Home Sales Slow After Strong First Quarter
Vancouver, BC – May 12, 2011. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential unit sales in the province declined 14 per cent to 7,187 units in April compared to the same month last year. The average MLS® residential price climbed 16 per cent to $598,308 last month compared to April 2010.
"BC home sales edged lower in April as the result of home purchases that were pulled forward during the first quarter,” said Cameron Muir, BCREA Chief Economist. “The province’s housing markets continue to exhibit a two steps forward, one step back trajectory in tandem with economic and employment growth."
Year-to-date, BC residential sales dollar volume increased 14 per cent to $15.4 billion, compared to the same period last year. Residential unit sales edged back one per cent to 26,334 units, while the average MLS® residential price rose 15.5 per cent to $586,466 over the same period.
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BCREA represents 11 member real estate boards and their approximately 18,000 REALTORS® on all provincial issues, providing an extensive communications network, standard forms, economic research and analysis, government relations, applied practice courses and continuing professional education (cpe).
To demonstrate the profession’s commitment to improving Quality of Life in BC communities, BCREA supports policies that encourage economic vitality, provide housing opportunities, respect the environment and build communities with good schools and safe neighbourhoods.
For detailed statistical information, contact your local real estate board. MLS® is a cooperative marketing system used only by Canada’s real estate boards to ensure maximum exposure of properties listed for sale.
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