{"id":11444,"date":"2019-01-15T08:55:05","date_gmt":"2019-01-15T16:55:05","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=11444"},"modified":"2019-01-15T07:59:16","modified_gmt":"2019-01-15T15:59:16","slug":"bcrea-home-sales-decline-25-in-2018","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/01\/bcrea-home-sales-decline-25-in-2018\/","title":{"rendered":"BCREA Home Sales Decline 25% in 2018"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver, BC \u2013 January 15, 2019. TThe British Columbia Real Estate Association (BCREA) reports that a total of 78,345 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) in 2018, a decline of 24.5% from the 103,758 units sold in 2017. The annual average MLS\u00ae residential price in BC was $712,508, an increase of 0.4% from $709,601 recorded the previous year. Total sales dollar volume was $55.8 billion, a 24.2% decline from 2017.<\/p>\n<p style=\"text-align: justify;\">\u201cBC home sales fell below the 10-year average of 84,800 units in 2018,\u201d said Cameron Muir, BCREA Chief Economist. \u201cThe sharp decline in affordability caused by the B20 mortgage stress test is largely to blame for decline in consumer demand last year.\u201d<\/p>\n<p style=\"text-align: justify;\">A total of 3,497 MLS\u00ae residential unit sales were recorded across the province in December, down 39.1% from December 2017. The average MLS\u00ae residential price in BC was $695,647, a decline of 5.2% from December 2017. Total sales dollar volume was $2.4 billion, a 42.3% decline during the same period.<\/p>\n<p style=\"text-align: justify;\">Total active residential listings were up 33.3% to 27,615 units in December, the highest December inventory since 2014 when 33,995 active residential listings were recorded.<\/p>\n<p>\u00a0\u00a0\u00a0\u00a0<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/01\/bcrea-home-sales-decline-25-in-2018\/bcrea-44\/\" rel=\"attachment wp-att-11445\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-11445\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/01\/BCREA-288x162.gif\" alt=\"\" width=\"585\" height=\"329\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/01\/BCREA-288x162.gif 288w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/01\/BCREA-768x432.gif 768w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/01\/BCREA-420x236.gif 420w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/01\/BCREA-310x174.gif 310w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/01\/BCREA-630x354.gif 630w\" sizes=\"auto, (max-width: 585px) 100vw, 585px\" \/><\/a><\/p>\n<p style=\"text-align: justify;\"><a href=\"http:\/\/www.bcrea.bc.ca\/docs\/news-2018\/2018-12.pdf\">Click here<\/a> for the complete news release, including detailed statistics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver, BC \u2013 January 15, 2019. TThe British Columbia Real Estate Association (BCREA) reports that a total of 78,345 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/01\/bcrea-home-sales-decline-25-in-2018\/\">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-11444","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BCREA Home Sales Decline 25% in 2018 &#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\/2019\/01\/bcrea-home-sales-decline-25-in-2018\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BCREA Home Sales Decline 25% in 2018 &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Vancouver, BC \u2013 January 15, 2019. 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