According to Central 1 Economics, the housing market in British Columbia is expected to experience a rebound starting in 2024, following the Bank of Canada's recent interest rate hikes. Home sales volumes are predicted to decrease by 5% in 2023, but increase by 12% in 2024 and 14% in 2025. The average home price is expected to decrease to $970,000 in 2023, but is forecasted to surpass the $1 million mark in 2024 and 2025. Demand for housing is expected to remain strong, driven by population growth and high levels of international immigration. Despite an increase in multi-family unit construction, limited supply is driving
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