Economic Recovery and Low Rates Drive Housing Market in 2021
BCREA 2020 Fourth Quarter Housing Forecast
Vancouver, BC – November 4, 2020. The British Columbia Real Estate Association (BCREA) released its 2020 Fourth Quarter Housing Forecast today.
Multiple Listing Service® (MLS®) residential sales in the province are forecast to rise 16.9 per cent to 90,450 units this year, after recording 77,350 residential sales in 2019. MLS® residential sales are forecast to increase 9.7 per cent to 99,240 units in 2021.
“The housing market had a record fall season and prices are rapidly rising as pent-up demand floods into an under-supplied market,” said Brendon Ogmundson, BCREA Chief Economist. “As that pent-up demand fades, sales will likely
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