B.C.’s Lower Mainland housing market activity remained sluggish through August, even as activity edged up after adjusting for normal seasonal factors. Unadjusted total sales in the region spanning Metro Vancouver and the Fraser Valley reached 2,842 units. This was 3.2 per cent lower than a year ago and compared to a 3.2 per cent drop in July. Seasonally adjusted momentum remained positive following the spring downturn, but the market is undoubtedly slow with the fewest August sales since 2012. Fraser Valley real estate board sales were the lowest since 2008. Year-to-date, sales were down 13 per cent. At the current rate of sales, this is likely to be the fewest annual sales since 2008 and 2012.

Despite a regional economy that has shown resilience to the trade war on the back of household spending and solid employment growth, buyers remain hesitant.........

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