skip to Main Content

Greater Vancouver home sales continue to fall in July: BCREA

By mma Crawford Hampel for Business in Vancouver

Total home sales fell 30% year-over-year in July after seen an almost 38% the previous month, according to British Columbia Real Estate Association data released August 13.

A total of 2,108 units changed hands in the month, compared with 3,012 in July 2017. Year-to-date, unit sales fell 16.1%, from 22,653 to 16,734.

Across the province, home sales fell 23.9% in July, from 9,276 last year to 7,055. Year-to-date, unit sales fell2.1% to 725,639 units.

Vancouver Real Estate News, Market Updates, Insider Tips, Stats, & Analysis

Sign up for insider real estate news & tips from our podcasting team.

Are you a realtor? Click here
Selling Your Home? Click here

  • Reload
  • Should be Empty:

“The B.C. housing market continues to grapple with the sharp decline in affordability caused by tough new mortgage qualification rules,” said BCREA chief economist Cameron Muir.

“However, less frenetic housing demand has created more balanced market conditions in many regions, leading to fewer multiple offers and more choice for consumers.”

The average home sale price dipped 0.5% year-over-year in Greater Vancouver, to $1,024,282. Across B.C., the average sale price was $695,990 – a decrease of 0.4% over the same period.

Continue reading the full story here >>

This Post Has 0 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Back To Top