COVID-19 Recovery Dashboard Shows Home Sales Staged a Remarkable Recovery in 2020
Posted by Ron Neal on Wednesday, January 27th, 2021 at 8:17pm.
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 economic recovery, click here.
About BCREA’s COVID-19 Recovery Dashboard
The BCREA Economics team has created the COVID-19 Recovery Dashboard to help REALTORS® monitor BC’s economic recovery. This dashboard focuses on the sectors and activities that have been most significantly impacted by the pandemic, including:
- Housing Markets
- Retail, Restaurant Reservations and Movement
- Jobs and Hours Worked
- Manufacturing and International Trade
- Business and Consumer Confidences
- Tourism
To monitor the province’s progress, we benchmark each indicator to February 2020, the month before the pandemic was declared. This dashboard is updated each month.
BCREA's updated COVID-19 Recovery Dashboard is available here.
For more information, please contact:
Kellie Fong
Economist
778.357.0831
kfong@bcrea.bc.ca
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 help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.
Talk to our team to learn more
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The Neal Estate Group is your #1 source for all of your Victoria BC real estate needs. Get in touch with us online or by phone at (250) 386-8181 to speak with a Victoria real estate buying or selling expert today. With decades of experience as a top selling Victoria REALTOR® and ranked in top 1% globally with over 5,000 transactions and $1 Billion SOLD, Ron Neal & The Neal Estate Group have the industry experience and market knowledge to help you make smart and informed buying or selling decisions.