The following extract is the latest confirmation that BC's housing market has
re-bounded from the declines of 2011/12.
The British Columbia Real Estate Association (BCREA) reports that a total of 6,673 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC during October, up 26.5% from October 2012.
Total sales dollar volume was 34.5% higher than a year ago at $3.6 Billion. The average MLS® residential price in the province was $540,432, up 6.3% from October 2012. "The fall housing market is shaping up to be the most active in four years" said Cameron Muir, BCREA Chief Economist. "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.
Footnote: Trevor Barnett, one of Richmond's most senior and successful REALTORS®, welcomes your comments and looks forward to being of service to you in the future.
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