{"id":12580,"date":"2019-05-14T08:55:30","date_gmt":"2019-05-14T15:55:30","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=12580"},"modified":"2019-05-14T09:06:32","modified_gmt":"2019-05-14T16:06:32","slug":"bcrea-affordability-continues-to-weigh-on-housing-demand","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/05\/bcrea-affordability-continues-to-weigh-on-housing-demand\/","title":{"rendered":"BCREA Affordability Continues to Weigh on Housing Demand"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver, BC \u2013 May 14, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 6,652 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) in April, a decline of 18.9% from the same month last year. The average MLS\u00ae residential price in the province was $685,304, a decline of 6.2% from April 2018. Total sales dollar volume was $4.6 billion, a 23.9% decline from the same month last year.<\/p>\n<p style=\"text-align: justify;\">\u201cBC home sales were essentially unchanged from March on a seasonally adjusted basis,\u201d said BCREA Chief Economist Cameron Muir. \u201cProspective home buyers continue to grapple with the decline in their purchasing power caused by federal government changes to mortgage policy.\u201d<\/p>\n<p style=\"text-align: justify;\">Total MLS\u00ae residential active listings increased 33.6% to 38,672 units compared to the same month last year. The ratio of sales to active residential listings declined from 28.4% to 17.2% over the same period.<\/p>\n<p style=\"text-align: justify;\">Year-to-date, BC residential sales dollar volume was down 29.8% to $13.9 billion, compared with the same period in 2018. Residential unit sales decreased 24.5% to 20,479 units, while the average MLS\u00ae residential price was down 7% to $680,671.<\/p>\n<p>\u00a0\u00a0\u00a0 <a href=\"https:\/\/www.roryc.ca\/blog\/2019\/05\/bcrea-affordability-continues-to-weigh-on-housing-demand\/bcrea-50\/\" rel=\"attachment wp-att-12581\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-12581\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/05\/BCREA-288x162.gif\" alt=\"\" width=\"599\" height=\"337\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/05\/BCREA-288x162.gif 288w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/05\/BCREA-768x432.gif 768w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/05\/BCREA-420x236.gif 420w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/05\/BCREA-310x174.gif 310w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/05\/BCREA-630x354.gif 630w\" sizes=\"auto, (max-width: 599px) 100vw, 599px\" \/><\/a><\/p>\n<p style=\"text-align: justify;\"><a href=\"http:\/\/www.bcrea.bc.ca\/docs\/news-2019\/2019-04.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Click here<\/a> for the complete news release, including detailed statistics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver, BC \u2013 May 14, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 6,652 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/05\/bcrea-affordability-continues-to-weigh-on-housing-demand\/\">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-12580","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 Affordability Continues to Weigh on Housing Demand &#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\/05\/bcrea-affordability-continues-to-weigh-on-housing-demand\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BCREA Affordability Continues to Weigh on Housing Demand &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Vancouver, BC \u2013 May 14, 2019. 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