{"id":9327,"date":"2018-05-31T08:08:32","date_gmt":"2018-05-31T15:08:32","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=9327"},"modified":"2018-05-31T07:29:05","modified_gmt":"2018-05-31T14:29:05","slug":"bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/05\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\/","title":{"rendered":"BCREA Q2 Housing Forecast Update : Slower Growth Expected for Economy &#038; Housing Market"},"content":{"rendered":"<p style=\"text-align: justify;\">BCREA 2018 Second Quarter Housing Forecast Update<\/p>\n<p style=\"text-align: justify;\">Vancouver, BC \u2013 May 31, 2018. The British Columbia Real Estate Association (BCREA) released its 2018 Second 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 9% to 94,200 units this year, after posting 103,700 unit sales in 2017. MLS\u00ae residential sales are forecast to remain relatively unchanged in 2019, albeit down 0.2% to 94,000 units. Housing demand is expected to remain above the 10-year average of 84,800 units into 2020.<\/p>\n<p style=\"text-align: justify;\">\u201cThe housing market continues to be supported by a strong economy,\u201d said Cameron Muir, BCREA Chief Economist. \u201cHowever, slower economic growth is expected over the next two years as the economy is nearing full employment and consumers have stepped back from their 2017 spending spree.\u201d<\/p>\n<p style=\"text-align: justify;\">\u201cDemographics will play a key role in the housing market over the next few years,\u201d added Muir, \u201cas growth in the adult-aged population is bolstered by immigration and the massive millennial generation enters its household forming years.\u201d<\/p>\n<p style=\"text-align: justify;\">Muir notes there are, however, significant headwinds in the housing market. \u201cRising mortgage interest rates will further erode affordability and purchasing power, with the effect being exacerbated by an already high price level. The legacy of tougher mortgage qualifications for conventional mortgagors will be a reduction of their purchasing power by up to 20%, and the provincial government\u2019s expansion of the foreign buyer tax and several other policies aimed at taxing wealth is sending a negative signal to the market and likely diverting investment elsewhere.\u201d<\/p>\n<p style=\"text-align: justify;\">The combination of slowing housing demand and rising new home completions is expected to trend most BC markets toward balanced conditions this year, and lead to less upward pressure on home prices.<\/p>\n<p>\u00a0\u00a0\u00a0\u00a0 <a href=\"https:\/\/www.roryc.ca\/blog\/?attachment_id=9328\" rel=\"attachment wp-att-9328\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-9328\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/05\/BCREA-1-288x216.jpg\" alt=\"\" width=\"561\" height=\"421\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/05\/BCREA-1-288x216.jpg 288w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/05\/BCREA-1.jpg 600w\" sizes=\"auto, (max-width: 561px) 100vw, 561px\" \/><\/a><\/p>\n<p><a href=\"http:\/\/www.bcrea.bc.ca\/docs\/news-2018\/2018-05-31forecast.pdf?sfvrsn=2\" target=\"_blank\" rel=\"noopener\">Click here<\/a> for the complete news release, including detailed statistics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BCREA 2018 Second Quarter Housing Forecast Update Vancouver, BC \u2013 May 31, 2018. The British Columbia Real Estate Association (BCREA) released its 2018 Second Quarter Housing Forecast today. Multiple Listing &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/05\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\/\">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-9327","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BCREA Q2 Housing Forecast Update : Slower Growth Expected for Economy &amp; Housing Market &#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\/2018\/05\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BCREA Q2 Housing Forecast Update : Slower Growth Expected for Economy &amp; Housing Market &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"BCREA 2018 Second Quarter Housing Forecast Update Vancouver, BC \u2013 May 31, 2018. The British Columbia Real Estate Association (BCREA) released its 2018 Second Quarter Housing Forecast today. Multiple Listing &hellip; [read more]\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/05\/BCREA-1.jpg\" \/>\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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/05\\\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/05\\\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"BCREA Q2 Housing Forecast Update : Slower Growth Expected for Economy &#038; Housing Market\",\"datePublished\":\"2018-05-31T15:08:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/05\\\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\\\/\"},\"wordCount\":292,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"image\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/05\\\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2018\\\/05\\\/BCREA-1-288x216.jpg\",\"articleSection\":[\"Market Updates\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/05\\\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/05\\\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/05\\\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\\\/\",\"name\":\"BCREA Q2 Housing Forecast Update : Slower Growth Expected for Economy & Housing Market &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/05\\\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/05\\\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2018\\\/05\\\/BCREA-1-288x216.jpg\",\"datePublished\":\"2018-05-31T15:08:32+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/05\\\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/05\\\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/05\\\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2018\\\/05\\\/BCREA-1.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2018\\\/05\\\/BCREA-1.jpg\",\"width\":600,\"height\":450},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/05\\\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"BCREA Q2 Housing Forecast Update : Slower Growth Expected for Economy &#038; Housing Market\"}]},{\"@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":"BCREA Q2 Housing Forecast Update : Slower Growth Expected for Economy & Housing Market &#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\/2018\/05\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\/","twitter_card":"summary_large_image","twitter_title":"BCREA Q2 Housing Forecast Update : Slower Growth Expected for Economy & Housing Market &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"BCREA 2018 Second Quarter Housing Forecast Update Vancouver, BC \u2013 May 31, 2018. The British Columbia Real Estate Association (BCREA) released its 2018 Second Quarter Housing Forecast today. Multiple Listing &hellip; [read more]","twitter_image":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/05\/BCREA-1.jpg","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2018\/05\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/05\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"BCREA Q2 Housing Forecast Update : Slower Growth Expected for Economy &#038; Housing Market","datePublished":"2018-05-31T15:08:32+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/05\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\/"},"wordCount":292,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"image":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/05\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\/#primaryimage"},"thumbnailUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/05\/BCREA-1-288x216.jpg","articleSection":["Market Updates"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2018\/05\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2018\/05\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\/","url":"https:\/\/www.roryc.ca\/blog\/2018\/05\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\/","name":"BCREA Q2 Housing Forecast Update : Slower Growth Expected for Economy & Housing Market &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/05\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\/#primaryimage"},"image":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/05\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\/#primaryimage"},"thumbnailUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/05\/BCREA-1-288x216.jpg","datePublished":"2018-05-31T15:08:32+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/05\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2018\/05\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\/"]}]},{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/2018\/05\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\/#primaryimage","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/05\/BCREA-1.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/05\/BCREA-1.jpg","width":600,"height":450},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2018\/05\/bcrea-q2-housing-forecast-update-slower-growth-expected-for-economy-housing-market\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"BCREA Q2 Housing Forecast Update : Slower Growth Expected for Economy &#038; Housing Market"}]},{"@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\/9327","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=9327"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/9327\/revisions"}],"predecessor-version":[{"id":9329,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/9327\/revisions\/9329"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=9327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=9327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=9327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}