{"id":10371,"date":"2018-09-13T08:08:26","date_gmt":"2018-09-13T15:08:26","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=10371"},"modified":"2018-09-13T07:59:35","modified_gmt":"2018-09-13T14:59:35","slug":"bcrea-august-home-sales-suggest-impact-of-stress-test-fading","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/09\/bcrea-august-home-sales-suggest-impact-of-stress-test-fading\/","title":{"rendered":"BCREA August Home Sales Suggest Impact of Stress Test Fading"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver, BC \u2013 September 13, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 6,743 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) across the province in August, a 26.4% decrease from the same month last year. The average MLS\u00ae residential price in BC was $669,776, down 1.2% from August 2017. Total sales dollar volume was $4.5 billion, a 27.3% decline from August 2017.<\/p>\n<p style=\"text-align: justify;\">\u201cThe downturn in housing demand induced by the mortgage stress-test is now largely behind us,\u201d said Cameron Muir, BCREA Chief Economist. \u201cThe BC housing market is evolving along the same path blazed by Ontario and Alberta, where the initial shock of the mortgage stress-test is already dissipating, leading to increasing home sales.\u201d<\/p>\n<p style=\"text-align: justify;\">Year-to-date, BC residential sales dollar volume was down 19.9% to $41 billion, compared with the same period in 2017. Residential unit sales decreased 21.3% to 57,674 units, while the average MLS\u00ae residential price was up 1.7% to $719,064.<\/p>\n<p>\u00a0\u00a0\u00a0\u00a0 <a href=\"https:\/\/www.roryc.ca\/blog\/?attachment_id=10372\" rel=\"attachment wp-att-10372\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-10372\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/09\/BCREA-288x162.gif\" alt=\"\" width=\"558\" height=\"314\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/09\/BCREA-288x162.gif 288w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/09\/BCREA-768x432.gif 768w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/09\/BCREA-420x236.gif 420w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/09\/BCREA-310x174.gif 310w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/09\/BCREA-630x354.gif 630w\" sizes=\"auto, (max-width: 558px) 100vw, 558px\" \/><\/a><\/p>\n<p><a href=\"http:\/\/www.bcrea.bc.ca\/docs\/news-2018\/2018-08.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 September 13, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 6,743 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/09\/bcrea-august-home-sales-suggest-impact-of-stress-test-fading\/\">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-10371","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BCREA August Home Sales Suggest Impact of Stress Test Fading &#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\/09\/bcrea-august-home-sales-suggest-impact-of-stress-test-fading\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BCREA August Home Sales Suggest Impact of Stress Test Fading &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Vancouver, BC \u2013 September 13, 2018. 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