BCREA Housing Market Update February 2018

BC Real Estate Association (BCREA) Chief Economist Cameron Muir discusses the January 2018 statistics.

BC Home Sales Dip After Strong December, BCREA

Vancouver, BC – February 15, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 5,306 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in January, an increase of 18.3 per cent from the same period last year. The average MLS® residential price in BC was $721,477, up 16.2 per cent from the previous year. Total sales dollar volume was $3.83 billion, a 37.4 per cent increase from January 2017.
MLS Residential Sales Jan Feb 2018 Statistics Kamloops BC Real Estate Home House Kirsten Mason Team Century 21“BC home sales dipped 10 per cent from December to January, on a seasonally adjusted basis,” said Cameron Muir, BCREA Chief Economist. “New mortgage rules requiring conventional borrowers to qualify at a higher interest rate likely contributed to the decline in home sales last month. The impact was magnified by a strong December as many households advanced their purchase decisions ahead of the policy’s implementation.”
Despite the decline in January transactions, the seasonally adjusted annual rate of home sales was 101,800 units.
Compared to January 2017, market conditions tightened in all BC board areas except Victoria, where the sales-to-active listings ratio declined from 46.3 per cent to 40.5 per cent. Despite this decline, Victoria remains in strong sellers’ market territory. Total active listings in the province were down 8.6 per cent to 20,901 units, compared to the same period last year.

BCREA Housing Market Update for January 2018

BC Real Estate Association (BCREA) Chief Economist Cameron Muir discusses the December 2017 statistics.

BC Home Sales Above 100,000 for Third Consecutive Year, BCREA

Vancouver, BC – January 12, 2017. The British Columbia Real Estate Association (BCREA) reports that a total of 103,763 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in 2017, a decline of 7.5 per cent from a record 112,211 unit sales in 2016. The average MLS® residential price in BC was $709,579 in 2017, up 2.7 per cent from the previous year. Total sales dollar volume was $73.63 billion, down 5.1 per cent from 2016.

MLS Residential Sales Dec 2017 Jan 2018 BC Home House Real Estate Listings Market Mortgage Rates Information Statistics Century 21, Kamloops Best Top Agent Realtor

“Robust housing demand in 2017 was underpinned by a strong economy, employment growth and rising wages,” said Cameron Muir, BCREA Chief Economist. “Above trend migration, both international and interprovincial, also bolstered housing demand, while broader demographic fundamentals added fuel to condominium sales in urban centres and to all home types in retirement-oriented communities.”

 

The BC housing market ended the year with a strong December. Home sales increased 4 per cent from November, on a seasonally adjusted basis. However, the year-end results were likely pushed higher by some homebuyers advancing their purchases to avoid tougher mortgage qualification rules in the new year.
In December, a total of 5,738 residential unit sales were recorded by the MLS® across the province, an increase of 21.5 per cent from the same period last year. Total sales dollar volume was $4.2 billion, up 36.3 per cent from December 2016. The average MLS® residential price in the province was $734,108, up 12.1 per cent from the same month last year.

Kamloops District Real Estate Associations Statistics For December 2017, 4th Quarter and 2017 Year End

The Kamloops District Real Estate Association has released the latest Statistics For December 2017, 4th Quarter and 2017 Year End. Click on the image below to enlarge or PDF documents included in the links below.

Comparative Analysis by Property Type Dec 2017 - Annual

Comparative Analysis by Property Type Dec 2017 – Annual

PDF: Comparative Analysis by Property Type Dec 2017 – Annual

Comparative Analysis by Property Type Dec 2017

Comparative Analysis by Property Type Dec 2017

PDF: Comparative Analysis by Property Type Dec 2017

MLS Activity Dec 2017

MLS Activity Dec 2017

PDF: MLS Activity Dec 2017

Out of town Sales by Subarea Dec 2017 - Quarterly

Out of town Sales by Subarea Dec 2017 – Quarterly

Out of town Sales by Subarea Dec 2017 - Quarterly

Out of town Sales by Subarea Dec 2017 – Quarterly

PDF: Out of town Sales by Subarea Dec 2017 – Quarterly

Sales by Subarea Dec 2017 - Annual

Sales by Subarea Dec 2017 – Annual

PDF: Sales by Subarea Dec 2017 – Annual

Sales by Subarea Dec 2017 - Quarterly

Sales by Subarea Dec 2017 – Quarterly

PDF: Sales by Subarea Dec 2017 – Quarterly

Sales by Subarea Dec 2017

Sales by Subarea Dec 2017

PDF: Sales by Subarea Dec 2017

 

 

BCREA Housing Market Update December 2017

BC Real Estate Association (BCREA) Chief Economist Cameron Muir discusses the November 2017 statistics.

Strong Economy Supporting Elevated Housing Demand, BCREA

Vancouver, BC – December 12, 2017. The British Columbia Real Estate Association (BCREA) reports that a total of 7,731 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in November, an increase of 20.4 per cent from the same period last year. Total sales dollar volume was $5.59 billion, up 39.1 per cent from November 2016. The average MLS® residential price in the province was $723,112, up 15.5 per cent from November 2016.
BC MLS Sales November December 2017 Economy Kamloops Home House Sales Residential Real Estate MLS Listing Realty Kirsten Mason Century 21 Best top realtor agent“November was the third consecutive month that BC home sales were above 9,000 units, on a seasonally adjusted basis,” said Cameron Muir, BCREA Chief Economist. “Elevated consumer demand is being supported by strong employment growth, rising wages and favourable demographics.”
BC employment increased 3.8 per cent over the last 12 months, totaling over 90,000 jobs. Over the same period, average hourly wages in the province climbed 5.7 per cent to $26.82. Against this backdrop, a large cohort of millennials is entering their household-forming life stage. In addition, some buyers are likely completing purchases now in advance of tighter conventional mortgage qualifications, scheduled for the new year.
Year to date, BC residential sales dollar volume was down 6.8 per cent to $69.4 billion, when compared with the same period in 2016. Residential unit sales declined 8.8 per cent to 98,024 units, while the average MLS® residential price increased 2.2 per cent to $708,150.
1 2 3 29