Lower Mainland housing market gains ground as B.C. exports retreat

The Lower Mainland housing market showed slight improvement in August with 2,741 sales, a 3.6% year-over-year decline but a 6.6% seasonally adjusted increase. Average prices were stable at $1.129 million, down 2.3% from last year. The market remains a buyers' market with high inventory and low demand due to fewer newcomers and economic uncertainties. B.C. exports fell 13.6% month-over-month in July, driven by declines in metal ores and forestry products, while imports rose 16%. Exports to the U.S. decreased, with China’s share rising.