Third Quarter – August 2021
The pace of home sales in the province has slowed in recent months but an unprecedented start to the year still has BC on track for a record-breaking year.
An expected second-half slowdown has arrived, prompted by eroding affordability and a tightening of mortgage qualification rules. However, with the BC economy on track for very strong growth this year and next, along with the eventual return of normal migration flows, home sales are anticipated to remain well above long-run average levels into 2022.
Canadian mortgage rates have remained stable after rising from...