“BC home sales climbed higher for the first time in 18 months on a year-over-year basis in July,” said BCREA Chief Economist Cameron Muir. Housing demand has also trended higher since March, rising 21 per cent on a seasonally adjusted basis. “Households appear to be adjusting to the tighter credit environment as the shock of the B20 stress test dissipates.”
MLS® residential active listings in the province trended lower in July, down 3 per cent from June and 6 per cent from April on a seasonally adjusted basis. Active listings were up 12.4 per cent to 41,621 units on a year-over year basis, while overall market conditions remained unchanged from 12 months ago with the sales-to-active listings ratio at 19.1 per cent. Year-to-date, BC residential sales dollar volume was down 18.9 per cent to $30 billion, compared with the same period in 2018. Residential unit sales decreased 14.4 per cent to 43,612 units, while the average MLS® residential price was down 5.3 per cent to $687,413.
My business grows by building strong client-focused relationships. I would welcome the opportunity to answer any questions about the real estate market that you may have.
If you would like to find out how much your home is worth in today's market, to discuss listing your home or buying a new home, please contact me on (604) 781-5692 or via email - tim@timwray.ca
If you would like to find out how much your home is worth in today's market, to discuss listing your home or buying a new home, please contact me on (604) 781-5692 or via email - tim@timwray.ca