Home sales rose for the third consecutive month in April according to the British Columbia Real Estate Association. This recent surge in real estate sales activity has made the Canadian Real Estate Association (CREA) to revise its expectations for price drops in BC housing Markets. Lower home prices and record low mortgage interest rates are the primary reasons, the British Columbia Real Estate association said in its news release. The inventory of unsold homes across the province dropped to the lowest level in 12 months. 
Scotia Economics however has a different opinion. While BC real estate sales have lifted from lows of last fall, market oversupply and deteriorating economic conditions will still put pressure on prices to fall according to Scotia Economics report. The report said a rise in demand and drop in new listings has resulted in the housing market moving closer to being “balanced.”
One thing everyone seems to agree upon is that Bc houing market is showing sign of upward trend, at least for now.
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