Today March 17, 2021 we had the privilege of Ozzie Jurock joining us for a zoom market update meeting.

As always Ozzie is very entertaining and extremely informative concering global market real estate and financial market updates.

Last year Canada was in 5th place and this year is now in 3rd place with USA as number # 1 and Germany #2

for the most stable and secure in the world.

House prices in Canada up 17%

• 2020 was the busiest year ever, even though a pandemic led to a record high unemployment
• December sales were up 47% Compared with December 2019, the largest year-over- year gain in monthly sales in 11 year
• Fewer than 100,000 homes listed for sale to start 2021.
• 5 Yrs ago, there were about 250,000 listings, the lowest level in 30 yrs!
• 30 Yrs ago we had half the population we do now.
• Detached homes lead the way, especially in areas outside of urban cores.

HPI Benchmark prices for January 2021 from CREA

B.C         2021   $843,839     2020  $728,269     UP 16%

Canada  2021    $624,525     2020  $506,306     UP 23%

FEBRUARY 2021 IN BC

• A  Total of 10,918 residential units for sale in February which is an increase of 89.1 % over February 2020 and over a thousand sales higher than the previous February record set in 2016
• The average price ws $889,584 A 17.3 % increase from $758,382 recorded in February 2020
• The total active residential listings were down 28.7% TO 20,185 units in February, the lowest level of provincial active listings on record going back to 2000.

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