Market Update

Blog by David Valente

<< back to article list

BCREA: Mortgage Stress Test Continues to Dampen Home Sales in February

thumb
Mortgage Stress Test Continues to Dampen Home Sales in February


thumb

Vancouver, BC – March 13, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 4,533 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in February, a decline of 27 per cent from the same month last year. The average MLS® residential price in the province was $678,625, a decline of 9.3 per cent from February 2018. Total sales dollar volume was $3.08 billion, a 33.8 per cent decline from the same month last year.

Total MLS® residential active listings increased 36.5 per cent to 30,891 units compared to the same month last year. The ratio of sales to active residential listings declined from 27.4 per cent to 14.7 per cent over the same period.

“Falling mortgage rates should provide some relief for homebuyers, providing a small boost to affordability heading into the spring,” added Ogmundson.

-30-

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.

Facebook - Realtor David Valente Vancouver Real Estate Twitter - Realtor David Valente Vancouver Real Estate LinkedIn - Realtor David Valente Vancouver Real Estate Email - Realtor David Valente Vancouver Real Estate FeedBurner - Realtor David Valente Vancouver Real Estate
Subscribe to my newsletter

Enter your email address:

Delivered by FeedBurner

The data relating to real estate on this web site comes in part from the MLS Reciprocity program of the Real Estate Board of Greater Vancouver. Real estate listings held by participating real estate firms are marked with the MLSR logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by the Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of the Real Estate Board of Greater Vancouver. Copyright 2019 by the Real Estate Board of Greater Vancouver, Fraser Valley Real Estate Board, Chilliwack and District Real Estate Board, BC Northern Real Estate Board, and Kootenay Real Estate Board. All Rights Reserved.

The data relating to real estate on this web site comes in part from the MLS Reciprocity program of the Real Estate Board of Greater Vancouver. Real estate listings held by participating real estate firms are marked with the MLSR logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by the Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of the Real Estate Board of Greater Vancouver. Copyright 2019 by the Real Estate Board of Greater Vancouver, Fraser Valley Real Estate Board, Chilliwack and District Real Estate Board, BC Northern Real Estate Board, and Kootenay Real Estate Board. All Rights Reserved.

The data relating to real estate on this web site comes in part from the MLS Reciprocity program of the Real Estate Board of Greater Vancouver. Real estate listings held by participating real estate firms are marked with the MLSR logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by the Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of the Real Estate Board of Greater Vancouver. Copyright 2019 by the Real Estate Board of Greater Vancouver, Fraser Valley Real Estate Board, Chilliwack and District Real Estate Board, BC Northern Real Estate Board, and Kootenay Real Estate Board. All Rights Reserved.

Search For Listings

Price: To

A Proud Supporter of

Lions Gate Hospital Foundation.jpg

REBGV Market Report & Stats Pack

Download this months
real estate newsletter

thumb