{"id":18828,"date":"2021-11-01T10:10:00","date_gmt":"2021-11-01T17:10:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=18828"},"modified":"2021-10-28T15:47:07","modified_gmt":"2021-10-28T22:47:07","slug":"bcrea-q4-housing-forecast-strong-market-activity-to-continue-in-2022","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2021\/11\/bcrea-q4-housing-forecast-strong-market-activity-to-continue-in-2022\/","title":{"rendered":"BCREA Q4 Housing Forecast &#8211; Strong Market Activity to Continue in 2022"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver, BC \u2013 October 28, 2021. The British Columbia Real Estate Association (BCREA) released its 2021 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 rise 29% to 121,450 units this year, after recording 94,013 sales in 2020. In 2022, MLS\u00ae residential sales are forecast to pull back 15 % to 102,750 units.<\/p>\n<p style=\"text-align: justify;\">\u201cAfter a frenzied start to the year, activity in BC housing markets has settled back to a level that is broadly in-line with long-run trends. The strength of the first half of this year has sales on track to easily break the previous record for annual sales,\u201d said BCREA Chief Economist, Brendon Ogmundson. \u201cWhile we do not anticipate a repeat of the record-setting market of 2021, we do expect housing market activity to remain vigorous in 2022,\u201d added Ogmundson.<\/p>\n<p style=\"text-align: justify;\">Given strong demand and very low active listings, particularly in smaller markets around BC, the average home price in BC is projected to rise 17% in 2021. Prices are forecast to rise about 3% in 2022 as the composition of home sales changes due to normalizing demand for single-family homes and a recovery in active listings helps the market balance out.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.bcrea.bc.ca\/wp-content\/uploads\/2021-10-28-forecast.pdf\" target=\"_blank\" rel=\"noopener\">Click here<\/a> for the complete news release, including detailed statistics.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.bcrea.bc.ca\/economics\/bcrea-2021-fourth-quarter-housing-forecast-strong-market-activity-to-continue-in-2022\/\" target=\"_blank\" rel=\"noopener\">BCREA 2021 Fourth Quarter Housing Forecast &#8211; Strong Market Activity to Continue in 2022<\/a> by Brendon Ogmundson | Chief Economist<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver, BC \u2013 October 28, 2021. The British Columbia Real Estate Association (BCREA) released its 2021 Fourth Quarter Housing Forecast today. Multiple Listing Service\u00ae (MLS\u00ae) residential sales in the province &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2021\/11\/bcrea-q4-housing-forecast-strong-market-activity-to-continue-in-2022\/\">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-18828","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 Q4 Housing Forecast - Strong Market Activity to Continue in 2022 &#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\/2021\/11\/bcrea-q4-housing-forecast-strong-market-activity-to-continue-in-2022\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BCREA Q4 Housing Forecast - Strong Market Activity to Continue in 2022 &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Vancouver, BC \u2013 October 28, 2021. 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