By Gagandeep Ghuman
Published: June 11, 2019
It’s a buyers’ market in BC.
The British Columbia Real Estate Association (BCREA) reports an 18.9 percent decline in home sales this April compared to the same month last year.
The April numbers are part of a downward trend for sales and prices in the province that has continued since last year.
The average residential price in the province was $685,304 this April, a decline of 6.2 per cent compared to April of 2018.
It is the same story with sales dollar volume, which saw a 23.9 percent decline compared to last year.
“Prospective home buyers continue to grapple with the decline in their purchasing power caused by federal government changes to mortgage policy,” said BCREA Chief Economist Cameron Muir.
Meanwhile, active listings increased by 33.6 percent to 38,672 units in April compared to the April of 2018.
Meanwhile, year-to-date, BC residential sales dollar volume was down 29.8 per cent to $13.9 billion, compared with the same period in 2018.
