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B.C. housing market to weather storm of potential rate hikes: industry association

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Province’s housing market ‘more resilient than expected.'

B.C.’s housing market is projected to remain resilient throughout the rest of 2023 despite the impact of previous and potential interest rate hikes.

Residential sales in 2024 are anticipated to rise 6.1 per cent to 83,425 units across the province, according to the BCREA. The Bank of Canada has hiked interest rates 10 times since March 2022 in a bid to tamp down on inflation.

 

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