" Housing demand in the province is expected to moderate this year and in 2109," said Cameron Muir, BCREA
Chief Economist. "More stringent mortgage qualifications and rising interest rates will further erode affordability
and household purchasing power. With home prices already at an elevated level, BC households are more
vulnerable to rising interest rates."
The supply of homes for sale continues to trend at or near decade lows in most BC regions.
The average MLS residential price in the province is forecast to increase 6.0 per cent to $752,000 this year and a further 4.0 per cent to $781,000 in 2019.