BCREA 2021 Second Quarter Housing Forecast
ECONOMICSHousing ForecastSecond Quarter – May 2021The record-setting pace of home sales that began inlate fall of 2020 has continued into 2021 with marketsacross the province eclipsing previous monthly salesrecords by wide margins. Early in the recovery, thatrecord pace was led by markets outside of largemetropolitan areas as buyers flocked to less populatedmarkets with greater availability and affordability ofsingle-detached homes. However, with the economicrecovery in full swing and mortgage rates still nearrecord lows, sales in large markets have ramped up,putting provincial home sales on track for a record year.The trajectory of home sales in the second half of2021 and for 2022 will be highly dependent on theevolution of Canadian mortgage rates. Fixed mortgagerates have started to rise from a record-low averageof 1.8 per cent to just over 2 per cent and couldrise further as the Bank of Canada tapers its bondpurchases through 2021.Additionally,the recent change to the B-20 mortgagestress test, which now sets a minimum qualifying rateof 5.25 per cent, may have some moderatiang impacton demand, though limited as it only lowers a buyer’spurchasing power by about 4 per cent compared to theexisting regulation.Those measures, along with fading momentum after afrenetic pace of sales, mean home sales will likely slowtoward the second half of this year. However, evenfactoring in a second-half slowdown, provincial unitsales are still projected to reach a record 125,600 unitsin 2021. A slowdown in sales from the current frenziedpace will help supply catch up, though it will take asignificant period before markets return to balance.The supply shock experienced by BC markets duringthe initial phase of the COVID-19 pandemic and asustained listings drought continues to drive priceincreases in 2021. This is particularly true in smallermarkets, many of which have seen inventories ofhomes for sale fall to all-time lows.Those tight market conditions, paired with a shiftin the composition of sales toward single-detachedhomes, will translate to an outsized gain in theprovincial average price in 2021, which is forecastto rise 14.3 per cent to 893,800.INSIDEEconomic Outlook . 2Vancouver Island-Coast . 4Lower Mainland-Southwest . 6Thompson-Okanagan. 8Northern BC .10Kootenay . 12Tables .141
BCREA Housing ForecastMay 2021ECONOMIC OUTLOOKBC’s economic recovery from the COVID-19induced recession of 2020 is well underway andwe anticipate 2021 will record the highest growthin provincial real GDP since 1988. We forecastthe BC economy will expand by 5.5 per cent thisyear, followed by nearly 4 per cent growth in 2022.That elevated rate of growth will be fueled bypent-up consumer spending and aided by recordhousehold savings, as well as a recovering globaleconomy and strong non-residential investment.Growth in the BC economy bottomed out in theearly months of the COVID-19 pandemic beforea gradual recovery began to take hold. The BCeconomy has now posted five consecutive monthsof positive year-over-year real GDP growth asmeasured by our BCREA Nowcast and is set to takeoff in the coming months. Household consumptionof retail goods is already rising at a double-digitrate and with a strong progression of vaccinations,the service side of the economy should begin toreopen, bringing continued but more balancedgrowth in household consumption. Much of theincrease in pent-up spending is expected to bedriven by a record accumulation of householdsavings. Due to a generous fiscal response by thefederal and provincial governments, as well asa build-up of precautionary savings, Canadianssaved more in 2020 than in the previous six yearscombined. As that money begins to move out ofbank accounts and into the economy, we expectthat spending on retail goods, home renovations,vacations and recreational spending will benefit.22BC Economic Outlook1Real GDP GrowthEmployment ment Growth-6.5%5.8%3.0%Unemployment Rate9%7.2%5.5%Personal Disposable Income ( billions)192201210Personal Disposable Income Growth-4%5.0%4.5%Average Weekly Wage ( )1,0811,0901,117Weekly Wage Growth8.1%0.8%2.5%Retail Sales ( billions)8997.5102Retails Sales Growth2.6%10.0%5%1.80-2.991.80-2.302.30-2.6Average 5-year Fixed Mortgage Rate1. Values have been estimated where data has not yet been released.Source: BCREA Economics, Statistics CanadaMuch of that savings is already being funneled intothe red-hot BC housing market. Home sales acrossnearly all regions of the province are on a recordsetting pace. The impact of the pandemic is stillmotivating homebuyers toward increased space,and record-low interest rates are making the costof acquiring that space more affordable, thoughrapidly rising prices and extremely competitivemarkets are quickly eroding that affordability.Mortgage rates have moved modestly higher sincethe middle of February. Recognizing the muchbrighter economic outlook, we expect the Bank ofCanada will begin tapering its current purchases ofGovernment of Canada bonds but will stick to itscommitment to keep the policy rate on hold. Thiswill mean some additional upward pressure on
