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Identifying Different Property Interests in British Columbia #584

Property ownership in BC can take many different forms. In this article, we examine REALTORS®' role in correctly representing them.

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Jun 14, 2019

BC Home Sales on the Rise in May

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Jun 14, 2019

BC Home Sales on the Rise in May

Author profile photo
By Cameron Muir,
Author profile photo
By Cameron Muir,

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

Vancouver, BC – June 14, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 8,221 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in May, a decline of 7 per cent from the same month last year. The average MLS® residential price in the province was $707,829, a decline of 4.3 per cent from May 2018. Total sales dollar volume was $5.8 billion, an 11 per cent decline from the same month last year.

“BC home sales increased 9 per cent in May compared to April, on a seasonally adjusted basis,” said BCREA Chief Economist Cameron Muir. “However, consumers continue to struggle with the negative shock to affordability that stringent mortgage lending policies have created.”

Total MLS® residential active listings were up 23.2 per cent to 41,519 units compared to the same month last year. However, total active listings were down 2 per cent from April, on a seasonally adjusted basis, the first monthly decline since the B20 Stress test was introduced in January 2018.

Year-to-date, BC residential sales dollar volume was down 25.1 per cent to $19.8 billion, compared with the same period in 2018. Residential unit sales decreased 20.2 per cent to 28,711 units, while the average MLS® residential price was down 6.2 per cent to $688,339.

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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.

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By Cameron Muir,
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