B.C Real Estate News: Rising Gas/Food Prices Sideline Homebuyers
This was the headline of the British Columbia Real Estate Associations (BCREA) news release today. BCREA Chief Economist says “Rising fuel and food prices are impacting the housing market, as many potential homebuyers take a wait and see approach out of concern for their household budgets.” B.C. wide unit sales were down 31% (30.5% in Greater Vancouver) compared to last May, while prices were up 6% (5.6% in Greater Vancouver). Year-to-date sales are down 14.2%, while prices are up 9.9%.
The press release is attached below.
Matthew Collinge: Vancouver REALTOR®
