{"id":25256,"date":"2025-02-03T10:10:08","date_gmt":"2025-02-03T18:10:08","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=25256"},"modified":"2025-01-27T12:29:14","modified_gmt":"2025-01-27T20:29:14","slug":"bcrea-q1-housing-market-forecast-update-sales-to-strengthen-further-average-price-is-projected-to-rise","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2025\/02\/bcrea-q1-housing-market-forecast-update-sales-to-strengthen-further-average-price-is-projected-to-rise\/","title":{"rendered":"BCREA Q1 Housing Market Forecast Update &#8211; Sales to Strengthen Further, Average Price is Projected to Rise"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver, BC \u2013 January 27, 2025. The British Columbia Real Estate Association (BCREA) released its 2025 First Quarter Housing Forecast Update today.<\/p>\n<p style=\"text-align: justify;\">Multiple Listing Service\u00ae (MLS\u00ae) residential sales in BC are forecast to increase 14.3% to 85,140 units this year. In 2026, MLS\u00ae residential sales are forecast to strengthen further, rising to 87,670 units.<\/p>\n<p style=\"text-align: justify;\">\u201cMarkets across BC closed 2024 with significant momentum,\u201d said BCREA Chief Economist Brendon Ogmundson. \u201cWhile we are entering 2025 with a high level of optimism and expectations for increased activity, the potential for punishing tariffs on BC exports to the United States presents significant uncertainty for the outlook.\u201d<\/p>\n<p>Although new listings activity has been much stronger than last year, the accumulation of inventory in 2024 had much more to do with a prolonged slump in home sales. With active listings returning to more healthy levels across BC, we expect that the market will be able to absorb the coming rise in sales activity without a sharp increase in prices. Nonetheless, following a year of flat prices, the average price in BC is projected to rise by 4.5% in 2025, driven by a strong recovery in overall housing demand.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.bcrea.bc.ca\/wp-content\/uploads\/2025-01-housing-forecast-news-release.pdf\" target=\"_blank\" rel=\"noopener\">Click here<\/a> to view the complete news release, including detailed statistics.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.bcrea.bc.ca\/economics\/housing-forecast-update\/\" target=\"_blank\" rel=\"noopener\">BCREA 2025 First Quarter Housing Forecast Update &#8211; Economic Uncertainty Clouds an Otherwise Positive Outlook<\/a> by Brendon Ogmundson | Chief Economist | BCREA<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver, BC \u2013 January 27, 2025. The British Columbia Real Estate Association (BCREA) released its 2025 First Quarter Housing Forecast Update today. Multiple Listing Service\u00ae (MLS\u00ae) residential sales in BC &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2025\/02\/bcrea-q1-housing-market-forecast-update-sales-to-strengthen-further-average-price-is-projected-to-rise\/\">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":[8,13],"tags":[],"class_list":["post-25256","post","type-post","status-publish","format-standard","hentry","category-market-updates","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BCREA Q1 Housing Market Forecast Update - Sales to Strengthen Further, Average Price is Projected to Rise &#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\/2025\/02\/bcrea-q1-housing-market-forecast-update-sales-to-strengthen-further-average-price-is-projected-to-rise\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BCREA Q1 Housing Market Forecast Update - Sales to Strengthen Further, Average Price is Projected to Rise &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Vancouver, BC \u2013 January 27, 2025. 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