Watch BCREA Chief Economist Brendon Ogmundson
discuss the January 2020 statistics.
For inquiries regarding statistical and economics-related news releases,
please contact: Brendon Ogmundson | Chief Economist 604.742.2796 |bogmundson@bcrea.bc.ca The Housing Market Update video webcast is produced monthly by the British Columbia Real Estate Association. Real estate boards, real estate associations and REALTORS® may reprint this content, provided that credit is given to BCREA by including the following statement: "Copyright British Columbia Real Estate Association. Reprinted with permission." BCREA makes no guarantees as to the accuracy or completeness of this information. BCREA is the professional association for more than 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients. To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.
Watch BCREA Chief Economist Brendon Ogmundson
discuss the December 2019 statistics.
For inquiries regarding statistical and economics-related news releases,
please contact: Brendon Ogmundson | Chief Economist | 604.742.279 | bogmundson@bcrea.bc.ca The Housing Market Update video webcast is produced monthly by the British Columbia Real Estate Association. Real estate boards, real estate associations and REALTORS® may reprint this content, provided that credit is given to BCREA by including the following statement: "Copyright British Columbia Real Estate Association. Reprinted with permission." BCREA makes no guarantees as to the accuracy or completeness of this information. BCREA is the professional association for more than 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients. To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.
For inquiries regarding statistical and economics-related news releases,
please contact: Brendon Ogmundson | Chief Economist | 604.742.2796 | bogmundson@bcrea.bc.ca The Housing Market Update video webcast is produced monthly by the British Columbia Real Estate Association. Real estate boards, real estate associations and REALTORS® may reprint this content, provided that credit is given to BCREA by including the following statement: "Copyright British Columbia Real Estate Association. Reprinted with permission." BCREA makes no guarantees as to the accuracy or completeness of this information. BCREA is the professional association for more than 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients. To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods. Vancouver, BC – December 12, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 6,616 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in November, an increase of 27.5 per cent from the same month last year. The average MLS® residential price in the province was $746,939, an increase of 5.5 per cent from November 2018. Total sales dollar volume was $4.94 billion, a 34.4 per cent increase from the same month last year. "After several months of strong gains, home sales are now firming around long-run averages," said BCREA Chief Economist Brendon Ogmundson. "We expect 2020 will be a much more typical year for markets compared to the volatility of recent years." MLS® residential active listings in the province were down 6.6 per cent from November 2018 to 31,310 units, and down for a seventh straight month on a seasonally adjusted basis. Overall market conditions remain balanced with a sales-to-active listings ratio of 21 per cent. Year-to-date, BC residential sales dollar volume was down 6 per cent to $50.23 billion, compared with the same period in 2018. Residential unit sales were 3.9 per cent lower at 72,106 units, while the average MLS® residential price was down 2.2 per cent year-to date at $696,574. For more information, please contact:
Brendon Ogmundson | Chief Economist Direct: 604.742.2769 | Mobile: 778.505.6793 | Email: bogmundson@bcrea.bc.ca BCREA is the professional association for more than 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients. To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.
Watch BCREA Chief Economist Brendon Ogmundson discuss the October 2019 statistics.
For inquiries regarding statistical and economics-related news releases,
please contact: Brendon Ogmundson | Chief Economist | 604.742.2796 | bogmundson@bcrea.bc.ca The Housing Market Update video webcast is produced monthly by the British Columbia Real Estate Association. Real estate boards, real estate associations and REALTORS® may reprint this content, provided that credit is given to BCREA by including the following statement: "Copyright British Columbia Real Estate Association. Reprinted with permission." BCREA makes no guarantees as to the accuracy or completeness of this information. BCREA is the professional association for more than 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients. To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods. For more information, please contact:
Brendon Ogmundson | Deputy Chief Economist 604.742.2796 | bogmundson@bcrea.bc.ca Kellie Fong | Economist 778.357.0831 | kfong@bcrea.bc.ca Mortgage Rate Forecast is published quarterly by the British Columbia Real Estate Association. Real estate boards, real estate associations and REALTORS® may reprint this content, provided that credit is given to BCREA by including the following statement: "Copyright British Columbia Real Estate Association. Reprinted with permission." BCREA makes no guarantees as to the accuracy or completeness of this information. Additional economics information is available on BCREA's website at: https://www.bcrea.bc.ca/what-we-do/economics/. Vancouver, BC – September 12, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 7,093 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in August, an increase of 4.9 per cent from the same month last year. The average MLS® residential price in the province was $685,575, an increase of 2.6 per cent from August 2018. Total sales dollar volume was $4.86 billion, a 7.6 per cent increase from the same month last year. BC home sales continue to recover from a policy-driven downturn,” said BCREA Deputy Chief Economist Brendon Ogmundson. Home sales have been rising through the spring and summer, but still remain well below pre-B20 stress test levels." MLS® residential active listings in the province were up 10 per cent from August 2018 to 40,098 units and were essentially flat compared to July on a seasonally adjusted basis. Overall market conditions remained in a balanced range with a sales-to-active listings ratio of about 18 per cent. Year-to-date, BC residential sales dollar volume was down 16 per cent to $34.9 billion, compared with the same period in 2018. Residential unit sales were 12.2 per cent lower at 50,806 units, while the average MLS® residential price was down 4.4 per cent year-to-date at $686,303. For more information, please contact:
