| BC Home Sales Continue at Brisk Pace |
Vancouver, BC – June 15, 2015. The British Columbia Real Estate Association (BCREA) reports
that a total of 10,174 residential unit sales were recorded by the Multiple Listing Service®
(MLS®) in May, up 16.6 per cent from the same month last year. Total sales dollar volume was
$6.4 billion, a 30.4 per cent increase in comparison to the previous year. The average MLS®
residential price in the province rose to $632,182, an 11.8 per cent increase since last May.
"Home sales for the month were at an eight year
high for the month of May," said Cameron Muir,
BCREA Chief Economist. "Strong consumer
demand is pushing home sales up in most of the
large urban areas of the province."
"A dwindling inventory of homes for sale in the
face of strong demand is putting upward pressure
on home prices in many regions, with the singledetached
market segment experiencing most of
the gains. We haven't experienced inventories this
low since prior to the financial crisis," added Muir.
Year-to-date, BC residential sales dollar volume increased 35.5 per cent to $25.5 billion, when
compared with the same period in 2014. Residential unit sales climbed by 22.4 per cent to
40,265 units, while the average MLS® residential price rose 10.5 per cent to $631,941.
For more information, please contact:
|Cameron Muir |
|Chief Economist |
|Direct: 604.742.2780 |
|Mobile: 778.229.1884 |
|Email: [email protected] |
The British Columbia Real Estate Association (BCREA) is the professional association for over 19,000 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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