{"id":3012,"date":"2016-08-11T08:56:32","date_gmt":"2016-08-11T15:56:32","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=3012"},"modified":"2016-08-11T08:56:41","modified_gmt":"2016-08-11T15:56:41","slug":"bcrea-housing-market-slows-to-a-simmer-in-bc","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2016\/08\/bcrea-housing-market-slows-to-a-simmer-in-bc\/","title":{"rendered":"BCREA : Housing Market Slows to A Simmer in BC"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver, BC \u2013 August 11, 2016. The British Columbia Real Estate Association (BCREA) reports that 9,900 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) in July, down 3.4% from the same month last year. Total sales dollar volume was $6.57 billion in July, up 5.4% compared to the previous year. The average MLS\u00ae residential price in the province was up 9.1% year-over-year, to $663,411.<\/p>\n<p style=\"text-align: justify;\">\u201cHousing demand has moderated in many regions of the province, after setting records earlier in the year,\u201d said Cameron Muir, BCREA Chief Economist. \u201cThe less frenetic pace of home sales will likely provide a much needed boost to the inventory of homes for sale. The rate of home price appreciation is also expected to slow from the unsustainable level exhibited this spring.\u201c<\/p>\n<p style=\"text-align: justify;\">Year-to-date, BC residential sales dollar volume increased 45.5% to $56.5 billion, when compared with the same period in 2015. Residential unit sales climbed by 25% to 77,261 units, while the average MLS\u00ae residential price was up 16.4% to $731,189.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2016\/08\/bcrea.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-3013\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2016\/08\/bcrea-300x169.jpg\" alt=\"bcrea\" width=\"554\" height=\"312\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2016\/08\/bcrea-300x169.jpg 300w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2016\/08\/bcrea.jpg 419w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2016\/08\/bcrea-310x174.jpg 310w\" sizes=\"auto, (max-width: 554px) 100vw, 554px\" \/><\/a><\/p>\n<p><a href=\"http:\/\/www.bcrea.bc.ca\/docs\/news-2016\/2016-07.pdf\" target=\"_blank\">Click here<\/a> for the complete news release, including detailed statistics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver, BC \u2013 August 11, 2016. The British Columbia Real Estate Association (BCREA) reports that 9,900 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) in July, down &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2016\/08\/bcrea-housing-market-slows-to-a-simmer-in-bc\/\">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-3012","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 : Housing Market Slows to A Simmer in BC &#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\/08\/bcrea-housing-market-slows-to-a-simmer-in-bc\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BCREA : Housing Market Slows to A Simmer in BC &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Vancouver, BC \u2013 August 11, 2016. 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