The British Columbia Real Estate Association (BCREA)
reports that a record 12,969 residential unit sales were recorded by the Multiple
Listing Service® (MLS®) in April, up 30.3 per cent from the same month last
year. Home sales last month beat March’s record of 12,560 units. Total sales
dollar volume was $9.64 billion in April, up 52.7 per cent compared to the
previous year. The average MLS® residential price in the province was up 17.2
per cent year-over-year, to $743,640.
“Housing demand is exceptionally strong across the
southern regions of the province,” said Cameron Muir, BCREA Chief Economist.
“Consumers appear to be particularly active in the Vancouver Island, the Fraser
Valley and the Thompson/Okanagan regions.“
“Strong employment growth is helping underpin consumer
confidence,” added Muir. The BC economy employed more than 78,000 additional
workers during the first four months of the year, an increase of 3.5 per cent
compared to the same period last year.
The year-to-date, BC residential sales dollar volume
increased 64.3 per cent to $31.2 billion, when compared with the same period in
2015. Residential unit sales climbed by 36.2 per cent to 28,028 units, while
the average MLS® residential price was up 20.6 per cent to $761,860.
Copyright BCREA - reprinted with permission
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