{"id":24271,"date":"2024-07-17T10:10:00","date_gmt":"2024-07-17T17:10:00","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=24271"},"modified":"2024-07-15T08:57:16","modified_gmt":"2024-07-15T15:57:16","slug":"bcrea-summer-housing-market-pause-soft-sales-listings-activity-continue","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2024\/07\/bcrea-summer-housing-market-pause-soft-sales-listings-activity-continue\/","title":{"rendered":"BCREA Summer Housing Market Pause, Soft Sales &#038; Listings Activity Continue"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver, BC \u2013 July 15, 2024. The British Columbia Real Estate Association (BCREA) reports that 7,082 residential unit sales were recorded in Multiple Listing Service\u00ae (MLS\u00ae) systems in June 2024, a 19% decrease from June 2023. The average MLS\u00ae residential price in BC in June 2024 was up 1% at $998,159 compared to an average price of $988,632 in June 2023. The total sales dollar volume was $7.1 billion, an 18% decline from the same time the previous year. BC MLS\u00ae unit sales were 24% lower than the ten-year average for June.<\/p>\n<p style=\"text-align: justify;\">\u201cSales activity in June was much softer than the same time last year, with June of 2023 representing the market peak following last summer\u2019s pause in rate hikes,\u201d said BCREA Chief Economist Brendon Ogmundson. \u201cHowever, both sales and active listings continue to gradually inch upwards, keeping the market in balanced territory.\u201d<\/p>\n<p style=\"text-align: justify;\">Year-to-date, BC residential sales dollar volume was down 2% to $38.6 billion, compared with the same period in 2023. Residential unit sales were down by 4.1% year-over-year at 38,639 units, while the average MLS\u00ae residential price was up 2.3% to $997,883.<\/p>\n<p><a href=\"https:\/\/www.bcrea.bc.ca\/wp-content\/uploads\/2024-06.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\/home-sales-continue-at-below-average-pace-in-june\/\" target=\"_blank\" rel=\"noopener\">Home Sales Continue at Below Average Pace in June<\/a> by Brendon Ogmundson | Chief Economist | BCREA<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver, BC \u2013 July 15, 2024. The British Columbia Real Estate Association (BCREA) reports that 7,082 residential unit sales were recorded in Multiple Listing Service\u00ae (MLS\u00ae) systems in June 2024, &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2024\/07\/bcrea-summer-housing-market-pause-soft-sales-listings-activity-continue\/\">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-24271","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 v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BCREA Summer Housing Market Pause, Soft Sales &amp; Listings Activity Continue &#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\/07\/bcrea-summer-housing-market-pause-soft-sales-listings-activity-continue\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BCREA Summer Housing Market Pause, Soft Sales &amp; Listings Activity Continue &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Vancouver, BC \u2013 July 15, 2024. 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