Brendon Ogmundson | Deputy Chief Economist | Direct: 604.742.2796 | Mobile: 604.505.6793 | Email: bogmundson@bcrea.bc.ca BCREA is the professional association for more than 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients. To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods. Vancouver, BC – July 15, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 6,960 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in June, a decline of 11.8 per cent from the same month last year. The average MLS® residential price in the province was $687,584, a decline of 4 per cent from June 2018. Total sales dollar volume was $4.8 billion, a 15.3 per cent decline from the same month last year. “BC home sales moderated lower in June after a stronger showing in May,” said BCREA Deputy Chief Economist Brendon Ogmundson. “While mortgage rates offered by lenders have moved below 3 per cent, a static qualifying rate has limited the impact of the lower cost of borrowing.” Total MLS® residential active listings were up 18.6 per cent to 42,625 units compared to the same month last year and were essentially flat on a seasonally adjusted basis compared to May. Year-to-date, BC residential sales dollar volume was down 23.4 per cent to $24.5 billion, compared with the same period in 2018. Residential unit sales decreased 18.7 per cent to 35,679 units, while the average MLS® residential price was down 5.8 per cent to $688,080.. For more information, please contact:
Brendon Ogmundson | Deputy Chief Economist | Direct: 604.742.2796 | Mobile: 604.505.6793 | Email: bogmundson@bcrea.bc.ca The British Columbia Real Estate Association (BCREA) is the professional association for about 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province's 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients. To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods. For detailed statistical information, contact your local real estate board. MLS® is a cooperative marketing system used only by Canada's real estate boards to ensure maximum exposure of properties listed for sale. To subscribe to receive BCREA publications such as this one, or to update your email address or current subscriptions, click here. Read BCREA's latest BCREA Market Intelligence Report: The Impact of the B20 Stress Test on BC Home Sales in 2018 (July 2019). Summary findings include: the decline in home sales in 2018 was largely due to market factors like interest rates and affordability; without the stress test, home sales in BC would have been about 7,500 sales—or 10% higher—in 2018; and approximately $500 million in BC economic activity was lost due the B20 stress test. Additional economics information is available here on BCREA's website. For more information or to send questions or comments about the Market Intelligence Report, please contact:
Brendon Ogmundson | Deputy Chief Economist | Direct: 604.742.2796 | Email: bogmundson@bcrea.bc.ca Kellie Fong | Economist | Direct: 778.357.0831 | Email: kfong@bcrea.bc.ca BCREA is the professional association for more than 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients. To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods. To subscribe to receive other BCREA publications such as this one, to unsubscribe, or to update your email address or current subscription list, click here. Vancouver, BC – June 14, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 8,221 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in May, a decline of 7 per cent from the same month last year. The average MLS® residential price in the province was $707,829, a decline of 4.3 per cent from May 2018. Total sales dollar volume was $5.8 billion, an 11 per cent decline from the same month last year. “BC home sales increased 9 per cent in May compared to April, on a seasonally adjusted basis,” said BCREA Chief Economist Cameron Muir. “However, consumers continue to struggle with the negative shock to affordability that stringent mortgage lending policies have created.” Total MLS® residential active listings were up 23.2 per cent to 41,519 units compared to the same month last year. However, total active listings were down 2 per cent from April, on a seasonally adjusted basis, the first monthly decline since the B20 Stress test was introduced in January 2018. Year-to-date, BC residential sales dollar volume was down 25.1 per cent to $19.8 billion, compared with the same period in 2018. Residential unit sales decreased 20.2 per cent to 28,711 units, while the average MLS® residential price was down 6.2 per cent to $688,339. For more information, please contact:
Cameron Muir |Chief Economist Direct: 604.742.2780 | Mobile: 778.229.1884 Email: cmuir@bcrea.bc.ca The British Columbia Real Estate Association (BCREA) is the professional association for about 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province's 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients. To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods. For detailed statistical information, contact your local real estate board. MLS® is a cooperative marketing system used only by Canada's real estate boards to ensure maximum exposure of properties listed for sale. To subscribe to receive BCREA publications such as this one, or to update your email address or current subscriptions, click here. |
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