{"id":1584,"date":"2020-08-31T09:00:00","date_gmt":"2020-08-31T16:00:00","guid":{"rendered":"https:\/\/rodrhearyan.com\/blog\/realtor-mary-hill-rod-and-rhea-hayes-ryan-real-estate-neighbourhood-royal-lepage-sterling-market-forecast-strong-recovery-increase-sale-price-2021-covid-supply-demand\/"},"modified":"2026-04-08T09:24:28","modified_gmt":"2026-04-08T16:24:28","slug":"realtor-mary-hill-rod-and-rhea-hayes-ryan-real-estate-neighbourhood-royal-lepage-sterling-market-forecast-strong-recovery-increase-sale-price-2021-covid-supply-demand","status":"publish","type":"post","link":"https:\/\/www.rodrhearyan.com\/blog\/realtor-mary-hill-rod-and-rhea-hayes-ryan-real-estate-neighbourhood-royal-lepage-sterling-market-forecast-strong-recovery-increase-sale-price-2021-covid-supply-demand\/","title":{"rendered":"Third Quarter Housing Forecast Update: Surprisingly Strong Recovery to Propel Housing Market in 2021(via BCREA)"},"content":{"rendered":"<p style=\"text-align: center;\">Multiple Listing Service<sup>&reg;<\/sup> (MLS<sup>&reg;<\/sup>) residential sales in the province are forecast to rise 6.5 per cent to 82,380 units this year, after recording 77,351 residential sales in 2019. MLS<sup>&reg;<\/sup>residential sales are forecast to increase 17.6 per cent to 96,860 units in 2021.<\/p>\n<p style=\"text-align: center;\">&#8220;The outlook for the BC housing market is much brighter following a surprisingly strong recovery,&#8221; said Brendon Ogmundson, BCREA Chief Economist. &#8220;We expect home sales will sustain this momentum into 2021, aided by record-low mortgage rates and a recovering economy.&#8221;<\/p>\n<p style=\"text-align: center;\">With home sales more than fully recovered and now above pre-COVID-19 levels, combined with a decline in the supply of re-sale listings driven by the pandemic, many markets are now seeing sharply rising average prices despite a weak provincial economy. We are forecasting the provincial MLS<sup>&reg;<\/sup> average price to finish the year up 7.7 per cent and to increase a further 3.7 per cent in 2021&#8230;<\/p>\n<p style=\"text-align: center;\">&nbsp;<\/p>\n<p style=\"text-align: center;\">&nbsp;<\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/www.bcrea.bc.ca\/wp-content\/uploads\/housingforecast_.pdf\">CLICK HERE For Full Stats PDF<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Multiple Listing Service&reg; (MLS&reg;) residential sales in the province are forecast to rise 6.5 per cent to 82,380 units this year, after recording 77,351 residential sales &hellip;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-1584","post","type-post","status-publish","format-standard","hentry","category-leisure"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/1584","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/comments?post=1584"}],"version-history":[{"count":1,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/1584\/revisions"}],"predecessor-version":[{"id":3306,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/1584\/revisions\/3306"}],"wp:attachment":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/media?parent=1584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/categories?post=1584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/tags?post=1584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}