The British Columbia Housing market is directly affected by Canadian interest rates. After the surprise depend during COVID-19, with low rates, the market was brisk.
Now with inflation reaching 30 year highs, the Bank of Canada has risen rates in attempts to mitigate costs. The housing market will be quite different than it was in the last two years. Inventory is still low and it is not anticipated that a balanced market will not be for some time. Markets remain tight but is a fine balance between prices and product. It is anticipated prices will fluctuate but ultimately flatten out in 2023 according to the British Columbfia Real Estate Association housing forecast
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.