BCREA Housing ForecastCanadian mortgage rates over the next year.That should help moderate the rapid pace ofhome sales over the second half of this year andbring some balance to markets. The outsizedappreciation of home prices over the past yearshould continue to spur strong residentialconstruction, with housing starts continuing totrend near 40,000 units this year. That adds to analready large pipeline of units under construction,the timely completion of which is desperatelyneeded in supply-starved BC housing markets.May 2021While a BC economic recovery is well underwaythere continues to be an asymmetry in therecovery. This is especially true in the labourmarket. Although total BC employment hasessentially regained its pre-pandemic levelfollowing a historic decline, occupations thatpay a higher-than-average wage and that areless reliant on in-person transactions continueto grow, with employment in high-wage sectorsrising 10 per cent since the start of the pandemic.On the other hand, high-touch, front-line servicesector employment, particularly for lower-wageor younger workers, continues to struggle andwill only recover once the population hits herdimmunity with vaccinations. Fortunately, anincrease in the supply of vaccines has dramaticallyimproved vaccination timelines, and that recoveryis closer at hand than previously thought.Economic growth will be further propelled by theresumption of construction activity at BC’s largeLNG and pipeline projects. After being interruptedby the outbreak of the pandemic, those projects areonce again ramping up and could match investmentactivity that rivals 2019, a year that saw nonresidential investment in BC account for more thantwo-thirds of economic growth.As COVID-19 recoveries ramp up globally, demandfor BC exports is anticipated to be very strong in2021. That strength will be compounded by a surgein global commodity prices, especially lumber, aswell as an extraordinary fiscal stimulus injected intothe economy of our largest trading partner. Thepassing of the American Rescue Plan, a nearly 2trillion spending package, is expected to translate torapid economic growth in the United States, whichshould have at least some growth-boosting effectsfor the BC export market.13
BCREA Housing ForecastMay 2021VANCOUVER ISLAND-COAST(VANCOUVER ISLAND REAL ESTATE BOARD / VICTORIA REAL ESTATE BOARD / POWELL RIVER AND SUNSHINE COAST REAL ESTATE BOARD)Housing markets in the Vancouver Island-Coast Regionare experiencing a surge in home sales activity, as aresult of low mortgage rates, a recovering economyand an influx of homebuyers from other parts of theprovince. Altogether, those factors are driving MLS unit sales in the region to record-high territory.The recovery in the BC economy remains uneven,and sectors vital to the Island economy, such astourism, are not anticipated to fully recover forquite some time. However, we are optimistic thatas vaccinations reach important herd-immunitythresholds, spending in the service sector will seesignificant growth. This should help employmenton the Island, and especially in Victoria, regain andswiftly surpass its pre-pandemic level.While a recent uptick in mortgage rates and thespectre of government intervention may slow homesales in the second half of 2021, MLS unit sales inthe region are still forecast to finish the year at a newrecord high. Our forecast is for home sales in theVictoria board region to reach a record high of 10,500units. Likewise, home sales in the Vancouver Islandboard region are forecast to rise to a record high of11,500 units in 2021.The negative shock to the supply of homes for saleat the onset of the pandemic has led to a crisis inthe availability of listings in 2021 and nowhere is thiscrisis more severe than on Vancouver Island. The totalinventory of homes for sale was already low acrossthe region before the pandemic, and the situation hasonly become worse as demand for homes in marketsoutside of major metro areas has intensified, furtherdepleting inventory. As a result, active listings in theVancouver Island board area are lingering around1,500 listings or just over one month of supply at thecurrent pace of sales. In Victoria, listings have fallen totheir lowest point in five years.As a result, market conditions across the Island arehistorically tight, creating substantial pressure onhome prices. MLS average prices are sharply higherdue to buyers’ increased demand for space duringthe pandemic. This enhanced demand tends to skewaverage prices higher as more expensive homes area larger share of sales volume. Average home prices24are forecast to rise by 11.3 per cent in Victoria and17.1 per cent in the Vancouver Island board area in 2021.
