{"id":11707,"date":"2019-02-20T08:08:10","date_gmt":"2019-02-20T16:08:10","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=11707"},"modified":"2019-02-19T17:47:33","modified_gmt":"2019-02-20T01:47:33","slug":"bcrea-policy-induced-housing-slowdown-continues-into-2019","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/02\/bcrea-policy-induced-housing-slowdown-continues-into-2019\/","title":{"rendered":"BCREA Policy-Induced Housing Slowdown Continues into 2019"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver, BC \u2013 February 15, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 3,546 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) in January, a decline of 33.2% from the same month last year. The average MLS\u00ae residential price in the province was $665,590, a decline of 7.7% from January 2018. Total sales dollar volume was $2.36 billion, a 38.4% decline from the same month last year.<\/p>\n<p>\u201cBC households continue to grapple with the policyinduced affordability shock created last year by the federal government,\u201d said Cameron Muir, BCREA Chief Economist. \u201cThe resulting pullback in consumer demand is largely responsible for January\u2019s lacklustre performance.\u201d<\/p>\n<p style=\"text-align: justify;\">Total MLS\u00ae residential active listings increased 41.2% to 29,522 units compared to the same month last year. The ratio of sales to active residential listings declined from 25.4% to 12% over the same period.<\/p>\n<p style=\"text-align: justify;\">\u201cMany BC regions are now exhibiting buyer\u2019s market conditions,\u201d added Muir. \u201cHowever, BC Northern, the Kootenay, Okanagan Mainline and the Vancouver Island markets continue to reflect balance between supply and demand.\u201d<\/p>\n<p>\u00a0\u00a0\u00a0\u00a0<a href=\"https:\/\/www.roryc.ca\/blog\/?attachment_id=11708\" rel=\"attachment wp-att-11708\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-11708\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/02\/BCREA-288x170.jpg\" alt=\"\" width=\"577\" height=\"340\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/02\/BCREA-288x170.jpg 288w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/02\/BCREA.jpg 688w\" sizes=\"auto, (max-width: 577px) 100vw, 577px\" \/><\/a><\/p>\n<p style=\"text-align: justify;\"><a href=\"http:\/\/www.bcrea.bc.ca\/docs\/news-2019\/2019-01.pdf\">Click here<\/a> for the complete news release, including detailed statistics.<\/p>\n<p style=\"text-align: justify;\"><a href=\"http:\/\/www.bcrea.bc.ca\/news-and-publications\/news-room\/news-releases\/2019-01-statistical-release\">Policy-Induced Housing Slowdown Continues into 2019 by BCREA<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver, BC \u2013 February 15, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 3,546 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/02\/bcrea-policy-induced-housing-slowdown-continues-into-2019\/\">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-11707","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 Policy-Induced Housing Slowdown Continues into 2019 &#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\/02\/bcrea-policy-induced-housing-slowdown-continues-into-2019\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BCREA Policy-Induced Housing Slowdown Continues into 2019 &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Vancouver, BC \u2013 February 15, 2019. 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