The British Columbia Real Estate Association (BCREA) reports that a total of 5,578 residential sales were recorded by the Multiple Listing Service (MLS) in February, up 24.9 per cent from February 2013. Total sales dollar volume was $3.4 billion, an increase of 43.1 per cent compared to a year ago. The average MLS residential price in the province rose to $611,688, up 15.4 per cent from the same period last year.
鈥淐onsumer demand was much stronger in February compared to a year ago, but edged lower compared to January,鈥� said Cameron Muir, BCREA chief economist. 鈥淲eak employment growth in 2013 has limited home sales so far this year to long-term average levels.鈥�
鈥淩ecord low mortgage interest rates and population growth continue to underpin the housing market and most regions of the province are at or near balanced market conditions,鈥� added Muir.
Year-to-date, BC residential sales dollar volume was up 10.1 per cent to $36.7 billion, compared to the same period last year. Residential unit sales were up 6 per cent to 68,510 units, while the average MLS庐 residential price was up 3.8 per cent at $535,411.
