Housing Sales Rise to Nearly 14% in July

Sales rose nearly 14 per cent from June to a seasonally adjusted 6,650 units.

Why?
The decline in mortgage rates and lower home prices likely helped to persuade more buyers to enter the market. A tight labour market and a net gain in people moving to BC also increase demand. The mortgage stress test is a constraint which buyers seem to be adjusting to by increasing their down payments and/or delaying their purchases.

Reference: https://biv.com/article/2019/08/bc-housing-sales-rise-close-14-july