was recorded on June 21, 2021.
The COVID-19 pandemic turned the world upside down. Within the blink of an eye, doors were shut, masks were on, and the world as we knew it had changed.
This is true for Canada and BC's housing market - REALTORS® and consumers had to adapt how they sold and bought homes. That wasn't a surprise.
What was a surprise though is how the market reacted. At the end of 2020 and into 2021 the BC housing market has been as busy as ever resulting from a perfect storm of factors including low mortgage rates, low housing supply, and remote work.
But what does the future hold? We're hearing of great vaccination rates at least when it comes to first doses in BC and Canada and with that and the loosening of many restrictions across the province. So a return to life as we knew it may be around the corner.
To explore how the housing market might respond it's our pleasure to talk to BCREA Chief Economist Brendon Ogmundson, who has put together a special Market Intelligence report asking five open-ended questions looking into what the post-pandemic housing market might look like. From rising mortgage rates, immigration and housing supply, to a look at when the market might return to balance.
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