{"id":8565,"date":"2018-03-26T10:10:03","date_gmt":"2018-03-26T17:10:03","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=8565"},"modified":"2018-03-16T09:08:11","modified_gmt":"2018-03-16T16:08:11","slug":"bc-sales-activity-projected-to-drop-further-in-2019","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/03\/bc-sales-activity-projected-to-drop-further-in-2019\/","title":{"rendered":"BC Sales Activity Projected to Drop Further in 2019"},"content":{"rendered":"<p style=\"text-align: justify;\">In its latest forecast, the BC Real Estate Association (BCREA) stated that residential resales on the MLS\u00ae will be 8.6% lower this year than in 2017, to reach a full-year total of 94,855 units.<\/p>\n<p style=\"text-align: justify;\">Although this would remain well above the 10-year average sales total of 84,800 homes, the 2018 anticipated figures would mark the first time that sales total less than 100,000.<\/p>\n<p style=\"text-align: justify;\">The forecast added that sales would drop further in 2019 to 94,025 units.<\/p>\n<p style=\"text-align: justify;\">In spite of weaker sales and rising rates, the BCREA predicted that MLS\u00ae home sale prices across BC will continue to increase by 6% this year (up to $752,000), and by 4% in 2019 (up to $781,800).<\/p>\n<p style=\"text-align: justify;\">\u201cMore stringent mortgage qualifications and rising interest rates will further erode affordability and household purchasing power,\u201d BCREA chief economist Cameron Muir said, as quoted by the Vancouver Courier.<\/p>\n<p style=\"text-align: justify;\">However, the BCREA hastened to add that these expected price growth rates are much lower than those experienced in the past few years, mainly due to tighter mortgage regulations, increasing interest rates, and a projected strengthening of supply upon the completion of ongoing new construction.<\/p>\n<p><a href=\"https:\/\/www.canadianrealestatemagazine.ca\/news\/b-c--sales-activity-projected-to-dip-this-year-239184.aspx\" target=\"_blank\" rel=\"noopener\">BC Sales Activity Projected to Dip This Year<\/a> by Ephraim Vecina | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In its latest forecast, the BC Real Estate Association (BCREA) stated that residential resales on the MLS\u00ae will be 8.6% lower this year than in 2017, to reach a full-year &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/03\/bc-sales-activity-projected-to-drop-further-in-2019\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-8565","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 Sales Activity Projected to Drop Further in 2019 &#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\/2018\/03\/bc-sales-activity-projected-to-drop-further-in-2019\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BC Sales Activity Projected to Drop Further in 2019 &#8226; 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