Home sales in B.C. down again in August amid ‘gradual recovery,’ association says

VANCOUVER — British Columbia home sales fell again in August on a year-to-year basis, although the real estate industry says a “gradual recovery” is underway.

The British Columbia Real Estate Association says there were 5,653 residential property sales last month on the Multiple Listing Service, a 4.7 per cent decrease from the same month last year.

The average home price in the province also fell to just under $925,000 from the same period last year.

Association chief economist Brendon Ogmundson says in a statement that home sales in B.C. have been steadily climbing since January when they dropped below 5,200, although they “remain well below long-term averages.”