B.C. real estate market notches downward amid climbing interest rates, association says
British Columbia real estate sales and prices bumped up slightly in October compared with a year ago in what is being described as a balanced market.
Figures from the B.C. Real Estate Association show 5,373 residential units sold last month, a 1.8-per-cent increase from the same month last year, while prices rose by 4.1 per cent over the same period.
The association’s chief economist Brendon Ogmundson says home sales have slowed as expected given the high borrowing costs and stricter stress tests for buyers.
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