{"id":19442,"date":"2022-02-14T10:10:00","date_gmt":"2022-02-14T18:10:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=19442"},"modified":"2022-02-14T09:13:53","modified_gmt":"2022-02-14T17:13:53","slug":"bcrea-home-sales-activity-remains-strong","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2022\/02\/bcrea-home-sales-activity-remains-strong\/","title":{"rendered":"BCREA Home Sales Activity Remains Strong"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver, BC \u2013 February 14, 2022. The British Columbia Real Estate Association (BCREA) reports that a total of 6,138 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) in January 2022, a decrease of 14.7% from January 2021. The average MLS\u00ae residential price in BC was $1,042,169, a 23.5% increase from $843,918 recorded in January 2021. Total sales dollar volume was $6.4 billion, a 5.3% increase from the same time last year.<\/p>\n<p style=\"text-align: justify;\">\u201cSales activity is down compared to record levels at the start of last year,\u201d said BCREA Chief Economist Brendon Ogmundson. \u201cHowever, the level of sales activity remains strong compared to the long-term average and inventory is still incredibly low. As a result, it will take quite some time to get back to healthy balance in the BC market.\u201d<\/p>\n<p style=\"text-align: justify;\">Total active listings remain near record lows with just 13,000 total listings in the province. For context, a healthy level of re-sale listings for the province is closer to 40,000 listings. As a result of this listings drought, markets all over the province are seeing significant upward pressure on prices.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.bcrea.bc.ca\/wp-content\/uploads\/2022-01.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\/extremely-tight-conditions-persist-in-the-bc-housing-market\/\" target=\"_blank\" rel=\"noopener\">Extremely Tight Conditions Persist in The BC Housing Market<\/a> by Brendon Ogmundson | Chief Economist | BCREA<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver, BC \u2013 February 14, 2022. The British Columbia Real Estate Association (BCREA) reports that a total of 6,138 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2022\/02\/bcrea-home-sales-activity-remains-strong\/\">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-19442","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 Home Sales Activity Remains Strong &#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\/2022\/02\/bcrea-home-sales-activity-remains-strong\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BCREA Home Sales Activity Remains Strong &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Vancouver, BC \u2013 February 14, 2022. 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