BCREA Urges Proactive Steps for a Resilient Housing Market

British Columbia's housing market faces a 30-year high in unsold new-home inventory, especially apartments, due to weak pre-sales and project delays. This mirrors post-2008 trends, risking future undersupply and a potential 27% rise in inflation-adjusted home prices by 2032. To improve affordability, policies should boost demand—such as expanding GST exemptions—and support supply by reducing development costs and enabling tax-advantaged municipal bonds.