{"id":17897,"date":"2021-05-14T10:10:00","date_gmt":"2021-05-14T17:10:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=17897"},"modified":"2021-05-14T09:34:01","modified_gmt":"2021-05-14T16:34:01","slug":"bcrea-housing-market-calming-new-listings-needed-to-balance-out-temper-growth-in-home-prices","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2021\/05\/bcrea-housing-market-calming-new-listings-needed-to-balance-out-temper-growth-in-home-prices\/","title":{"rendered":"BCREA Housing Market Calming, New Listings Needed to Balance Out &#038; Temper Growth in Home Prices"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver, BC \u2013 May 12, 2021. The British Columbia Real Estate Association (BCREA) reports that a total of 13,683 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) in April 2021, an increase of 312.3% over April 2020 when the onset of the COVID-19 pandemic prompted a lockdown of the provincial economy. The average MLS\u00ae residential price in BC was $946,606, a 29.1% increase from $733,330 recorded in April 2020. Total sales dollar volume was $12.9 billion, a 432.2% increase from last year.<\/p>\n<p style=\"text-align: justify;\">\u201cAlthough provincial home sales were down slightly from an all-time high in March, sales activity was the highest on record for April,\u201d said BCREA Chief Economist Brendon Ogmundson. \u201cHome sales continue on a record pace, though we do see a calming environment compared to the frenzied activity of recent months.\u201d<\/p>\n<p style=\"text-align: justify;\">Total active residential listings were down 14.5% year-over-year in April but did tick higher on a seasonally adjusted basis for the second consecutive month as new listings activity ramped up.<\/p>\n<p style=\"text-align: justify;\">&#8220;We are starting to see very strong new listings activity in several markets,\u201d said Ogmundson, \u201chowever, it will take quite some time for total listings to return to the level needed to balance out markets and temper growth in home prices.\u201d<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.bcrea.bc.ca\/wp-content\/uploads\/2021-04.pdf\" target=\"_blank\" rel=\"noopener\">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\/bc-markets-calming-but-sales-still-on-record-pace\/\" target=\"_blank\" rel=\"noopener\">BC Markets Calming but Sales Still on Record Pace<\/a> by Brendon Ogmundson | Chief Economist | BCREA<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver, BC \u2013 May 12, 2021. The British Columbia Real Estate Association (BCREA) reports that a total of 13,683 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2021\/05\/bcrea-housing-market-calming-new-listings-needed-to-balance-out-temper-growth-in-home-prices\/\">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-17897","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BCREA Housing Market Calming, New Listings Needed to Balance Out &amp; Temper Growth in Home Prices &#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\/2021\/05\/bcrea-housing-market-calming-new-listings-needed-to-balance-out-temper-growth-in-home-prices\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BCREA Housing Market Calming, New Listings Needed to Balance Out &amp; Temper Growth in Home Prices &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Vancouver, BC \u2013 May 12, 2021. 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