It’s a buyers’ market in BC.
The British Columbia Real Estate Association (BCREA) reports an 18.9 decline in home sales from the same month last year.
The April numbers are part of a downward trend for sales and prices in the province.
The average residential price in the province was $685,304, a decline of 6.2 per cent from April 2018.
Meanwhile, the sales dollar volume was $4.6 billion, a 23.9 per cent decline from the same month 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 33.6 per cent to 38,672 units compared to the same month last year.
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.
Residential unit sales also decreased 24.5 per cent to 20,479 units, while the average price was down 7 per cent to $680,671.
