BC market continues freeze
Okanagan Edge Staff - May 17, 2019 - BC Biz

Image: The Canadian Press

Home sales and their prices continue to fall back to earth in B.C.

The British Columbia Real Estate Association reported an 18.9 per cent decline in sales in April when compared to the same month in 2018. It also found that the average price from sales that were recorded by the Multiple Listing Service (MLS) dropped 6.2 per cent when compared to the year before.

“B.C. home sales were essentially unchanged from March on a seasonally adjusted basis,” BCREA chief economist Cameron Muir said in a press release. “Prospective home buyers continue to grapple with the decline in their purchasing power caused by federal government changes to mortgage policy.”

As for the year-to-date numbers, B.C. residential sales dollar volume was down 29.8 per cent, the number of sales decreased 24.5 per cent and the price dropped seven per cent when compared to the first four months of 2018.

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