BCREA Housing ForecastMay 2021Vancouver Island-CoastMLS Unit Sales2020%2021F%2022F%Victoria Real Estate Board8,06016.910,50030.38,300-21Single Detached4,24715.85,60031.84,400 -21.4Apartment2,4119.53,10028.62,600 -16.1Townhouse1,05327.51,50042.41,100 -26.6Vancouver Island Real Estate Board9,05520.111,500278,900 -22.6Single Detached5,67313.87,600346,000 -21.19844.61,40042.31,000 -28.61,1812.91,70043.91,300 -23.541629.657538.2400 -30.434440.440016.3300Condo18-103066.725 -16.7Single Family Mobile19-20.83057.925 -16.7ApartmentTownhousePowell River Sunshine Coast RealEstate BoardSingle DetachedMLS Average Price2020%2021F%-252022F%Victoria Real Estate Board 777,99313 866,20011.3 880,0001.6Single Detached 986,55714 1,110,00012.5 1,130,0001.8Apartment 480,4023.2 530,00010.3 538,0001.5Townhouse 613,6132.6 685,00011.6 697,0001.8Vancouver Island Real Estate Board 531,0868.6 622,00017.1 655,3005.4Single Detached 632,55512.1 770,00021.7 805,0004.5Apartment 301,3184.8 350,40016.3 360,0002.7Townhouse 411,8465.6 477,00015.8 494,0003.6 420,58615.8 490,00016.5 500,0002Single Detached 459,50114.2 550,00019.7 560,0001.8Condo 246,656-4.1 275,00011.5 280,0001.8Single Family Mobile 350,5973.2 360,0002.7 367,5002.1Housing Starts2020%2021F%2022F%Victoria CMA3,209-8.33,40066948.880015.3Powell River Sunshine Coast RealEstate BoardSingleMultiple2,880 .6Nanaimo CMA2,100 -19.215
BCREA Housing ForecastMay 2021LOWER MAINLAND-SOUTHWEST(REAL ESTATE BOARD OF GREATER VANCOUVER / FRASER VALLEY REAL ESTATE BOARD / CHILLIWACK AND DISTRICT REAL ESTATE BOARD)Housing markets in the Lower Mainland-Southwest regionof BC are experiencing record home sales, well surpassingthe heights of the 2016 housing boom.The recovery of the BC economy from the shock of theCOVID-19 pandemic is well underway and economic growthis set to accelerate in 2021. Employment in the region, whilenot yet fully recovered due to the struggles of the servicesector, has been growing, particularly in above-averagewage occupations that tend to support home ownership inlarger, more expensive markets like Metro Vancouver. Asvaccinations reach important herd-immunity thresholds, weexpect the economic recovery to become more widespread.Home sales were boosted through the fall of 2020 as 5-yearfixed mortgage rates reached new record lows. Whilemortgage rates have moved slightly higher, they are stillwell below pre-pandemic levels. Those low rates, alongwith a remarkable accumulation of household savingsand a pandemic-motivated shift toward a preference forincreased living space, have caused a surge of demandwithin Greater Vancouver and especially in areas like theFraser Valley where single-detached homes are moreavailable and affordable. MLS home sales across theLower Mainland are forecast to reach a new record in 2021.We forecast sales in the Greater Vancouver board area willreach a record 44,500 sales this year before moderatingto 36,000 home sales in 2022. Similarly, we expect to seea 27.2 per cent increase in the Fraser Valley board areain 2021 to a record high of 24,000 units. In the Chilliwackboard area, we forecast a record 5,300 MLS unit sales thisyear before sales return to a more historically normal levelof 3,800 unit sales in 2022.The negative supply shock at the onset of the pandemic hasled to a crisis in the availability of listings in 2021. While newlistings activity has recently increased considerably, the newadditions are only enough to keep up with current demand,leaving total active listings in record-low territory.The resulting imbalance means that home prices, especiallyfor single-detached homes, are under extraordinarypressure. As long as this imbalance remains, home pricesare going to be growing at an accelerated rate. We expectMLS average home prices will rise 10.1 per cent in GreaterVancouver in 2021, followed by 2.1 per cent in 2022. Asbuyers compete for space outside of Greater Vancouver,the Fraser Valley area will see a 17.4 per cent growth in26prices this year while in Chilliwack, where the supplydrought is particularly severe, average prices will close outthe year up 20 per cent.
