{"id":9800,"date":"2018-07-13T08:08:40","date_gmt":"2018-07-13T15:08:40","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=9800"},"modified":"2018-07-13T08:04:31","modified_gmt":"2018-07-13T15:04:31","slug":"bcrea-a-return-to-balance-for-bc-housing-market","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/07\/bcrea-a-return-to-balance-for-bc-housing-market\/","title":{"rendered":"BCREA A Return to Balance for BC Housing Market"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver, BC \u2013 July 13, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 7,884 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) across the province in June, a 32.5% decrease from the same month last year. The average MLS\u00ae residential price in BC was $716,326, down 1.3% from June 2017. Total sales dollar volume was $5.6 billion, a 33% decline from June 2017.<\/p>\n<p style=\"text-align: justify;\">\u201cThe impact of the B20 stress test is still being felt across the province,\u201d said Brendon Ogmundson, BCREA Deputy Chief Economist. \u201cLower demand as the result of higher mortgage rates and stringent mortgage qualification rules are bringing most markets around the province back into balanced conditions.\u201d<\/p>\n<p style=\"text-align: justify;\">Although the supply of active listings in the province is on the rise, inventory remains low by historical standards and markets like Vancouver Island and the Okanagan remain undersupplied.<\/p>\n<p style=\"text-align: justify;\">Year-to-date, BC residential sales dollar volume was down 18% to $32 billion, compared with the same period in 2017. Residential unit sales decreased 20% to 43,863 units, while the average MLS\u00ae residential price was up 2.4% to $730,492.<\/p>\n<p>\u00a0\u00a0\u00a0\u00a0 <a href=\"https:\/\/www.roryc.ca\/blog\/?attachment_id=9801\" rel=\"attachment wp-att-9801\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-9801\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/07\/BCREA-288x194.jpg\" alt=\"\" width=\"551\" height=\"371\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/07\/BCREA-288x194.jpg 288w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/07\/BCREA.jpg 578w\" sizes=\"auto, (max-width: 551px) 100vw, 551px\" \/><\/a><\/p>\n<p><a href=\"http:\/\/www.bcrea.bc.ca\/docs\/news-2018\/2018-06.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, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 7,884 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/07\/bcrea-a-return-to-balance-for-bc-housing-market\/\">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-9800","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>BCREA A Return to Balance for BC Housing Market &#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\/07\/bcrea-a-return-to-balance-for-bc-housing-market\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BCREA A Return to Balance for BC Housing Market &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Vancouver, BC \u2013 July 13, 2018. 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