Team Fazi Real Estate

Because you count as 1

Tel: (778) 899-8829 |

May Market Update

Vancouver, BC – June 14, 2019. The British Columbia Real Estate Association (BCREA) has reported that total residential active listings were up 23.2% compared to the same month last year.

However, total active listings were down 2 per cent from April. This is the first monthly decline since the B20 Stress test was introduced in January 2018.

In BC, total residential unit sales as is recorded by MLS® in May, a decline of 7% from in May 2018 and the average MLS® residential price showed a decline of 4.3% from May 2018. Total sales dollar volume was 11% lower compare to the same month last year.

In this year, BC home sales increased 9% in May compared to April, however, consumers continued to struggle with the negative shock to affordability as a result of current stringent mortgage lending policies.

Year-to-date, BC total residential sales dollar volume was down 25.1% compared with the same period in 2018 and total residential unit sales decreased 20.2%, while the average residential price was down 6.2%.

No comments

Post Your Comment:

CBC | Business News

Desperate employers dangle signing bonuses to lure in workers
Edward Fitchett

While pandemic job losses linger in the economy, some companies are struggling to find employees. A review of popular job listing sites in Canada showed companies ranging from retailing giant Amazon to small, local enterprises are offering signing bonuses to lure workers to jobs like delivery drivers or hair stylists.

Higher oil prices boost profits at Canadian energy companies after pandemic-era losses
Blood Tribe oil

After racking up debt in 2020, the Canadian oilpatch is enjoying a rebound so far this year as major oil producers are gushing profits as oil prices are near a seven-year high. This week, many energy companies based in Calgary unveiled their latest earnings reports and for the second straight quarter, the industry showed hefty profits.

Business travel isn't expected to return to pre-pandemic levels anytime soon
Future of Business Travel

Business travel may be a long time coming back to pre-pandemic levels. That will hurt many bottom lines, particularly for airlines where business trips make up a significant part of industry profit.

Here's what Canada's business leaders think about heading back to the office
COVID mask woman retail future

After 500 days of working from home, CBC News reached out to dozens of business leaders across the country for their thoughts on the looming return to offices. Across the spectrum, one sentiment was echoed: Things definitely won't be going back to how they used to be.

Canada's big wireless companies spend nearly $9B on new 5G spectrum
wireless cellphone iphone mask pandemic

The federal government raised $8.9 billion in a licence auction for a key band of 5G wireless spectrum in results announced after the close of markets Thursday.

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® 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 either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.