BCREA Housing ForecastMay 2021Lower Mainland-SouthwestMLS Unit 9.1Single 30.36,300-21.2Fraser Valley Real Estate Board18,87128.524,00027.220,000-16.7Single ouse90030.11,30044.51,000-23.1Real Estate Board of Greater VancouverChilliwack and District Real Estate BoardSingle DetachedMLS Average PriceReal Estate Board of Greater Vancouver 2020%2021F%2022F%1,066,1998 1,174,30010.1 1,198,5002.116.7 1,980,00017 754,0004Single Detached 1,680,0006.3 1,960,000Apartment 677,5382.4 725,000Townhouse 914,5834.7 1,040,00013.7 1,080,0003.8Fraser Valley Real Estate Board 826,00514.4 969,40017.4 994,7002.6Single Detached 1,170,00010.4 1,441,00023.2 1,455,000Apartment 407,2804.1 464,00013.9 479,0003.2Townhouse 608,9355.4 719,00018.1 734,9002.2Chilliwack and District Real Estate Board 577,27910.3 692,90020 716,4003.41Single Detached 695,4237.3 872,00025.4 900,0003.2Apartment 280,9694.6 317,00012.8 326,0002.8Townhouse 462,8377.8 540,00016.7 560,0003.72020%2021F%2022F%Vancouver 90-15.7Housing StartsMultipleAbbotsford CMAChilliwack CA17
BCREA Housing ForecastMay 2021THOMPSON-OKANAGAN(ASSOCIATION OF INTERIOR REALTORS / KAMLOOPS & DISTRICT REAL ESTATE ASSOCIATION)Housing markets across the Thompson-Okanagan regionare seeing an unprecedented level of activity as theCOVID-19 pandemic accelerated retirement plans and maderemote working a long-term possibility. As retirees andyoung workers compete for limited space throughout theInterior, the resulting surge in demand has put significantpressure on the limited inventory of homes for sale in theregion, driving prices higher.Strong interprovincial migration paired with increasedmigration from the Lower Mainland will continue to propeldemand in the Thompson-Okanagan region over the nextyear. While the regional labour market has largely recoveredfrom the initial shock of COVID-19. Employment in theThompson-Okanagan is back to its pre-COVID-19 level, butthe region’s vital tourism sector will take longer to recover.However, with the provincial vaccination program rampingup considerably, the timeline for a return to normal isimproving. Those factors and continued low mortgage rateshave MLS unit sales on a record pace through the region sofar in 2021. Although we expect some moderation in salesto occur in the second half of the year, we are forecastingthat home sales will reach a record 15,000 units this yearin the Okanagan. Kamloops home sales are forecast toincrease by 28.1 per cent this year to a record 3,900 units.The extraordinary recovery in home sales activity in theThompson-Okanagan has not been met with a similarincrease in supply. The inventory of homes for salewas already low as the COVID-19 pandemic began, andthe resulting measures to mitigate the spread of thevirus prompted a further pull-back in listings activity.Consequently, as demand recovered, total active listingshave become severely depleted with record-low levelsacross the Okanagan and Kamloops. This scarcity meansthat MLS average prices have been rising considerablyas buyers enter the frenzied competition. These outsizedincreases in average prices have been skewed higher stillby a shift in buyers’ preferences toward extra space,meaning more expensive single-detached homes on largeproperties are a higher share of total sales. Even still, pricemeasures that adjust for sales composition, like the HPI forthe Okanagan Valley, are showing home prices rising15 per cent compared to last year.With the level of supply so low and home sales expected toremain at a record pace for the next several months, pricepressure across the Thompson-Okanagan region is unlikely28to be relieved anytime soon. We are forecasting the MLS average price will rise 15 per cent in the Okanagan and17.3 per cent in Kamloops in 2021.
