CLICK HERE to watch BCREA Chief Economist Brendon Ogmundson discuss the February 2020 statistics
Download the full report by BCREA's Economics Market Intelligence: Sketching Out the Potential Impact of COVID-19 on the BC Housing Market March 17, 2020. Click HERE
Overall Summary Findings:
- While it's unknown how the unfolding COVID-19 outbreak will impact the economy in the long-term, BC is facing a sudden stop in economic activity with little guidance to when things may return to normal.
- Based on our scenario analysis, BC home sales and prices will likely face declines in the spring and early summer but should recover along with the wider economy in the second half of the year, contingent on the outbreak resolving.
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