{"id":13474,"date":"2019-08-28T10:10:18","date_gmt":"2019-08-28T17:10:18","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=13474"},"modified":"2019-08-23T10:25:04","modified_gmt":"2019-08-23T17:25:04","slug":"bc-housing-market-are-seeing-a-moderate-rebound","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/08\/bc-housing-market-are-seeing-a-moderate-rebound\/","title":{"rendered":"BC Housing Market are Seeing a Moderate Rebound"},"content":{"rendered":"<p style=\"text-align: justify;\">In the throes of a housing correction, British Columbia\u2019s Lower Mainland might be witnessing the beginnings of recovery.<\/p>\n<p style=\"text-align: justify;\">According to an economic outlook report from Central 1 Credit Union, the signs of recovery are there, however, its deputy chief economist still calls for tapered expectations.<\/p>\n<p style=\"text-align: justify;\">\u201cWe\u2019ve started to see a bottoming in the Lower Mainland area; sales hit a bottom in the spring and summer months, but now we\u2019re seeing a moderate bounce back,\u201d said Bryan Yu. \u201cThe latest numbers from CREA [Canadian Real Estate Association] suggest there was a nice increase in July, but levels are still around 2014 levels. To keep it in context, sales are on the upswing and the labour market is helping with that.\u201d<\/p>\n<p style=\"text-align: justify;\">Although there\u2019s too little data to definitively state that the Metro Vancouver market correction is receding, Yu believes buyers have nevertheless adjusted to B-20\u2019s rigidity.<\/p>\n<p style=\"text-align: justify;\">\u201cThe change in mortgage rates and what people are receiving in the market now are a big lift for affordability, provided they meet B-20\u2019s restraints,\u201d he said. \u201cA 2.8% on a five-year fixed mortgage is a 50 basis point drop from late 2018, so the numbers favour buyers. When we combine those factors we\u2019re seeing relative affordability.\u201d<\/p>\n<p style=\"text-align: justify;\">The report also mentioned \u201crecession-like conditions\u201d in the region\u2019s resale market going back to B-20\u2019s implementation in January 2018. Yu added that sales are trending at 2012 levels and prices have dipped 10% below their peak.<\/p>\n<p style=\"text-align: justify;\">However, construction starts will stay high through the end of the year because of the buying frenzy of the last three or so years.<\/p>\n<p style=\"text-align: justify;\">\u201cYear-to-date growth is over 15% for BC, a surprisingly strong housing start performance for the first half of the year for the province,\u201d said Yu. \u201cWe have to be careful, though, because there\u2019s a lot of volatility when it comes to multifamily starts with big swings that come quickly. Our view is that given the resale and presale slowdowns, we see a drop off in momentum in the back half of 2020.\u201d<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.canadianrealestatemagazine.ca\/news\/be-wary-of-vancouver-market-rebound-297393.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">Be Wary of Vancouver Market Rebound<\/a> by Neil Sharma | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the throes of a housing correction, British Columbia\u2019s Lower Mainland might be witnessing the beginnings of recovery. According to an economic outlook report from Central 1 Credit Union, the &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/08\/bc-housing-market-are-seeing-a-moderate-rebound\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-13474","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BC Housing Market are Seeing a Moderate Rebound &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2019\/08\/bc-housing-market-are-seeing-a-moderate-rebound\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BC Housing Market are Seeing a Moderate Rebound &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"In the throes of a housing correction, British Columbia\u2019s Lower Mainland might be witnessing the beginnings of recovery. According to an economic outlook report from Central 1 Credit Union, the &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/08\\\/bc-housing-market-are-seeing-a-moderate-rebound\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/08\\\/bc-housing-market-are-seeing-a-moderate-rebound\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"BC Housing Market are Seeing a Moderate Rebound\",\"datePublished\":\"2019-08-28T17:10:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/08\\\/bc-housing-market-are-seeing-a-moderate-rebound\\\/\"},\"wordCount\":354,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Market