BCREA Housing ForecastMay 2021Thompson-OkanaganMLS Unit Sales2020%2021F%2022F%Association of Interior REALTORS 111,37124.215,00031.911,500-23.3Single 61413.773018.8600-17.7Kamloops & District Real Estate Assoc.Single DetachedMLS Average Price2020Association of Interior REALTORS 1%2021F%2022F% 588,19516.1 676,60015 696,0002.9Single Detached 730,62916 865,00018.4 882,1002Apartment 340,5442.2 385,00013.1 393,9002.3Townhouse 516,0379.6 604,00017 623,7003.3 458,8279.6 538,10017.3 552,7002.7Single Detached 538,77810.8 646,00019.9 666,0003.1Apartment 273,8690 328,00019.8 337,0002.7Townhouse 472,51012.9 540,00014.3 558,0003.32021F%2022F%Kamloops & District Real Estate Assoc.Housing 507.7Multiple59739.5530-11.2400-24.5Kelowna CMASingleMultiplePenticton CMAKamloops CA1. The Okanagan Mainline Real Estate Board (OMREB) amalgamated with the South Okanagan Real Estate Board (SOREB) on January 1, 2021, toform the Association of Interior REALTORS .19
BCREA Housing ForecastMay 2021NORTHERN BC(BC NORTHERN REAL ESTATE BOARD / SOUTH PEACE RIVER REGION)BC’s economic recovery from the COVID-19-inducedrecession of 2020 is well underway, and economicgrowth in the province is expected to reach a 25-yearhigh of 5 per cent in 2021, followed by nearly 4 per centin 2022. That elevated rate of growth will be fueledby pent-up consumer spending and aided by recordhousehold savings, as well as a recovering globaleconomy and strong non-residential construction. Muchof the increase in non-residential construction is due toactivity occurring throughout Northern BC. An increasein spending and activity related to LNG projects andpipelines, along with strong commodity prices spurredby a recovery in global demand, is providing a boost toemployment growth and housing demand in the North.Employment in the Cariboo and North Coast regionshas already surpassed its pre-pandemic level, largelydriven by a recovery in commodity sectors, andespecially employment in the mining and oil and gassectors. Soaring global lumber prices have helped theforestry sector post a significant rebound. Employmentin that sector has recovered back to its highest pointsince mid-2019.Employment recovery, along with record-low mortgagerates, has produced a surge in home sales, with sales inthe first quarter of 2021 on a record pace. Total MLS unit sales in the region covered by the BC Northern RealEstate Board were up 83 per cent year-over-year in thefirst quarter and up 21 per cent from the fourth quarterof 2020 on a seasonally-adjusted basis. We expect 2021MLS sales to approach and likely surpass the region’sprevious annual record of 5,564 units set in 2006,ultimately rising 31.1 per cent this year to 5,600 units.Northern markets continue to be undersupplied interms of total active listings. The average level of activelistings finished the first quarter down 28 per cent yearover-year and fell 7 per cent on a seasonally-adjustedbasis from the end of 2020. With the supply of listingsnear record lows and sales at a record high, home pricescontinue to rise at an accelerated rate. As such, BCREAforecasts MLS average prices will rise by 17.8 per centin 2021 and 3.3 per cent in 2022.Markets in the South Peace Region of Northeast BCremain somewhat of an outlier in the province. Whilehome sales and prices in the majority of markets around210the province are setting new records, MLS homesales in that region have recovered, but only back tohistorically average levels.
