Great News – October Posts Strongest Home Sales In BC Since 2009

Sold Prudential Home Great News – BC Home Sales Post Strongest October Since 2009

Vancouver, BC – November 15, 2013.  The British Columbia Real Estate Association (BCREA) has announced that BC homes sales in October were up 26.5% compared to October 2012, with a total of 6,673 residential sales recorded by the Multiple Listing Service.  Total sales dollar volume was $3.6 billion, which is a 34.5% increase compared to a year ago. The average sales price for homes in BC also increased to $540,432, which is 6.3% higher than October 2012.

The Chief Economist for BCREA Cameron Muir, commented on the recent report:

“The fall housing market is shaping up to be the most active in four years.””Persistently low mortgage interest rates and an element of pent-up demand have driven home sales higher in the province’s large Lower Mainland and Vancouver Island markets.””While the rebound in consumer demand has been significant, home sales are trending near the long-term average and any continued acceleration will depend on stronger economic and employment growth,” added Muir.

 

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