B.C.’s housing market is showing signs of stabilizing, despite slower-than-normal activity, a provincial real estate association says.<\/p>\n
B.C. Real Estate Association released its latest report Tuesday, showing home sales dropped by 40 per cent last month compared to August 2021.<\/p>\n
“Housing activity across the province remains well below normal but is showing signs of stabilizing,” said BREA’s chief economist, Brendon Ogmundson, in a news release.<\/p>\n
“While inventory is up over last year, active listings have somewhat stalled at relatively low levels in most major markets and as a result we are seeing a healthier balance compared to last year.”<\/p>\n
The average price for homes in B.C. in August was a little over $918,000, BCREA’s data showed. That marked a 2.1 per cent increase from August 2021’s average of just over $899,000.<\/p>\n
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