Strongest May for Home Sales Since 2007 |
Vancouver, BC – June 13, 2014. The British Columbia Real Estate Association (BCREA) reports
that a total of 8,729 residential sales were recorded by the Multiple Listing Service® (MLS®) in
May, up 13.9 per cent from May 2013. Total sales dollar volume was $4.9 billion, an increase of
20.6 per cent compared to a year ago. The average MLS® residential price in the province rose
to $565,233, up 5.8 per cent from the same
month last year.
“Consumer demand was noticeably stronger last
month, with unit sales posting their highest level
for the month of May since 2007,” said Cameron
Muir, BCREA Chief Economist. “Rock bottom
mortgage rates are inducing many would-be
home buyers to enter the market this spring.”
“With most BC markets now in balanced
conditions, home prices are up in nine of 11
board areas,” added Muir.
During the first five months of the year, BC
residential sales dollar volume was up nearly 26 per cent to $18.8 billion, compared to the same
period last year. Residential unit sales were up almost 17 per cent to 32,894 units, while the
average MLS® residential price was up 7.7 per cent at $571,648.
For more information, please contact:
|Cameron Muir ||Damian Stathonikos |
|Chief Economist ||Director of Communications and Public Affairs |
|Direct: 604.742.2780 ||Direct: 604.742.2793 |
|Mobile: 778.229.1884 ||Mobile: 778.990.1320 |
|Email: [email protected] ||Email: [email protected] |
The British Columbia Real Estate Association (BCREA) is the professional association for more than 18,500 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients.
To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better 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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