{"id":16304,"date":"2020-08-13T10:10:00","date_gmt":"2020-08-13T17:10:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=16304"},"modified":"2020-08-13T09:11:34","modified_gmt":"2020-08-13T16:11:34","slug":"bcrea-strong-recovery-continues-in-housing-activity","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2020\/08\/bcrea-strong-recovery-continues-in-housing-activity\/","title":{"rendered":"BCREA Strong Recovery Continues in Housing Activity"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver, BC \u2013 August 13, 2020. The British Columbia Real Estate Association (BCREA) reports that a total of 10,090 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) in July 2020, an increase of 26.6% from July 2019. The average MLS\u00ae residential price in BC was $770,810, a 12.9% increase from $682,702 recorded the previous year. Total sales dollar volume in July was $7.8 billion, a 43% increase over 2019.<\/p>\n<p style=\"text-align: justify;\">\u201cThe strong recovery in sales activity continued in July,\u201d said BCREA Chief Economist Brendon Ogmundson. \u201cIncreased demand for more living space combined with an undersupplied market is producing significant upward pressure on home prices, particularly in the market for single-family homes.\u201d<\/p>\n<p style=\"text-align: justify;\">Active listings remain down significantly year-over-year, creating upward pressure on prices, though increased demand for single-family homes has somewhat skewed average prices in some markets.<\/p>\n<p style=\"text-align: justify;\">Year-to-date, BC residential sales dollar volume was up 8.4% to $32.5 billion, compared with the same period in 2019. Residential unit sales were down 1.4% to 43,718 units, while the average MLS\u00ae residential price was up 10% to $754,842.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.bcrea.bc.ca\/wp-content\/uploads\/2020-07.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Click here<\/a> for the complete news release, including detailed statistics.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.bcrea.bc.ca\/economics\/strong-recovery-continues-for-bc-housing-markets\/\" target=\"_blank\" rel=\"noopener noreferrer\">BCREA Strong Recovery Continues for BC Housing Markets<\/a> by Brendon Ogmundson | Chief Economist | BCREA<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver, BC \u2013 August 13, 2020. The British Columbia Real Estate Association (BCREA) reports that a total of 10,090 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2020\/08\/bcrea-strong-recovery-continues-in-housing-activity\/\">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-16304","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 Strong Recovery Continues in Housing Activity &#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\/2020\/08\/bcrea-strong-recovery-continues-in-housing-activity\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BCREA Strong Recovery Continues in Housing Activity &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Vancouver, BC \u2013 August 13, 2020. 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