Newspaper article The Canadian Press

B.C.'S 2017 Home Sales below 2016 Record, but Far above Average Says BCREA

Newspaper article The Canadian Press

B.C.'S 2017 Home Sales below 2016 Record, but Far above Average Says BCREA

Article excerpt

B.C. home sales stayed strong in 2017: BCREA

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VANCOUVER - The British Columbia Real Estate Association says fewer homes were sold across the province in 2017 compared with the year earlier, but it says prices were up and sales remained above 100,000 for the third straight year.

The association's snapshot of 2017 residential sales shows 103,763 properties changed hands, down 7.5 per cent from the 2016 record of 112,211.

The total dollar value of all sales also slipped 5.1 per cent to $73.63 billion but the association says the average price of a home nudged up 2.7 per cent to $709,579.

December was also a strong month for sales, as seasonally adjusted purchases jumped four per cent from November, although the association says year-end results may reflect buyers hurrying to avoid tougher mortgage qualification rules in January. …

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