B.C. real estate market notches downward amid climbing interest rates, association says

British Columbia's real estate market saw a slight increase in sales and prices in October compared to the previous year. The market is described as balanced, with a 1.8% increase in residential unit sales and a 4.1% rise in prices. The high borrowing costs and stricter stress tests for buyers have slowed down home sales as expected. However, the low inventory of homes has kept the market activity at a very low level. Overall, residential sales for the first 10 months of the year were down 13.6% compared to the previous year. The average price also fell by 3.4% to $971,802.

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