Updates\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/08\\\/bc-housing-market-are-seeing-a-moderate-rebound\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/08\\\/bc-housing-market-are-seeing-a-moderate-rebound\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/08\\\/bc-housing-market-are-seeing-a-moderate-rebound\\\/\",\"name\":\"BC Housing Market are Seeing a Moderate Rebound &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2019-08-28T17:10:18+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/08\\\/bc-housing-market-are-seeing-a-moderate-rebound\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/08\\\/bc-housing-market-are-seeing-a-moderate-rebound\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/08\\\/bc-housing-market-are-seeing-a-moderate-rebound\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"BC Housing Market are Seeing a Moderate Rebound\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\",\"name\":\"Rory C Real Estate | Oakwyn Realty\",\"description\":\"Rory C Real Estate Updates | Home Selling &amp; Buying\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\",\"name\":\"Rory Clipsham\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"width\":504,\"height\":504,\"caption\":\"Rory Clipsham\"},\"logo\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.roryc.ca\\\/\",\"https:\\\/\\\/www.facebook.com\\\/pg\\\/BurnabyandCoquitlamHomes\\\/about\\\/?ref=page_internal\",\"https:\\\/\\\/www.instagram.com\\\/roryclipshamhomes\\\/\",\"https:\\\/\\\/x.com\\\/RoryClipsham\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"BC Housing Market are Seeing a Moderate Rebound &#8226; Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roryc.ca\/blog\/2019\/08\/bc-housing-market-are-seeing-a-moderate-rebound\/","twitter_card":"summary_large_image","twitter_title":"BC Housing Market are Seeing a Moderate Rebound &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"In the throes of a housing correction, British Columbia\u2019s Lower Mainland might be witnessing the beginnings of recovery. According to an economic outlook report from Central 1 Credit Union, the &hellip; [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2019\/08\/bc-housing-market-are-seeing-a-moderate-rebound\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2019\/08\/bc-housing-market-are-seeing-a-moderate-rebound\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"BC Housing Market are Seeing a Moderate Rebound","datePublished":"2019-08-28T17:10:18+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2019\/08\/bc-housing-market-are-seeing-a-moderate-rebound\/"},"wordCount":354,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"articleSection":["Market Updates"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2019\/08\/bc-housing-market-are-seeing-a-moderate-rebound\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2019\/08\/bc-housing-market-are-seeing-a-moderate-rebound\/","url":"https:\/\/www.roryc.ca\/blog\/2019\/08\/bc-housing-market-are-seeing-a-moderate-rebound\/","name":"BC Housing Market are Seeing a Moderate Rebound &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2019-08-28T17:10:18+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2019\/08\/bc-housing-market-are-seeing-a-moderate-rebound\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2019\/08\/bc-housing-market-are-seeing-a-moderate-rebound\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2019\/08\/bc-housing-market-are-seeing-a-moderate-rebound\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"BC Housing Market are Seeing a Moderate Rebound"}]},{"@type":"WebSite","@id":"https:\/\/www.roryc.ca\/blog\/#website","url":"https:\/\/www.roryc.ca\/blog\/","name":"Rory C Real Estate | Oakwyn Realty","description":"Rory C Real Estate Updates | Home Selling &amp; Buying","publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.roryc.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":["Person","Organization"],"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7","name":"Rory Clipsham","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","width":504,"height":504,"caption":"Rory Clipsham"},"logo":{"@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg"},"sameAs":["http:\/\/www.roryc.ca\/","https:\/\/www.facebook.com\/pg\/BurnabyandCoquitlamHomes\/about\/?ref=page_internal","https:\/\/www.instagram.com\/roryclipshamhomes\/","https:\/\/x.com\/RoryClipsham"]}]}},"_links":{"self":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/13474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/comments?post=13474"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/13474\/revisions"}],"predecessor-version":[{"id":13475,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/13474\/revisions\/13475"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=13474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=13474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=13474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}