BC Home Sales Continue at Slower Pace in September

Oct 11, 2018

CATEGORY:   
TAGS:   
Posted by
Cameron Muir

PRINT


For the complete news release, including detailed statistics, click here.

Vancouver, BC – October 11, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 5,573 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in September, a 33.2 per cent decrease from the same month last year. The average MLS® residential price in BC was $685,749, down 1.1 per cent from September 2017. Total sales dollar volume was $3.8 billion, a 34 per cent decline from September 2017.

chart“BC home sales continue at a slower pace compared to last year,” said Cameron Muir, BCREA Chief Economist. “The impact on affordability and purchasing power caused by the mortgage stress test and moderately higher interest rates are negating the effect of the extraordinarily strong performance of BC’s economy over the last five years.”

Year-to-date, BC residential sales dollar volume was down 21.3 per cent to $45 billion, compared with the same period in 2017. Residential unit sales decreased 22.5 per cent to 63,251 units, while the average MLS® residential price was up 1.5 per cent to $716,096.

-30-

For more information, please contact:
Cameron Muir
Chief Economist
Direct: 604.742.2780
Mobile: 778.229.1884
Email: [email protected]

To subscribe to receive BCREA publications such as this one, or to update your email address or current subscriptions, click here.

What we do



Popular tags within Economics



Popular posts from BCREA

  • New Statutory Holiday on September 30, National Day for Truth and Reconciliation
    Sep 09, 2021
  • Applications for BC Emergency Benefit for Workers Now Open
    May 01, 2020