COVID-19 Recovery Dashboard Shows Home Sales Staged a Remarkable Recovery in 2020

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.