The British Columbia Real Estate Association (BCREA)
reports that a total of 5,490 residential sales were recorded by the Multiple
Listing Service® (MLS®) in BC during November, up 17.3 per cent from November
2012. Total sales dollar volume was 36 per cent higher than a year ago at $3.06
billion. The average MLS® residential price in the province was $557,586, up
15.9 per cent from November 2012.
"While home sales were up year-over-year, they eased
back from October as slow economic growth and anemic job creation negatively
impacted consumer demand,” said Cameron Muir, BCREA Chief Economist. “Low
mortgage rates, however, continue to remain accommodative to housing
demand."
"Average prices were skewed higher last month as the
composition of sales in Vancouver and the Fraser Valley tilted toward
single-detached homes,” added Muir. “The MLS® Home Price Index points to
relatively stable prices, with the year-over-year change up 1 per cent in
Vancouver and down 0.4 per cent in the Fraser Valley."
Year-to-date, BC residential sales dollar volume was up
10.1 per cent to $36.7 billion, compared to the same period last year.
Residential unit sales were up 6 per cent to 68,510 units, while the average
MLS® residential price was up 3.8 per cent at $535,411.
Copyright BCREA - reprinted with permission
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