skip to Main Content

Home sales down in B.C. on annual basis, up nationwide

By Joannah Connolly for Vancouver Courier

After a brief flurry of activity in May, home sales in B.C. in June saw a typical early summer decline, according to statistics released July 14 by the British Columbia Real Estate Association (BCREA).

The BCREA reported that 6,960 residential unit sales were recorded by the province’s Multiple Listing Service (MLS) in June, a drop of 15.3 per cent from May’s 8,221 sales.

It’s also a decline of 11.8 per cent compared with the same month last year, according to the association.

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:

BCREA hinted that sales could have been higher if the qualifying interest rate for borrowers was less onerous and had eased in line with declining mortgage rates (see graph below). “B.C. home sales moderated lower in June after a stronger showing in May,” said Brendon Ogmundson, BCREA’s deputy chief economist. “While mortgage rates offered by lenders have moved below three per cent, a static qualifying rate has limited the impact of the lower cost of borrowing.” The comment follows BCREA’s study findings issued July 10, which reported that sales in 2018 would have been 10 per cent higher without the mortgage stress test.

Continue reading the full story here >>
 

This Post Has One Comment
  1. Nature’s Grand is one of the most exclusive new communities that only comes around very, very rarely in one’s lifetime. Located in an idyllic natural setting on a bluff adjacent to the Grand River, there is no finer place for the nature-loving family to call home. Set just south of Hardy Rd., Nature’s Grand will feature beautiful Towns, Semis, and Singles that are sure to appeal to those with active lifestyles

    This picture-perfect area is surrounded by captivating scenery everywhere you turn. From the stunning sights of the Grand River and nearby walking paths like SC Johnson Trail, to amazing shops and dining options, countless amenities are just minutes from this new community. You will also have the added convenience of living close to Highway 403, making your daily commute quick and easy.

    For more Info please visit: https://www.brantfordnewhome.ca/

Leave a Reply

Your email address will not be published.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

As Seen and Heard On

Media enquiries and press contact info: media@vancouverrealestatepodcast.com

© 2019 Matt Scalena PREC* & Adam Scalena PREC* , all rights reserved • Site MapBy Line49 Web Design, Vancouver BC

*Considering a real estate transaction? One of the first decisions you will need to make is whether you should work with a licensed real estate professional who will represent you. Take a moment to read this important consumer protection information from the Real Estate Council of BC. This form explains the special legal duties that real estate professionals owe to their clients. CLICK HERE and please call 778-847-2854 or 778-866-4574 immediately if you would like to discuss.

Back To Top