{"id":24078,"date":"2024-06-17T10:10:00","date_gmt":"2024-06-17T17:10:00","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=24078"},"modified":"2024-06-13T09:03:00","modified_gmt":"2024-06-13T16:03:00","slug":"bcrea-housing-markets-remain-in-balanced-territory","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2024\/06\/bcrea-housing-markets-remain-in-balanced-territory\/","title":{"rendered":"BCREA Housing Markets Remain in Balanced Territory"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver, BC \u2013 June 13, 2024. The British Columbia Real Estate Association (BCREA) reports that 8,075 residential unit sales were recorded in Multiple Listing Service\u00ae (MLS\u00ae) systems in May 2024, a 11.6% decrease from May 2023. The average MLS\u00ae residential price in BC in May 2024 was down 1.5% at $1 million, compared to an average price of $1.02 million in May 2023. The total sales dollar volume was $8.1 billion, a 13% decline from the same time the previous year.<\/p>\n<p style=\"text-align: justify;\">&#8220;Markets could not match the surge in home sales that occurred this time last year,&#8221; said BCREA Chief Economist Brendon Ogmundson. &#8220;However, we are starting to see a pick-up in sales activity to more normal levels, which, combined with rising inventory, is helping to keep markets in balanced territory.&#8221;<\/p>\n<p style=\"text-align: justify;\">Year-to-date, BC residential sales dollar volume was up 2.7% to $31.5 billion, compared with the same period in 2023. Residential unit sales were flat year-over-year at 31,573 units, while the average MLS\u00ae residential price was up 2.6% to $997,899.<\/p>\n<p><a href=\"https:\/\/www.bcrea.bc.ca\/wp-content\/uploads\/2024-05.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\/markets-remain-in-balance-heading-into-summer\/\" target=\"_blank\" rel=\"noopener\">Markets Remain in Balance Heading into Summer<\/a> by Brendon Ogmundson | Chief Economist | BCREA<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver, BC \u2013 June 13, 2024. The British Columbia Real Estate Association (BCREA) reports that 8,075 residential unit sales were recorded in Multiple Listing Service\u00ae (MLS\u00ae) systems in May 2024, &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2024\/06\/bcrea-housing-markets-remain-in-balanced-territory\/\">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":[8,13],"tags":[],"class_list":["post-24078","post","type-post","status-publish","format-standard","hentry","category-market-updates","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BCREA Housing Markets Remain in Balanced Territory &#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\/2024\/06\/bcrea-housing-markets-remain-in-balanced-territory\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BCREA Housing Markets Remain in Balanced Territory &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Vancouver, BC \u2013 June 13, 2024. 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