BCREA Housing ForecastMay 2021Northern BCMLS Unit SalesBC Northern Real Estate BoardSingle DetachedSouth Peace River1Single DetachedMLS Average 0.736020295-182021F%2022F%2020% 332,8907.1 392,00017.8 405,0003.3 367,4035.4 420,60014.5 430,3002.3 258,122-0.1 291,00012.7 295,8001.6 291,4406.1 305,0004.7 3BC Northern Real Estate BoardSingle DetachedSouth Peace River1Single DetachedHousing StartsPrince George CMADawson Creek CMASingleMultiple1. The former Northern Lights Real Estate Board has been renamed the South Peace River Region of the Association of Interior REALTORS 111
BCREA Housing ForecastKOOTENAY(KOOTENAY ASSOCIATION OF REALTORS )Home sales in the Kootenay region have surgedthrough 2021 to about 70 per cent above their prepandemic trend. Home sales in the region are ona record-setting pace in the first quarter, but whiledemand is unprecedented, the supply of listingsin the Kootenay region has fallen to a record low.Active listings fell by 44 per cent year-over-year inMarch to under 1,000 total active listings for theentire Kootenay area.The severe imbalance of supply and demand willtake quite some time to return to normal. As theBC economy recovers and the provincial vaccinationprogram continues to gain momentum, demandwill remain strong. Employment in the Kootenayhas regained its Pre-COVID-19 level and theunemployment rate in the region has returned tonormal following a pandemic-induced spike to above15 per cent last summer.While rising mortgage rates and slightly morestringent mortgage stress test rules may slowhome sales over the second half of 2021, thepace of home sales over the first half of the yearhave the Kootenay region on track to surpass therecord level of home sales set just last year. Weforecast that home sales will rise in the Kootenayregion by 23.6 per cent this year to 4,300 unitsbefore moderating to a strong but more historicallynormal level of 3,200 unit sales in 2022.New home construction in the region has beenvery strong, particularly in the multiple-unit sectorin Cranbrook, however, homes currently underconstruction will buffer only a small portion ofthe steep fall in supply. As such, prices across theKootenay are expected to feel significant upwardpressure over the next two years. We forecast MLS average prices will rise by 19.7 per cent in 2021 to 459,700 and increase a further 4.3 per cent in2022 to 479,400.212May 2021
BCREA Housing ForecastMay 2021KootenayMLS Unit Sales2020%Kootenay Association of REALTORS3,48017.44,30023.63,200-25.6Single F% MLS Average Price20202021F%%2021F%2022F%Kootenay Association of REALTORS 383,92411.3 459,70019.7 479,4004.3Single Detached 430,29310.6 517,00020.2 540,0004.4Apartment 189,685-0.1 220,00016 234,0006.4Townhouse 313,5726.2 354,00012.9 365,0003.12020%2021F%2022F% Housing StartsCranbrook 5247268.740-83.825-37.5Multiple113
BCREA Housing ForecastBC Housing OutlookMay 01021.5125,60033.6100,150-20.3 711,3790.4 700,378-1.5 781,76511.6 893,80014.3 921,8003.1MLS Dollar Volume ( billions)% change 55.86-24.2 54.17-3 73.4935.7 112.2652.7 92.32-17.8Housing Starts% 2.8Single% 0Multiple% 0-16.5Total Net Migration% 0070Net International Migration% 0100Net Interprovincial Migration% 0000Range of Posted 5-year Fixed Mortgage 6BC Economic Outlook12018201920202021F2022FReal GDP Growth (%)2.7%2.7%-3.8%5.5%4%Employment (millions)2.592.672.492.642.72Employment Growth (%)1.4%2.9%-6.5%5.8%3%Unemployment Rate (%)4.8%4.7%9%7.2%5.5%Personal Disposable Income ( billions)190200192201210.4Personal Disposable Income Growth (%)2.9%5%-4%5%4.5%Average Weekly Wage9741,0001,0811,0901,117Weekly Wage Growth (%)3.9%2.7%8.1%0.8%2.5%Retail Sales ( billions)85.986.488.797.5102.4Retails Sales Growth (%)1.9%0.6%2.6%10%5%MLS Unit Sales% changeMLS Average Price% changeSources: BCREA Economics, Statistics Canada2141. Values have been estimated where data has not yet been released.
