#bcrea

[ralphrealestate]

BC 2021 Housing Forecast

The BCREA just released the 2021 first quarter housing forecast and “The Housing Market is set up for a very strong 2021″

MLS residential sales in BC are expecting to rise by 15.6% this year and in 2022 sales are forecasted to decrease by 9%. 

“After an unprecedented and often surprising performance in 2020, the provincial housing market is set up for a very strong year in 2021. A strong economic recovery and record low mortgage rates will continue to drive strong demand this year.” Brendon Ogmundson, BCREA Chief Economist

Read the full news release here 

Have questions about buying or selling real estate in Kamloops BC? Call Helen Ralph at 250-371-1989 or Chris Ralph at 250-371-1471 we would love to help!

[rodrhearyan]

Making sure we are up to date on a well written contract - always something new to learn #professionaldevelopment @realestateboardofgv #bcrea https://www.instagram.com/p/BwZ7iEUBrIi/?utm_source=ig_tumblr_share&igshid=1kf5ovyrs4pck

[thriveokanagan]

British Columbia 2nd Quarter Housing Forecast #BCREA #BCRealEstate #Okanagan https://bit.ly/1mYTBn5

[rossspinaremax-blog]

Record Year for BC Home Sales

The BCREA (British Columbia Real Estate Association) reports:

“A record 112,209 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in 2016, an increase of 9.5 per cent from the previous year. Total sales dollar volume was a record $77.6 billion, up 18.8 per cent from 2015. The average MLS® residential price in the province climbed 8.6 per cent to $691,144 on an annual basis in 2016.

"Broad-based consumer demand driven by strong economic conditions, employment growth, consumer confidence, and an expanding population base pushed home sales to record levels in many BC regions last year," said Cameron Muir, BCREA Chief Economist. "However, home sales have fallen back from their lofty peaks early last year." The seasonally adjusted annual rate of sales activity was approximately 92,000 units in December.

A total of 4,721 residential unit sales were recorded by the MLS® in December, down 28.4 per cent from the same month last year. Total sales dollar volume was $3.1 billion last month, a decline of 33.1 per cent compared to the same month the previous year. The average MLS® residential price in the province was $654,699 in December, a 6.6 per cent decline from December 2015.”

Have questions about the Kamloops real estate market? Contact us today!

[harryyonlinwang]

Have a look at our current February Housing Update. 

[harryyonlinwang]

Vancouver housing market update by BCREA chief economist Cameron Muir. Have a watch!