Yet another indication of the slowing housing market – this time for the entire province.
The B.C. Real Estate Association reports that sales in December were down 28% from the same month a year ago, the total sales dollar volume was down 33%, and the average price of $654,000 province-wide was down 6%.
“Broad-based consumer demand driven by strong economic conditions, employment growth, consumer confidence, and an expanding population base pushed home sales to record levels in many BC regions last year,” says BCREA Cheif Economist Cameron Muir.
He does note, however, than home sales have fallen back from what they were early last year.