{"id":6450,"date":"2017-07-13T07:01:28","date_gmt":"2017-07-13T14:01:28","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=6450"},"modified":"2017-07-13T07:01:28","modified_gmt":"2017-07-13T14:01:28","slug":"strong-economy-keeps-housing-demand-above-long-run-average","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2017\/07\/strong-economy-keeps-housing-demand-above-long-run-average\/","title":{"rendered":"Strong Economy Keeps Housing Demand Above Long-Run Average"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver, BC \u2013 July 13, 2017. The The British Columbia Real Estate Association (BCREA) reports that a total of 11,671 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) in June, down 9.6% from the same period last year. Total sales dollar volume was $8.47 billion, down 5.6% from June 2016. The average MLS\u00ae residential price in the province was $725,778, a 4.4% increase from the same period last year.<\/p>\n<p style=\"text-align: justify;\">\u201cAlthough home sales remain well off the record pace set last year, demand is still quite robust,&#8221; said Brendon Ogmundson, BCREA Economist. &#8220;That demand is supported by a strong provincial economy and vigorous job growth.&#8221;<br \/>\n&#8220;But, supply remains a challenge, which means most areas are seeing tight market conditions and significant upward pressure on prices,&#8221; said Ogmundson. Total active listings in the province were down 6.2% to 29,651 units from June 2016.<\/p>\n<p style=\"text-align: justify;\">Year-to-date, BC residential sales dollar volume was down 21.7% to $39.1 billion, when compared with the same period in 2016. Residential unit sales declined 18.6% to 54,830 units, while the average MLS\u00ae residential price was down 3.8% to $712,993.<\/p>\n<p>\u00a0\u00a0\u00a0\u00a0 <a href=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2017\/07\/bcrea.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-6451\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2017\/07\/bcrea-300x225.jpg\" alt=\"\" width=\"516\" height=\"387\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2017\/07\/bcrea-300x225.jpg 300w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2017\/07\/bcrea.jpg 600w\" sizes=\"auto, (max-width: 516px) 100vw, 516px\" \/><\/a><\/p>\n<p><a href=\"http:\/\/www.bcrea.bc.ca\/docs\/news-2017\/2017-06.pdf\" target=\"_blank\" rel=\"noopener\">Click here<\/a> for the complete news release, including detailed statistics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver, BC \u2013 July 13, 2017. The The British Columbia Real Estate Association (BCREA) reports that a total of 11,671 residential unit sales were recorded by the Multiple Listing Service\u00ae &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2017\/07\/strong-economy-keeps-housing-demand-above-long-run-average\/\">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-6450","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>Strong Economy Keeps Housing Demand Above Long-Run Average &#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\/07\/strong-economy-keeps-housing-demand-above-long-run-average\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Strong Economy Keeps Housing Demand Above Long-Run Average &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Vancouver, BC \u2013 July 13, 2017. 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