More disposable income, tight supply keep B.C. housing market strong despite COVID-19: report
the Editors • October 8, 2020
Not even a global pandemic can keep the province's real estate industry down.
The British Columbia Real Estate Association’s latest report, The Unusual World of Pandemic Economics, seems to contradict its title. Or maybe that’s the point.
In any case, the hammering that many parts of the economy have seen thanks to the COVID-19 pandemic hasn’t been felt by the province’s real estate industry, at least according to the BCREA.
“Looking at recent data in the housing market, it would be difficult to tell there was a recession at all,” said BCREA chief economist Brendon Ogmundson in a release. “In a typical recession, we would see falling demand and rising supply, but this recession is anything but typical.”
The report points to uneven job losses across sectors, an increase in many households’ rate of savings, swift government aid, a tighter-than-ever housing supply and low interest rates as the drivers behind B.C.’s recent housing market highs.
Notably, high-income households have been much less affected by the crisis than middle- or lower income families. Household savings and disposable income have also increased, with the latter jumping 11 percent from the first quarter of 2020 to the second, according to the report.
With people not as keen to show their homes or move during the pandemic, supply has shrunk, too, creating some pent-up demand.
The BCREA’s current prediction for 2020 MLS sales is in the 80,000 range, which would beat 2019’s tally of 77,331. The group is also predicting a massive bump for next year.
“We expect home sales will sustain this momentum into 2021, aided by record-low mortgage rates and a recovering economy,” noted Ogmundson.
Fraser Valley Real Estate Market Update | 2025 Year-End Review I love looking at the numbers. Not just the headlines, but what the numbers actually tell us when you slow down and connect the dots. And the headline for 2025 is simple. π Sales in the Fraser Valley fell to their lowest level in more than 20 years. That sounds dramatic. But this wasn’t a collapse. It was a pause. π₯ In this video, I walk through the full year-end 2025 statistics from the Fraser Valley Real Estate Board, break down what really defined the market, and explain what actually matters going forward. π Here’s what I cover in this update: π 2025 Fraser Valley sales volume and historical context ποΈ Why rising inventory changed buyer behaviour π What the sales-to-active listings ratio tells us π² Benchmark pricing by property type π§ Why confidence matters as much as the numbers π How buyers and sellers should position heading into 2026 π Market data referenced in this video: • Year-end statistics from the Fraser Valley Real Estate Board • Benchmark pricing and HPI trends • Sales-to-active listings ratios • Detached, townhome, and apartment breakdowns β οΈ Important note: Market statistics provide context, not guarantees. Real estate is local. Strategy matters. π Full market stats link: https://rly.forsale/DecStats
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SURREY, BC – Decade-high inventory and softer prices failed to spark buyer demand in the Fraser Valley in 2025. Despite favourable conditions and increased negotiating power, many buyers stayed on the sidelines, making it one of the slowest years for sales in decades. The Fraser Valley Real Estate Board recorded 12,224 sales on its Multiple Listing Service® (MLS®) in 2025, a decline of 16 per cent over 2024 and 33 per cent below the 10-year average. The City of Surrey accounted for the majority of 2025 sales at 48 per cent, with Langley and Abbotsford accounting for 24 per cent and 16 per cent respectively. On the supply side, buyers had more choice than at any point in the past four decades, as new listings climbed to 37,963. The composite Benchmark home price in the Fraser Valley closed the year at $905,900, down six per cent year-over-year, and down 24 per cent from the peak in March 2022.
