B.C. home sales reversed course in September following three consecutive monthly increases.

MLS sales fell three per cent month over month to a seasonally adjusted 5,820 units but was level from a year ago. Economic headwinds and persistent affordability challenges remain an anchor on market conditions.

At the real estate board level, sales decreased in most regions. Sales fell in Greater Vancouver by 6.8 per cent, driving the provincial downturn in September. In Chilliwack, sales declined by 5.9 per cent and fell on Vancouver Island (excluding Victoria) by four per cent. South Okanagan sales also decreased by 10 per cent. Monthly sales can swing widely, but sales patterns across the province have been mixed. The Lower Mainland-Southwest is experiencing tempered market conditions while sales growth is relatively positive in the Okanagan region. The impact of economic conditions is evident in expensive markets like B.C. given significantly higher mortgage payments, and higher default........

© Castanet