residential price in BC was $923,449, a 3.6% increase from $891,376 recorded in July 2021. Total sales dollar volume was $5.1 billion, a 40.3% decline from the same time last year.
As the pace of sales activity declines below normal levels, inventory is accumulating in BC. Provincial active listings rose 28% year over year, though from a very low level in July 2021. Inventories remain quite low, but the slow pace of sales has tipped some markets into balanced or even buyers’ market territory, says BCREA.
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