Déjà Vu in November Housing Market
Vancouver, BC – December 14, 2011. The British Columbia Real Estate Association (BCREA)
reports that Multiple Listing Service® (MLS®) residential unit sales in the province remained
relatively unchanged in November compared to the same month last year. A total of 5,640 units
were sold last month compared to 5,647 units in November 2010. The average MLS® residential
price was up 1.1 per cent to $529,140 in November compared to the same month last year.
"BC home sales continued to gain ground in
November," said Cameron Muir, BCREA Chief
Economist. "After waning during the first half of
the year, consumer demand has steadily increased
since the summer months, bringing home sales
within seven units of the November 2010 level."
"Low mortgage interest rates remain a key driver
in the housing market, helping to maintain
affordability and purchasing power," added Muir.
Year-to-date, BC residential sales dollar volume
increased 15.5 per cent to $41 billion, compared to
the same period last year. Residential unit sales increased 3.2 per cent to 72,632 units, while the
average MLS® residential price rose 11.9 per cent to $563,991 over the same period.
-30- For more information, please contact:
Director of Communications and Public Affairs
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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