SURREY (NEWS 1130) — Record-setting home sales across the province in the spring have slowed down.
The British Columbia Real Estate Association (BCREA) says the market is returning to normal, even though the supply of homes hit a new low last month.
Sales for August dropped more than seven per cent compared to a year ago, with listings down more than 40 per cent compared to normal levels for the month.
BC Home Sales Returning to Normal While Supply Hits Record Low in August: #BCREA reports that a total of 9,507 residential unit sales were recorded by the MLS® in August 2021, a decrease of 7.1 per cent over August 2020.
— BC Real Estate Association (@bcrea) September 14, 2021
The average price for a home in B.C. was a little over $900-thousand, up more than 17 per cent year-over-year.
For Metro Vancouver, the average home price was…