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