Categories for Economics

Strong Demand, Dwindling Supply for BC Housing Markets

The British Columbia Real Estate Association (BCREA) reports that a total of 12,638 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in May 2021, an increase of 178.2 per cent over May 2020 when the onset of the COVID-19 pandemic prompted a lockdown of the provincial economy. The ...

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Bank of Canada Interest Rate Announcement

The Bank of Canada maintained its overnight rate at 0.25 per cent this morning, a level it considers its effective lower bound. The Bank reiterated what it calls “extraordinary forward guidance” in committing to leaving the overnight rate at 0.25 per cent until slack in the economy is absorbed and ...

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Provincial Housing Market on a Record-Setting Pace

The British Columbia Real Estate Association (BCREA) released its 2021 Second Quarter Housing Forecast. Multiple Listing Service® (MLS®) residential sales in the province are forecast to rise 33.6 per cent to 125,600 units this year, after recording 94,013 sales in 2020. In 2022, MLS® residential sales are forecast to pull back 20.3 ...

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BCREA Housing Market Update (April 2021)

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