{"id":22480,"date":"2023-08-14T10:10:00","date_gmt":"2023-08-14T17:10:00","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=22480"},"modified":"2023-08-14T08:57:37","modified_gmt":"2023-08-14T15:57:37","slug":"bcrea-new-listings-return-to-normal-levels-sales-moderate","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2023\/08\/bcrea-new-listings-return-to-normal-levels-sales-moderate\/","title":{"rendered":"BCREA New Listings Return to Normal Levels &#038; Sales Moderate"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver, BC \u2013 August 10, 2023. The British Columbia Real Estate Association (BCREA) reports that a total of 7,103 residential unit sales were recorded in Multiple Listing Service\u00ae (MLS\u00ae) systems in July 2023, an increase of 25.9% from July 2022. The average MLS\u00ae residential price in BC was $967,948, up 5.6% compared to July 2022. The total sales dollar volume was $6.9 billion, representing a 33% increase from the same time last year.<\/p>\n<p style=\"text-align: justify;\">\u201cHome sales are up significantly since this time last year,\u201d said BCREA Chief Economist Brendon Ogmundson. \u201cThat said, there are signs that the most recent Bank of Canada rate increases are slowing activity as mortgage rates climb to their highest levels in over a decade.\u201d<\/p>\n<p style=\"text-align: justify;\">Active listings in the province were flat compared with July 2022, at just over 31,000 total listings and were up for the second consecutive month on a monthly, seasonally adjusted basis, as new listings return to more normal levels and sales moderate.<\/p>\n<p style=\"text-align: justify;\">Year-to-date BC residential sales dollar volume was down 20.9% to $46.3 billion, compared with the same period in 2022. Residential unit sales were down 16.3% to 47,508 units, while the average MLS\u00ae residential price was down 5.4% to $975,232.<\/p>\n<p><a href=\"https:\/\/www.bcrea.bc.ca\/wp-content\/uploads\/2023-07.pdf\" target=\"_blank\" rel=\"noopener\">Click here<\/a> for the complete news release, including detailed statistics.<\/p>\n<p><a href=\"https:\/\/www.bcrea.bc.ca\/economics\/bank-of-canada-upends-summer-sales-recovery\/\" target=\"_blank\" rel=\"noopener\">Bank of Canada Upends Summer Sales Recovery<\/a> by Brendon Ogmundson | Chief Economist | BCREA<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver, BC \u2013 August 10, 2023. The British Columbia Real Estate Association (BCREA) reports that a total of 7,103 residential unit sales were recorded in Multiple Listing Service\u00ae (MLS\u00ae) systems &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2023\/08\/bcrea-new-listings-return-to-normal-levels-sales-moderate\/\">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-22480","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BCREA New Listings Return to Normal Levels &amp; Sales Moderate &#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\/08\/bcrea-new-listings-return-to-normal-levels-sales-moderate\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BCREA New Listings Return to Normal Levels &amp; Sales Moderate &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Vancouver, BC \u2013 August 10, 2023. 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