Canada Mortgage and Housing Corporation is predicting home prices and sales will fall from last year's levels by December.
But the federal housing agency says the declines won't blunt much of the market's heat.
Chief economist Bob Duggan says home ownership will be less affordable in the near-term because of higher mortgage rates and high price levels.
He also expects rental affordability will likely decline as well.
Winter storm watches have been issued for parts of Fraser Canyon, Fraser Valley, Nicola region, the Okanagan Valley, Similkameen and South Thompson areas. The weather office says the storm is expected to bring up to 20 centimetres of snow.
The announcement comes after Premier David Eby and Mitzi Dean, minister of children and family development, met with members of the group AutismBC and other stakeholders, including the First Nations Leadership Council and B.C.’s representative for children and youth.
Workers applying for EI will be eligible for the more-generous benefits starting on Dec. 18, with advocates praising the move but urging the government to make good on its promise for a much bigger overhaul of the system. Qualtrough made the announcement while visiting the Canadian Cancer Society's regional care centre in Vancouver.
Dr. Theresa Tam, Canada's chief public health officer, said that COVID-19, RSV and influenza are continuing to co-circulate at high levels. While RSV activity seems to have levelled off, Tam said she expects it to remain elevated for weeks to come.
Finance Minister Selina Robinson says much of the added surplus comes from higher personal and corporate income taxes, while sales taxes and natural gas royalties were also higher. Robinson says $2 billion of the added revenue has already been earmarked for cost-of-living measures announced since the summer.
Cpl. Alex Berube says in a statement they have learned that the plane was transporting two passengers out of a logging camp back to Port Hardy. Coast guard helicopters and boats were sent to the search area but no survivors have been found.