{"id":2376,"date":"2016-06-15T09:13:59","date_gmt":"2016-06-15T16:13:59","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=2376"},"modified":"2016-06-15T09:14:08","modified_gmt":"2016-06-15T16:14:08","slug":"record-home-sales-creates-wave-of-new-home-construction","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2016\/06\/record-home-sales-creates-wave-of-new-home-construction\/","title":{"rendered":"Record Home Sales Creates Wave of New Home Construction"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver, BC \u2013 June 15, 2016. The British Columbia Real Estate Association (BCREA) reports that a record 13,458 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) in May, up 32.3% from the same month last year. Home sales last month exceeded April\u2019s record of 12,969 units. Total sales dollar volume was $9.72 billion in May, up 51.1% compared to the previous year. The average MLS\u00ae residential price in the province was up 14.2% year-over-year, to $722,146.<\/p>\n<p style=\"text-align: justify;\">\u201cRecord housing demand and dwindling inventories are continuing to push home prices higher in most BC regions,\u201d said Cameron Muir, BCREA Chief Economist. \u201cTotal active residential listings across the province are nearly 30% lower than twelve months ago.\u201c<\/p>\n<p style=\"text-align: justify;\">\u201cNew home construction activity is at a near record pace in the province,\u201d added Muir. In the Metro Vancouver market, a record number of homes are now under construction. \u201cOnce the current crop of homes are ready for occupancy there will likely be more selection for home buyers and less upward pressure on home prices.&#8221;<\/p>\n<p style=\"text-align: justify;\">Year-to-date, BC residential sales dollar volume increased 62% to $41 billion, when compared with the same period in 2015. Residential unit sales climbed by 35.2% to 54,455 units, while the average MLS\u00ae residential price was up 19% to $752,105.<\/p>\n<p>\u00a0\u00a0\u00a0\u00a0 <a href=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2016\/06\/Record-Home-Sales-Creates-Wave-of-New-Home-Construction.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-2377\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2016\/06\/Record-Home-Sales-Creates-Wave-of-New-Home-Construction-300x169.jpg\" alt=\"Record Home Sales Creates Wave of New Home Construction\" width=\"568\" height=\"320\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2016\/06\/Record-Home-Sales-Creates-Wave-of-New-Home-Construction-300x169.jpg 300w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2016\/06\/Record-Home-Sales-Creates-Wave-of-New-Home-Construction-310x174.jpg 310w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2016\/06\/Record-Home-Sales-Creates-Wave-of-New-Home-Construction.jpg 397w\" sizes=\"auto, (max-width: 568px) 100vw, 568px\" \/><\/a><\/p>\n<p><a href=\"http:\/\/www.bcrea.bc.ca\/docs\/news-2016\/2016-05.pdf\" target=\"_blank\">Click here<\/a> for the complete news release, including detailed statistics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver, BC \u2013 June 15, 2016. The British Columbia Real Estate Association (BCREA) reports that a record 13,458 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) in &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2016\/06\/record-home-sales-creates-wave-of-new-home-construction\/\">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-2376","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>Record Home Sales Creates Wave of New Home Construction &#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\/2016\/06\/record-home-sales-creates-wave-of-new-home-construction\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Record Home Sales Creates Wave of New Home Construction &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Vancouver, BC \u2013 June 15, 2016. 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