Recession and the BC Housing Market!  April update from BCREA


IS IT DIFFERENT THIS TIME?  Recession and the BC Housing Market.


If you have been trying to gain greater clarity and knowledge around our BC Real Estate economy since the COVID-19 Recession has hit, or you are looking to understand, what next moves to make in buying or selling your home amidst this unprecedented time.

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 significant recover in home sales and prices.

FOR THE  BCREA LATEST UPDATE: READ LINK BELOW!