B.C.’s housing market deteriorated again in April with a fifth consecutive month of lower sales. According to Canadian Real Estate Association data, seasonally adjusted MLS home sales in the province fell 2.3 per cent from March to 5,331 units, following a 5.9-per-cent dip in the prior month. Although the economy held firm in April with steady employment, consumers are still pessimistic as trade tensions linger and the labour market weakens.

Home sales declined in all B.C. regions except for South Okanagan and Vancouver Island (excluding Victoria). In the Greater Vancouver area, home sales declined by 3.3 per cent, and fell 4.8 per cent in Victoria. Year-over-year sales fell in many areas as well, notably in Greater Vancouver (down 21.1 per cent) and Chilliwack (down 18.3 per cent).

The average home price in B.C.........

© BIV