No change in housing market from July to August: B.C. Real Estate Association
The B.C. Real Estate Association says home sales in August were up 2.4% from the same month a year ago, and the total sales dollar volume of $6.2-billion was up by 22%
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The average price was also up 19% from August of 2016 to $678,186.
Association Chief Economist Cameron Muir says home sales in August were unchanged from July.
He says while strong economic conditions are driving demand, rising prices and mortgage rates are expected to temper demand for the rest of this year.
Year-to-date, he says the residential sales dollar volume across the province was down 15.9% when comparing to the same period in 2016.
Unit sales are down 15% in the same time frame, and the average price is also down 1.1% to $706,839.
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