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BCREA 2021 Third Quarter Housing Forecast Update: Provincial Housing Market Activity Normalizing into 2022
The British Columbia Real Estate Association (BCREA) released its 2021 Third Quarter Housing Forecast Update today. Multiple Listing Service® (MLS®) residential sales in the province are forecast to rise 26 percent to 118,350 units this year, after recording 94,007 sales in 2020. In 2022, MLS® residential sales are forecast to pull ...
Continue ReadingStrong 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 ...
Continue ReadingBank 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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