Market Intelligence

New BC Real Estate Association Report Estimates Impacts of Increased Supply on BC Housing Market

Vancouver, BC – The British Columbia Real Estate Association (BCREA) has released a new Market Intelligence report estimating the potential impacts of increased housing supply on BC’s housing market. The report, Bigger, Faster…More Affordable? Evaluating the Impact of Supply-Side Policies on the BC Housing Market, finds that policies designed to streamline the development cycle are

Too Tight? The Impact of Bank of Canada Tightening on BC Housing Markets

Vancouver, BC – January 18, 2022. The number of home sales in British Columbia is expected to fall and home price growth will moderate because of rising interest rates according to a new report from the British Real Estate Association (BCREA) examining the potential impacts of the Bank of Canada’s rate tightening widely expected this

Way Out of Balance: Housing Supply and Demand During the Pandemic

Vancouver, BC – October 7, 2021. The British Columbia Real Estate Association (BCREA) has published a report quantifying the imbalance between supply and demand in the BC housing market during the COVID-19 pandemic. BCREA’s recent Market Intelligence report, Way Out of Balance: Housing Supply and Demand During the Pandemic, estimates at the peak of market

Five Questions for the Post-Pandemic Housing Market

The COVID-19 pandemic has had substantial and often counter-intuitive impacts on the BC economy and housing market. As we hopefully put the worst of the pandemic behind us and look ahead to a post-pandemic world, there remains significant uncertainty about what exactly that world is going to look like. In this Market Intelligence, we look

Supply and Demand: A Quantitative History of BC Home Prices

To view the Market Intelligence Report PDF, click here. Summary Findings: Growth in home prices is a function of many factors and those factors do not always impact prices to the same degree Shocks to housing demand and interest rates are the largest contributors to fluctuations in home prices, but provincial and municipal governments have

COVID-19: Population Growth and Housing Demand

To view the Market Intelligence Report PDF, click here. Summary Findings: Immigration is the most important driver of population growth in BC, with a growing share within the prime working-age and household-forming demographic. The global pandemic has resulted in a sharp drop in immigration and consequently BC reporting one of the lowest quarterly increases in

“The Unusual World of Pandemic Economics” – Why BC’s Housing Market Remains Strong Despite COVID-19

Vancouver, BC – September 9, 2020. The British Columbia Real Estate Association’s (BCREA) latest Market Intelligence report, The Unusual World of Pandemic Economics, points to uneven job losses across sectors, an increase in many households’ rate of savings, swift government aid, a tighter-than-ever housing supply and low interest rates as the drivers behind BC’s recent

Is It Different This Time? Recessions and the BC Housing Market

To view the Market Intelligence Report PDF, click here. Summary Findings: The 2020 COVID-19 driven recession will be deep, though the duration may be shorter than past recessions. We expect that home sales will post an initial sharp decline as households and the real estate sector adhere to social distancing. As measures implemented to mitigate

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

Potential Uptake of the First-Time Home Buyer Incentive

To view the Market Intelligence Report PDF, click here. Summary Findings: Evaluating the First-Time Home Buyer Incentive (FTHBI) based on its principle eligibility criteria, the highest potential uptake of the FTHBI would be in more affordable regions located outside of the Lower Mainland. In contrast, the lowest uptake would be in the Lower Mainland and

The Impact of the B20 Stress Test on BC Home Sales in 2018

To view the Market Intelligence Report PDF, click here. Summary Findings: The decline in home sales in 2018 was largely due to market factors like interest rates and affordability Without the stress test, home sales in BC would have been about 7,500 sales—or 10% higher—in 2018 Approximately $500 million in BC economic activity was lost