BC Home Sales Continue on Upward Trend
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The British Columbia Real Estate Association (BCREA) reports that BC home sales are continuing on an upward trend.
Residential home sales in BC were up 5.6% from June 2012, and the sales dollar volume was 11.9% higher. As well, the average MLS residential price in the province was up 6% from one year ago.
From May 2013, “BC homes sales rose 6.7%…and since February home sales across the province have climbed by 23%, on a seasonally adjusted basis,” says Cameron Muir, BCREA Chief Economist.
MLS residential sales have climbed 15% in the second quarter, and the inventory of homes on the market has moved down 5%, creating improved market conditions in many areas.
The real estate market is changing, and the time to buy is now. Positive news from the BCREA and steady mortgage rates mean you should secure your home, as favourable buying conditions like this will not last! Sales and prices are going up and inventory is shrinking.
The British Columbia Real Estate Association (BCREA) reports that a total of 7,196 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC in the month of June, up 5.6 per cent from June of 2012. Total sales dollar volume was 11.9 per cent higher at $3.84 billion. The average MLS® residential price in the province was $533,219, up 6 per cent from a year ago.
“BC home sales rose 6.7 per cent from May, on a seasonally adjusted basis, with June being the fourth consecutive month of increasing sales activity,” said Cameron Muir, BCREA Chief Economist. “Since February, home sales across the province have climbed by 23 per cent, on a seasonally adjusted basis,” added Muir.
On a quarterly basis, MLS® residential sales climbed 15 per cent in the second quarter, while the inventory of homes for sale has moved down 5 per cent over the last two quarters, creating improved market conditions in many regions of the province.
Year-to-date, BC residential sales dollar volume was down 8.2 per cent to $18.8 billion, compared to the same period last year. Residential unit sales were down 7.8 per cent to 35,336 units, while the average MLS® residential price was down 0.4 per cent at $531,401.