{"id":22315,"date":"2023-07-17T10:10:00","date_gmt":"2023-07-17T17:10:00","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=22315"},"modified":"2023-07-13T10:31:57","modified_gmt":"2023-07-13T17:31:57","slug":"bcrea-summer-housing-market-continued-to-outperform-expectations","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2023\/07\/bcrea-summer-housing-market-continued-to-outperform-expectations\/","title":{"rendered":"BCREA Summer Housing Market Continued to Outperform Expectations"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver, BC \u2013 July 13, 2023. The British Columbia Real Estate Association (BCREA) reports that a total of 8,740 residential unit sales were recorded in Multiple Listing Service\u00ae (MLS\u00ae) systems in June 2023, an increase of 21.9% from June 2022. The average MLS\u00ae residential price in BC was $991,648, up 4.7% compared to June 2022. The total sales dollar volume was $8.7 billion, representing a 27.6% increase from the same time last year.<\/p>\n<p style=\"text-align: justify;\">\u201cJune home sales continued to outperform expectations, following a very strong rebound in May,\u201d said BCREA Chief Economist Brendon Ogmundson. \u201cHowever, rising interest rates will likely dampen home sales activity in coming months.\u201d<\/p>\n<p style=\"text-align: justify;\">Active listings in the province were above 30,000 units for the first time since September 2022, but were still down 1.2% compared to this time last year, and essentially flat month-over-month on a seasonally adjusted basis.<\/p>\n<p style=\"text-align: justify;\">Year-to-date BC residential sales dollar volume was down 26.1% to $39.4 billion, compared with the same period in 2022. Residential unit sales were down 21.1% to 40,381 units, while the average MLS\u00ae residential price was down 6.4% to $976,885.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.bcrea.bc.ca\/economics\/strong-start-to-the-summer-but-higher-interest-rates-loom\/\" 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:\/\/mlacanada.com\/newsfeed\/july-2023-pre-sale-report-strong-launch-activity-signifies-developer-confidence\" target=\"_blank\" rel=\"noopener\">Strong Start to The Summer, But Higher Interest Rates Loom<\/a> by Brendon Ogmundson | Chief Economist | BCREA<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver, BC \u2013 July 13, 2023. The British Columbia Real Estate Association (BCREA) reports that a total of 8,740 residential unit sales were recorded in Multiple Listing Service\u00ae (MLS\u00ae) systems &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2023\/07\/bcrea-summer-housing-market-continued-to-outperform-expectations\/\">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-22315","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 Summer Housing Market Continued to Outperform Expectations &#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\/2023\/07\/bcrea-summer-housing-market-continued-to-outperform-expectations\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BCREA Summer Housing Market Continued to Outperform Expectations &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Vancouver, BC \u2013 July 13, 2023. 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