{"id":5862,"date":"2017-05-15T11:11:32","date_gmt":"2017-05-15T18:11:32","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=5862"},"modified":"2017-05-15T07:02:09","modified_gmt":"2017-05-15T14:02:09","slug":"bc-home-sales-turn-higher-inventories-at-20-year-low","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2017\/05\/bc-home-sales-turn-higher-inventories-at-20-year-low\/","title":{"rendered":"BC Home Sales Turn Higher, Inventories at 20-Year Low"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver, BC \u2013 May 15, 2017. The British Columbia Real Estate Association (BCREA) that a total of 9,865 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) in April, down 23.9% from the same period last year. Total sales dollar volume was $7.19 billion, down 25.4% from April 2016. The average MLS\u00ae residential price in the province was $728,955, a 2% decrease from the same period last year.<\/p>\n<p style=\"text-align: justify;\">\u201cBC home sales are on an upward trend this spring, led by a sharp increase in consumer demand in the Lower Mainland,&#8221; said Cameron Muir, BCREA Chief Economist. The seasonally adjusted annual rate (SAAR) of home sales was over 106,000 units in April, significantly above the five-year SAAR for April of 89,000 units.<\/p>\n<p style=\"text-align: justify;\">The supply of homes for sale declined 17% from April 2016. On a seasonally adjusted basis, active residential listings have declined 50% since 2012 and are now at their lowest level in over 20 years. The imbalance between supply and demand is continuing to drive home prices higher in most regions, further eroding affordability.<\/p>\n<p style=\"text-align: justify;\">Year-to-date, BC residential sales dollar volume was down 31.8% to $21.3 billion, when compared with the same period in 2016. Residential unit sales declined 25.0% to 30,757 units, while the average MLS\u00ae residential price was down 9.2% to $692,220.<\/p>\n<p style=\"text-align: justify;\">\u00a0\u00a0\u00a0\u00a0 <a href=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2017\/05\/bcrea.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-5865\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2017\/05\/bcrea-300x169.jpg\" alt=\"\" width=\"556\" height=\"313\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2017\/05\/bcrea-300x169.jpg 300w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2017\/05\/bcrea-768x432.jpg 768w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2017\/05\/bcrea-420x236.jpg 420w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2017\/05\/bcrea-310x174.jpg 310w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2017\/05\/bcrea-630x354.jpg 630w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2017\/05\/bcrea.jpg 800w\" sizes=\"auto, (max-width: 556px) 100vw, 556px\" \/><\/a><\/p>\n<p><a href=\"http:\/\/www.bcrea.bc.ca\/docs\/news-2017\/2017-04.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Click here<\/a> for the complete news release, including detailed statistics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver, BC \u2013 May 15, 2017. The British Columbia Real Estate Association (BCREA) that a total of 9,865 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) in &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2017\/05\/bc-home-sales-turn-higher-inventories-at-20-year-low\/\">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-5862","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BC Home Sales Turn Higher, Inventories at 20-Year Low &#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\/2017\/05\/bc-home-sales-turn-higher-inventories-at-20-year-low\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BC Home Sales Turn Higher, Inventories at 20-Year Low &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Vancouver, BC \u2013 May 15, 2017. 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