{"id":293,"date":"2016-06-20T15:44:59","date_gmt":"2016-06-20T19:44:59","guid":{"rendered":"http:\/\/www.juliafreeman.ca\/blog\/?p=293"},"modified":"2016-06-20T15:44:59","modified_gmt":"2016-06-20T19:44:59","slug":"record-home-sales-creates-wave-of-new-home-construction","status":"publish","type":"post","link":"https:\/\/www.juliafreeman.ca\/blog\/2016\/06\/record-home-sales-creates-wave-of-new-home-construction\/","title":{"rendered":"Record Home Sales Creates Wave of New Home Construction"},"content":{"rendered":"<div class=\"page\" title=\"Page 1\"><\/div>\n<p><strong>The British Columbia Real Estate Association (BCREA) reports that a record 13,458 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) in May, up 32.3 per cent from the same month last year.<\/strong> Home sales last month exceeded April\u2019s record of 12,969 units. Total sales dollar volume was $9.72 billion in May, up 51.1 per cent compared to the previous year. The average MLS\u00ae residential price in the province was up 14.2 per cent year-over-year, to $722,146.<\/p>\n<p>\u201cRecord housing demand and dwindling inventories are continuing to push home prices higher in most BC regions,\u201d said Cameron Muir, BCREA Chief Economist. \u201cTotal active residential listings across the province are nearly 30 per cent lower than twelve months ago.\u201d<\/p>\n<p><strong>\u201cNew home construction activity is at a near record pace in the province,\u201d added Muir. In the Metro Vancouver market, a record number of homes are now under construction. \u201cOnce the current crop of homes are ready for occupancy there will likely be more selection for home buyers and less upward pressure on home prices.\u201d<\/strong><\/p>\n<p>For the complete news release click <strong><a href=\"http:\/\/www.bcrea.bc.ca\/docs\/news-2016\/2016-05.pdf\" target=\"_blank\">here<\/a>.<\/strong><\/p>\n<p style=\"text-align: right;\">Credit BCREA<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The British Columbia Real Estate Association (BCREA) reports that a record 13,458 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) in May, up 32.3 per cent from &hellip; [<a href=\"https:\/\/www.juliafreeman.ca\/blog\/2016\/06\/record-home-sales-creates-wave-of-new-home-construction\/\">read more<\/a>]<\/p>\n","protected":false},"author":2,"featured_media":302,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"_links":{"self":[{"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts\/293"}],"collection":[{"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/comments?post=293"}],"version-history":[{"count":6,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts\/293\/revisions"}],"predecessor-version":[{"id":299,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts\/293\/revisions\/299"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/media\/302"}],"wp:attachment":[{"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/media?parent=293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/categories?post=293"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/tags?post=293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}