Cell (604) 727-5385 | graham@grahamhiggins.com

  Mortgage Calculator

Calculate Your Payments

  Buyer Resources

Best Real Estate Advice

  Seller Resources

Selling For Top Dollar

  Mobile Listings

Search Anywhere Always

  Here To Help You

You Can Contact Me Always

Elevated Home Sales Point to Strong Consumer Confidence

 

Vancouver, BC – August 13, 2015. TheBritish Columbia Real Estate Association (BCREA) reports that a total of 10,247 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in July, up 20.7 per cent from the same month last year. Total sales dollar volume was $6.2 billion, a 33.9 per cent increase in comparison to the previous year. The average MLS® residential price in the province rose to $608,294, an 11 per cent increase since last July.

“Consumer confidence is brimming in the fastest growing economy in the country,” said Cameron Muir, BCREA Chief Economist. “Broad-based consumer demand continues to push BC home sales higher in every region except the more resource dependent northern markets.”

“Tighter market conditions are driving home prices higher as supply struggles to keep up with demand,” added Muir.  The Fraser Valley experienced the strongest average price growth, climbing 13.5 per cent year-over-year to $571,700 on the strength of strong demand in the single-detached market. 

The year-to-date, BC residential sales dollar volume increased 36.4 per cent to $38.8 billion, when compared with the same period in 2014. Residential unit sales climbed by 22.7 per cent to 61,806 units, while the average MLS® residential price rose 11.1 per cent to $628,025.

Comments:
No comments

Post Your Comment:

* indicates required fields.
Your Name: *
Please note, your email will not be shown publicly
Your Email (will not be published): *
Comment: *
Please type the text as it appears above:
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.