{"id":12950,"date":"2019-07-02T10:10:27","date_gmt":"2019-07-02T17:10:27","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=12950"},"modified":"2019-06-18T11:00:54","modified_gmt":"2019-06-18T18:00:54","slug":"bcrea-home-sales-see-slight-uptick-still-down-y-y","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/07\/bcrea-home-sales-see-slight-uptick-still-down-y-y\/","title":{"rendered":"BCREA\u00a0Home Sales See Slight Uptick, Still Down Y\/Y"},"content":{"rendered":"<p style=\"text-align: justify;\">A total of 8,221 homes were sold on the British Columbia Multiple Listing Service in May, which is a drop of 7% from the same month last year, according to the latest BC Real Estate Association monthly figures.<\/p>\n<p style=\"text-align: justify;\">However, that total is a month-over-month increase of 9% from April\u2019s sales \u2013 and, in terms of the annual drop in transactions, a significant improvement over March\u2019s 27% and April\u2019s 19% annual decline.<\/p>\n<p style=\"text-align: justify;\">The average resale residential price in the province was $707,829, a drop of 4.3% from May 2018.<\/p>\n<p style=\"text-align: justify;\">\u201cBC home sales increased nine per cent in May compared with April, on a seasonally adjusted basis,\u201d said Cameron Muir, BCREA\u2019s chief economist. \u201cHowever, consumers continue to struggle with the negative shock to affordability that stringent mortgage lending policies have created.\u201d<br \/>\n<a href=\"https:\/\/www.roryc.ca\/blog\/?attachment_id=12951\" rel=\"attachment wp-att-12951\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-12951\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/06\/BCREA-288x158.jpg\" alt=\"\" width=\"605\" height=\"332\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/06\/BCREA-288x158.jpg 288w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/06\/BCREA.jpg 750w\" sizes=\"auto, (max-width: 605px) 100vw, 605px\" \/><\/a><br \/>\nThere were 41,519 active residential listings on BC\u2019s MLS as of the end of June, up 23.2% year over year. However, total active listings were down two per cent from April, on a seasonally adjusted basis, which the BCREA said was \u201cthe first monthly decline since the B20 Stress test was introduced in January 2018.\u201d<\/p>\n<p style=\"text-align: justify;\">Of the 12 BC real estate boards who reported into the BCREA\u2019s monthly update, all but two boards cited lower home sales in May compared with a year earlier. The exceptions were the tiny market of Powell River, where statistics can fluctuate wildly, and Greater Victoria, which saw a strong May for home sales.<\/p>\n<p style=\"text-align: justify;\">Just five of the 12 BC boards reported annual declines in average sale prices. Because this included Greater Vancouver, the Fraser Valley and Victoria, it was enough to bring down the average overall provincial home sale price on an annual basis.<\/p>\n<p style=\"text-align: justify;\">Year-to-date, BC residential sales dollar volume was down 25.1% to $19.8 billion, compared with the same period in 2018. Residential unit sales decreased 20.2% to 28,711 units, while the average MLS residential price so far this year is down 6.2% to $688,339.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/biv.com\/article\/2019\/06\/bc-home-sales-see-slight-uptick-may-still-down-year-over-year-bcrea\" target=\"_blank\" rel=\"noopener noreferrer\">BCREA\u00a0 : BC Home Sales See Slight Uptick in May, Still Down Year Over Year<\/a> by Joannah Connolly | Glacier Media Real Estate | Business in Vancouver<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A total of 8,221 homes were sold on the British Columbia Multiple Listing Service in May, which is a drop of 7% from the same month last year, according to &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/07\/bcrea-home-sales-see-slight-uptick-still-down-y-y\/\">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-12950","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\u00a0Home Sales See Slight Uptick, Still Down Y\/Y &#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\/07\/bcrea-home-sales-see-slight-uptick-still-down-y-y\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BCREA\u00a0Home Sales See Slight Uptick, Still Down Y\/Y &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"A total of 8,221 homes were sold on the British Columbia Multiple Listing Service in May, which is a drop of 7% from the same month last year, according to &hellip; [read more]\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/06\/BCREA.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/07\\\/bcrea-home-sales-see-slight-uptick-still-down-y-y\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/07\\\/bcrea-home-sales-see-slight-uptick-still-down-y-y\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"BCREA\u00a0Home Sales See Slight Uptick, Still Down Y\\\/Y\",\"datePublished\":\"2019-07-02T17:10:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/07\\\/bcrea-home-sales-see-slight-uptick-still-down-y-y\\\/\"},\"wordCount\":340,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"image\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/07\\\/bcrea-home-sales-see-slight-uptick-still-down-y-y\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/06\\\/BCREA-288x158.jpg\",\"articleSection\":[\"Market Updates\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/07\\\/bcrea-home-sales-see-slight-uptick-still-down-y-y\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/07\\\/bcrea-home-sales-see-slight-uptick-still-down-y-y\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/07\\\/bcrea-home-sales-see-slight-uptick-still-down-y-y\\\/\",\"name\":\"BCREA\u00a0Home Sales See Slight Uptick, Still Down Y\\\/Y &#8226; 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