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BCREA Market Intelligence Report

The latest BCREA Market Intelligence Report: Is It Different This Time? Recessions and the BC Housing Market examines the impact of past recessions on the BC housing market and provides preliminary projections on how COVID-19 may impact provincial home sales and prices over the next 24 months. Click here to read the full report.

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 the spread of COVID-19 are gradually lifted, we expect that low interest rates and pent-up demand will translate to a significant recovery in home sales and prices.

MLS Unit Sales

“Copyright British Columbia Real Estate Association. Reprinted with permission.” BCREA makes no guarantees as to the accuracy or completeness of this information.