COVID-19 Recovery Dashboard - January 27, 2021

This month’s COVID-19 Recovery Dashboard shows that home sales staged a remarkable recovery during the pandemic and recession in 2020 that will fuel momentum in 2021. However, record low levels of supply across the province will likely translate into considerable upward pressure on prices until listings pick-up. Consumer confidence is still weak amid rising COVID-19 cases and tightened restrictions, which have reduced movement around the province. Meanwhile, business confidence is up as manufacturing and international trade have recovered from their pre-pandemic levels, and the vaccine rollout has led many businesses to expect a rise in sales in 2021. For a more comprehensive overview of BC's

Provincial Housing Market Set Up for Very Strong 2021

BCREA 2021 First Quarter Housing Forecast Update

Vancouver, BC – January 25, 2021. The British Columbia Real Estate Association (BCREA) released its 2021 First Quarter Housing Forecast Update today.

Multiple Listing Service® (MLS®) residential sales in the province are forecast to rise 15.6 percent to 108,680 units this year, after recording 94,021 sales in 2020. In 2022, MLS® residential sales are forecast to pull back 9 percent to 98,850 units. 

“After an unprecedented and often surprising performance in 2020, the provincial housing market is set up for a very strong year in 2021,” said Brendon Ogmundson, BCREA Chief Economist. “A strong economic recovery and record-low

Private, Central, Renovated, Ground Floor Condo

Amazing private ground floor, large 2 bedrooms, 2 bath condo.

The Master Bedroom is spacious with an Ensuite. Updated Kitchen, Washer, and Dryer in the unit and Gas Fireplace.

Underground Parking and Storage Lockers.

Central to amenities, schools, parks, and transit.

Rentals and pets allowed with Restrictions, and BBQs are allowed.

Find Out More About 104-3363 Glasgow Avenue

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Canadian Retail Sales (Nov) - January 22, 2021

Canadian retail sales rose for the seventh consecutive month in November by 1.3% on a seasonally-adjusted basis, defying Statistic Canada's preliminary estimate of no change. Sales were up in 7 of 11 subsectors, representing 53% of retail sales. The increase was led by higher sales at food and beverage stores. Compared to the same time last year, retail sales were up by 7.5%.    

Sales were up in all provinces except for Manitoba. In BC, seasonally-adjusted retail sales were up by 0.8% ($8.0 billion) and by 1.4% ($3.7 billion) in Vancouver. Contributing the most to the increase were sales at electronic and appliance stores, while sales were down at auto dealers and gas stations. Compared to

Bank of Canada Interest Rate Announcement  - January 20, 2021

The Bank of Canada maintained its overnight rate at 0.25 per cent this morning, a level it considers its effective lower bound. The Bank reiterated what it calls "extraordinary forward guidance" in committing to leaving the overnight rate at 0.25 per cent until slack in the economy is absorbed and inflation sustainably returns to its 2 per cent target. The  Bank projects that will not occur until 2023. The Bank is also continuing its quantitative easing (QE) program, purchasing at least $4 billion of Government of Canada bonds per week. In the statement accompanying the decision, the Bank noted that the economic recovery has been interrupted by the second wave of COVID-19, but

Watch BCREA Chief Economist Brendon Ogmundson
discuss the December 2020 statistics.

Click here to visit BCREA's YouTube channel. Read the news release here.

For more information, please contact:  

BCREA is the professional association for more than 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research, and standard forms to help REALTORS® provide value for their clients.

To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that

Westhills Home with a Carriage Suite

Welcome to 3015 Dornier Road, a delightful Westhills home with a carriage house.

This contemporary home is situated between two roads to create complete privacy from the separate carriage house; the main house is located on a quiet street with loads of parking available out front, while the carriage suite has its own, separate access from the road behind, a unique situation offering income without loss of privacy.

As you enter this lovely home you are greeted with laminate floors, a cozy fireplace, bay windows in an open floor plan that connects the family room, dining room, and office featuring built-in shelving, and a large, bright kitchen.

The kitchen features quartz countertops, stainless

Housing Market Slows, but Resilient in Response to Pandemic

Vancouver, BC – January 13, 2021. The British Columbia Real Estate Association (BCREA) reports that a total of 93,953 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in 2020, an increase of 21.5 per cent from the 77,350 units sold in 2019. The annual average MLS® residential price in BC was $782,027, an 11.7 per cent increase from $700,369 recorded the previous year. Total sales dollar volume was $73.5 billion, a 35.6 per cent increase from 2019.

“Housing markets across the province staged a remarkable recovery during the COVID-19 pandemic and recession,” said BCREA Chief Economist Brendon Ogmundson. “We expect considerable momentum heading into 2021.”

A

Private Family Home Near Everything

Beautiful family home is tucked in the back of the Kettle Creek subdivision bordering on green space, so no back neighbors here except mother nature!

Boasting 5 bedrooms, 2 baths & offering fully fenced backyard.

Perfect for kids, pets, BBQ's & enjoying the outdoor space & mountain views.

Main level includes open concept living, dining & kitchen area - 2 skylights, stainless steel appliances, granite countertops, pot lighting, surround speakers (in and out) 9 ft ceilings, 2 beds & 4 pc bath.

Lower level consists of three beds, one a generous master suite w/ walk-in closet, family/media room w/ outside access, laundry rm & 3 pc bath.

200 Amp service with 50 Amp outdoor for car charger or

Unique Shawnigan Acreage

A peaceful treed winding driveway leads you to your unique Shawnigan Lake acreage, the home you have been waiting for.

West Coast style with all the charm including wood floors, vaulted ceilings, and skylights.

On either side of the foyer, a beautiful office and loft-style guest bedroom are located.

Moving into the great room get cozy beside your wood-burning fireplace with ample room to spread out and look out to the mountain and forest beyond.

If you look closely you will find a hidden door in the rockwork to a large rec room with unfinished loft above great for a games room, mans cave, theatre, or whatever you have on your mind.

The kitchen is the hub of the house making it the perfect