Housing Market Ends Year in Balanced Conditions
Housing Market Ends Year in Balanced Conditions
Vancouver, BC – December 12, 2014. The British Columbia Real Estate Association (BCREA)
reports that a total of 5,972 residential unit sales were recorded by the Multiple Listing Service®
(MLS®) in November, up 8.8 per cent from November 2013. Total sales dollar volume was $3.4
illion, an increase of 12.1 per cent compared to a year ago. The average MLS® residential price
in the province rose to $574,694, up 3.1 per cent from the same month last year.
“BC home sales were robust in November,” said Cameron Muir, BCREA Chief Economist. “Improving economic conditions, strong consumer confidence and persistently low mortgage interest rates are providing a solid foundation for elevated consumer demand."
“Market conditions have improved province wide, with most regional markets now in the mid to high range of a balanced market,” added Muir.
Year-to-date, BC residential sales dollar volume was up 22.1 per cent to $44.8 billion, compared to the same period last year. Residential unit sales were up 15.3 per cent to 78,973 units, while the average MLS® residential price was up 6.0 per cent at $567,292.
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For more information, please contact:
| Cameron Muir | Damian Stathonikos |
| Chief Economist | Director of Communications and Public Affairs |
| Direct: 604.742.2780 | Direct: 604.742.2793 |
| Mobile: 778.229.1884 | Mobile: 778.990.1320 |
| Email: cmuir@bcrea.bc.ca | Email: dstathonikos@bcrea.bc.ca |
The British Columbia Real Estate Association (BCREA) is the professional association for more than 18,500 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients.
To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.
For detailed statistical information, contact your local real estate board. MLS® is a cooperative marketing system used only by Canada's real estate boards to ensure maximum exposure of properties listed for sale.