Residential Unit Sales See Decrease

A total of 9,164 residential unit sales were recorded by the Multiple Listing Service (MLS) in September, a decrease of 19.9 per cent from September 2020, says the British Columbia Real Estate Association (BCREA). “Home sales have settled at levels that are slightly above long-term average," says chief economist Brendon Ogmundson, for BCREA. "The main story in all markets continues to be a severe lack of listings supply, particularly in Fraser Valley, Vancouver Island, and interior markets." Total active residential listings were down 36.8 per cent year-over-year in September for the province as a whole and were more than more than 50 per cent below last September's levels in the Fraser Valley and Victoria.