(AP Photo/Elaine Thompson, File)

(AP Photo/Elaine Thompson, File)

16% boom predicted for B.C. real estate sales in 2021: experts

Along with sales, the average price of homes is also predicted to rise, by nearly 8 percent

The B.C. Real Estate Association is predicting a nearly 16 per cent uptick in sales in 2021 amid a rebounding in market listings since the start of the pandemic.

“The provincial housing market is set up for a very strong year,” said BCREA chief economist Brendon Ogmundson in the release of the association’s first quarter housing forecast, released Jan. 25.

“Record-low mortgage rates will continue to drive strong demand this year.”

Overall, the province is predicted to see 108,680 units sold in 2021 – up from 94,021 sales last year – before analysts expect a downturn in 2022 to just 98,850 units changing hands.

READ MORE: Vancouver’s real estate market up 22% in 2020, despite pandemic

Along with sales, the average price of homes is also predicted to rise, by nearly eight percent.

In the Fraser Valley, nearly 17 per cent, or 3,129 more units, are expected to change hands with increased sales in 2021.

A similar climb is predicted – at a nearly 22 per cent uptick in real estate sales – for Greater Vancouver this year.



sarah.grochowski@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Want to support local journalism? Make a donation here.

BusinessFraser ValleyhomeReal estate

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

The temporary skatepark will be placed between the Capital News Centre (in the parking area) and H20, pictured here (Kelowna Skateboard Association/Contributed).
Kelowna skateboarders hope to get Lower Mission park

The Kelowna Skateboard Association is helping a group of kids get a skatepark for the summer

The Vernon Community Arts Centre is seeking member artist submissions for a summer exhibit called Enchanted: A World of Fantasy. Submissions are open until June 30, 2021. (VCAC photo)
Vernon artists’ fantasy worlds wanted for summer exhibit

Vernon Community Arts Centre is seeking submissions for Enchanted: A World of Fantasy

Mamas for Mamas worked with local roaster Tug 6 to create three special blends. (Mamas for Mamas/Contributed)
Kelowna coffee roaster partners with non-profit for specialty blends

Mamas for Mamas has three specialty blends sold from Tug 6

A TacoTime employee hands a customer their order. (Aaron Hemens/Capital News)
Adiós, Taco Tuesday: Kelowna residents flock to TacoTime on restaurant’s final day

‘We don’t need another Starbucks. We need tacos on Tuesday, with extra hot sauce’

RCMP are searching for Philip Toner, who is a 'person of interest' in the investigation of a suspicious death in Kootenay National Park last week. Photo courtesy BC RCMP.
Man sought in suspicious Kootenay death found in Lake Country

Philip Toner is a person of interest in the death of Brenda Ware

Sisters Audrey Cunningham and Donna Erdman, join the Vernon Kalamalka Chorus singing in their cars, tuned into the radio, under the direction of Debbie Parmenter. (Jennifer Smith - Morning Star)
VIDEO: Okanagan choir steers around COVID with ‘carbershop’ twist

Singers find a unique way to practice during pandemic restrictions

Keith MacIntyre - BC Libertarian
Penticton’s Keith MacIntyre new leader of the B.C. Libertarian Party

The Penticton businessman was voted in by members of the party on May 8

A Falkland man will present a 600+ signature petition to the Columbia Shuswap Regional District board Thursday, May 20, opposing dog control in Electoral Area D, which includes Falkland, Silver Creek, Salmon Valley and Ranchero/Deep Creek. (File photo)
600-plus sign Falkland man’s petition against dog control

Similar bylaw rejected by 200 public hearing attendees when topic came up 9 years ago

Thompson Rivers University campus is in Kamloops, B.C. (KTW file photo)
Thompson Rivers the 1st B.C. university to supply free menstrual products

The university will offer the products this September

Fraser Health is using ‘targeted’ vaccination clinics in high-risk areas of the Lower Mainland. (Fraser Health photo)
B.C.’s COVID-19 decrease continues, 515 new cases Tuesday

426 seriously ill people in hospital, up from 415 Monday

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Vernon North Okanagan RCMP reported to 287 mental health calls between Jan. 1, 2021, and May 1. (Black Press files)
‘It’s not the police’s responsibility to deal with mental health calls’: Vernon RCMP

RCMP remind public to take care of mental health and well-being, while better solutions are sought

RCMP. (Black Press File)
Major Crimes called in after two bodies discovered near Penticton

A manhunt involving a police helicopter took place on May 10

The site of Sunfest, Laketown Ranch, will be open for camping this summer. (Citizen file)
Sunfest country music bash won’t be shining on B.C. in 2021

Annual Vancouver Island Festival cancelled due to COVID-19, along with Laketown Shakedown

Most Read