{"id":10084,"date":"2018-08-13T08:08:37","date_gmt":"2018-08-13T15:08:37","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=10084"},"modified":"2018-08-13T08:32:18","modified_gmt":"2018-08-13T15:32:18","slug":"bcrea-summer-home-sales-slow-to-a-simmer","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/08\/bcrea-summer-home-sales-slow-to-a-simmer\/","title":{"rendered":"BCREA Summer Home Sales Slow to A Simmer"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver, BC \u2013 August 13, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 7,055 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) across the province in July, a 23.9% decrease from the same month last year. The average MLS\u00ae residential price in BC was $695,990, down 0.4% from July 2017. Total sales dollar volume was $4.9 billion, a 24.2% decline from July 2017.<\/p>\n<p style=\"text-align: justify;\">\u201cThe BC housing market continues to grapple with the sharp decline in affordability caused by tough new mortgage qualification rules,\u201d said Cameron Muir, BCREA Chief Economist. \u201cHowever, less frenetic housing demand has created more balanced market conditions in many regions, leading to fewer multiple offers and more choice for consumers.\u201d<\/p>\n<p style=\"text-align: justify;\">Year-to-date, BC residential sales dollar volume was down 18.9% to $37 billion, compared with the same period in 2017. Residential unit sales decreased 20.6% to 50,926 units, while the average MLS\u00ae residential price was up 2.1% to $725,639.<\/p>\n<p>\u00a0\u00a0\u00a0\u00a0 <a href=\"https:\/\/www.roryc.ca\/blog\/2018\/08\/bcrea-summer-home-sales-slow-to-a-simmer\/bcrea-36\/\" rel=\"attachment wp-att-10085\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-10085\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/08\/BCREA-288x162.gif\" alt=\"\" width=\"550\" height=\"309\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/08\/BCREA-288x162.gif 288w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/08\/BCREA-768x432.gif 768w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/08\/BCREA-420x236.gif 420w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/08\/BCREA-310x174.gif 310w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/08\/BCREA-630x354.gif 630w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><\/p>\n<p><a href=\"http:\/\/www.bcrea.bc.ca\/docs\/news-2018\/2018-07.pdf\" target=\"_blank\" rel=\"noopener\">Click here<\/a> for the complete news release, including detailed statistics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver, BC \u2013 August 13, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 7,055 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/08\/bcrea-summer-home-sales-slow-to-a-simmer\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-10084","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BCREA Summer Home Sales Slow to A Simmer &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2018\/08\/bcrea-summer-home-sales-slow-to-a-simmer\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BCREA Summer Home Sales Slow to A Simmer &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Vancouver, BC \u2013 August 13, 2018. 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