{"id":14134,"date":"2019-11-11T10:10:14","date_gmt":"2019-11-11T18:10:14","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=14134"},"modified":"2019-11-06T11:23:16","modified_gmt":"2019-11-06T19:23:16","slug":"bcrea-forecast-homes-sales-carry-momentum-into-2020","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/11\/bcrea-forecast-homes-sales-carry-momentum-into-2020\/","title":{"rendered":"BCREA Forecast Homes Sales Carry Momentum into 2020"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver, BC \u2013 November 6, 2019. The British Columbia Real Estate Association (BCREA) released its 2019 Fourth Quarter Housing Forecast today.<\/p>\n<p style=\"text-align: justify;\">Multiple Listing Service\u00ae (MLS\u00ae) residential sales in the province are forecast to decline 1.8% to about 77,100 units this year, after recording 78,505 residential sales in 2018. MLS\u00ae residential sales are forecast to increase 10.9% to 85,500 units in 2020, just below the 10-year average for MLS\u00ae residential sales of 85,800 units.<\/p>\n<p style=\"text-align: justify;\">\u201cAfter a slow start to 2019, MLS\u00ae home sales in BC have embarked on a sustained upward trend since the spring,\u201d said Brendon Ogmundson, BCREA Chief Economist. \u201cThe dampening effects of federal mortgage rules mean that rather than a return to the heights of recent years, home sales are simply returning to trend after sustaining a significant shock.\u201d<\/p>\n<p style=\"text-align: justify;\">As demand normalizes, the accumulation of resale inventory has reversed course in many markets around BC. We anticipate that this trend will continue in 2020, with sales and listings finding balance. For most markets, this will mean price growth that is in-line with inflation, though for some supply-constrained areas we are forecasting strong price growth. We anticipate that the MLS\u00ae average price will decline 2% in 2019 before rising modestly by 3.6% to $723,000 in 2020.<\/p>\n<p>\u00a0\u00a0\u00a0 <a href=\"https:\/\/www.roryc.ca\/blog\/?attachment_id=14135\" rel=\"attachment wp-att-14135\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-14135\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/11\/BCREA-288x216.jpg\" alt=\"\" width=\"585\" height=\"439\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/11\/BCREA-288x216.jpg 288w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/11\/BCREA.jpg 600w\" sizes=\"auto, (max-width: 585px) 100vw, 585px\" \/><\/a><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.bcrea.bc.ca\/wp-content\/uploads\/2019-11-06-forecast.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Click here<\/a> for the complete news release, including detailed statistics.<\/p>\n<p style=\"text-align: justify;\">B<a href=\"https:\/\/www.bcrea.bc.ca\/economics\/housing-forecast\/\" target=\"_blank\" rel=\"noopener noreferrer\">CREA 2019 Fourth Quarter Housing Forecast &#8211; BC Homes Sales Carry Momentum into 2020<\/a> by Brendon Ogmundson<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver, BC \u2013 November 6, 2019. The British Columbia Real Estate Association (BCREA) released its 2019 Fourth Quarter Housing Forecast today. Multiple Listing Service\u00ae (MLS\u00ae) residential sales in the province &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/11\/bcrea-forecast-homes-sales-carry-momentum-into-2020\/\">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-14134","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BCREA Forecast Homes Sales Carry Momentum into 2020 &#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\/11\/bcrea-forecast-homes-sales-carry-momentum-into-2020\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BCREA Forecast Homes Sales Carry Momentum into 2020 &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Vancouver, BC \u2013 November 6, 2019. The British Columbia Real Estate Association (BCREA) released its 2019 Fourth Quarter Housing Forecast today. 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