BCREA Housing ForecastMay 2021Housing Forecast Summary – Second QuarterUnit 8017.4%4,2734.1%94,01321.5%Board AreaVictoriaVancouver IslandPowell River Sunshine CoastGreater VancouverFraser ValleyChilliwack and DistrictKamloops and DistrictInterior*South Peace River**KootenayBC NorthernBC TotalAverage MLS Price ( 1.6%479,4004.3%405,0003.3%921,8003.1%*NOTE: The Okanagan Mainline Real Estate Board (OMREB) amalgamated with the South Okanagan Real Estate Board (SOREB) on January 1, 2021,to form the Association of Interior REALTORS .**The former Northern Lights Board, which was merged with SOREB in 2011, will now be called the South Peace River Region and is part of the newAssociation of Interior REALTORS .BCREA Economics provides timely research, analysis and information on economic factors affecting British Columbia and its housing markets.Send questions and comments about the Housing Forecast to:The British Columbia Real Estate Association (BCREA)is the professional association for more than 23,000REALTORS in BC, focusing on provincial issues thatimpact real estate. Working with the province’s ten realestate boards, BCREA offers continuing professionaleducation, advocacy, economic research and standardforms to help REALTORS provide value for their clients.Brendon Ogmundson, Chief Economist,bogmundson@bcrea.bc.ca; 604.742.2796Additional economics information is available onBCREA’s website at: www. bcrea.bc.ca.To demonstrate the profession’s commitmentto improving Quality of Life in BC communities,BCREA supports policies that help ensure economicvitality, provide housing opportunities, preserve theenvironment, protect property owners and buildbetter communities with good schools and safeneighbourhoods.To sign up for BCREA news releases by email visit:www.bcrea.bc.ca/
sales in the second half of 2021, MLS unit sales in the region are still forecast to finish the year at a new record high. Our forecast is for home sales in the Victoria board region to reach a record high of 10,500 units. Likewise, home sales in the Vancouver Island board region are forecast
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Blue Apron Holdings, Inc. Reports Second Quarter 2021 Results Key Highlights: Second quarter 2021 net revenue of 124.0 million was in-line with the company's guidance.(1) Second quarter 2021 net loss was 18.6 million, inclusive of a non-cash charge of approximately 4.1 million, related to the May 2021 amendment to the company's
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Westlake Chemical Corporation Second Quarter 2021 Financial Highlights (1) Reconciliations of EBITDA, Vinyls EBITDA, Olefins EBITDA and Corporate EBITDA to the applicable GAAP measures can be found on pages 10 and 11 Second Quarter 2021 vs. FirstQuarter 2021
FELTHAM, England - August 5, 2021 - Nomad Foods Limited (NYSE: NOMD), today reported financial results for the three and six month period ended June 30, 2021. Key operating highlights and financial performance for the second quarter 2021, when compared to the second quarter 2020, include: Reported revenue decreased 1% to 596 million
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