Found 5 blog entries tagged as BCREA.

BCREA August 2025 Market Update

BCREA Reports August 2025 MLS® Market Activity

Vancouver, BC – September 11, 2025. The British Columbia Real Estate Association (BCREA) reports that 5,961 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in August 2025, up 0.5 per cent from August 2024.

The average MLS® residential price in BC in August 2025 was down 1.4 per cent at $926,335 compared to $939,376 in August 2024.

The total sales dollar volume was $5.5 billion, down 0.9 per cent from the same time the previous year. BC MLS® unit sales were 24.2 per cent lower than the ten-year August average.

“We continue to see significant regional disparity in the market, with the Lower Mainland lagging behind the rest of…

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Vancouver, BC – July 14, 2025

The British Columbia Real Estate Association (BCREA) reports that 7,162 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in June 2025, up 1.3 per cent from June 2024. The average MLS® residential price in BC in June 2025 was down 4.2 per cent at $954,065 compared to $995,614 in June 2024.

The total sales dollar volume was $6.8 billion, a 3 per cent decrease from the same time the previous year. BC MLS® unit sales were 23 per cent lower than the ten-year June average.

“Many regional housing markets across BC remained resilient through the second quarter, with only the Lower Mainland falling below sales activity from the previous year,” said BCREA Chief Economist Brendon Ogmundson.…

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Pent-up Demand Builds as Tariff Uncertainty Drives Buyers to the Sideline

BCREA 2025 Second Quarter Housing Forecast

Vancouver, BC – April 30, 2025

The British Columbia Real Estate Association (BCREA) released its 2025 Second Quarter Housing Forecast today.

Multiple Listing Service® (MLS®) residential sales in BC are forecast to fall 1.1 per cent to 73,650 units this year. In 2026, MLS® residential sales are forecast to move slightly higher, rising 8.8 per cent to 80,150 units.

“Hopes for a return to normalcy in the BC housing market were swiftly dashed this year, upended by a pointless and mutually destructive trade war,” said BCREA Chief Economist Brendon Ogmundson. “While there is significant pent-up demand in the market,…

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The British Columbia Real Estate Association (BCREA) reports that a total of 5,531 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in September 2023, an increase of 10.4 per cent from September 2022. The average MLS® residential price in BC was $966,530 up 4.8 per cent compared to September 2022. The total sales dollar volume was $5.3 billion, representing a 15.7 per cent increase from the same time last year.


Renewed Bank of Canada Tightening Slows Sales Activity

“Home sales in BC have clearly been impacted by the Bank of Canada's recent tightening of interest rates, along with the resulting surge in mortgage rates,” said BCREA Chief Economist Brendon Ogmundson. “Home sales are once again trending at below average levels as potential buyers struggle with a high cost…

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Canadian real GDP was largely unchanged from the prior month in July, following a 0.2 per cent decrease in June. A decline in manufacturing activity (-1.5 per cent) pulled GDP downwards with lower inventory formation and the BC port strike as the major contributors. Meanwhile, as wildfires retreated in Eastern Canada, the mining and quarrying sector jumped 4.2 per cent. Offices of real estate agents and brokers fell 1.3 per cent, declining for the first time in 6 months. Overall, Canadian real GDP is now 3.6 per cent above its pre-pandemic, February 2020 level.

Preliminary estimates suggest that output in the Canadian economy edged up 0.1 per cent in August. July’s GDP number came in flat as anticipated, and although economic growth appears to be…

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