The British Columbia Real Estate Association (BCREA) reports that residential unit sales across the province were down by 26.2% compared to the same month last year. The average residential price in BC was down 4.1% from October 2017. Total sales volume showed a decline of 29.3% from October 2017. The BC housing market continues to grapple with tougher mortgage qualifications in October. However, more modest consumer demand has led to a much-needed increase in the supply of homes for sale, said Cameron Muir, BCREA Chief Economist (November 12, 2018).