Housing Market Activity Off to a Slow Start in 2023

The BC Real Estate Board (BCREA) is reporting that the housing market activity is off to a slow start in 2023. Here in Golden, it feels like things are picking back up in the last few weeks with a few new listings coming to market that have seen multiple competing offers.

The entire Kootenay Real Estate Board is showing an 11.4% decrease in home prices compared to this time last year.

BCREA states; “Provincial sales are off to a slow start in 2023 as activity continues to be weighed down by high borrowing costs,” said BCREA Chief Economist Brendon Ogmundson. “While average prices have flattened out in many markets over the past few months, year-over-year measures reflect the decline that occurred from the peak in 2022, as well as a marked shift in the composition of sales away from more expensive homes.”

For the full report from the BCREA click here.

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