Saturday, November 28, 2009 October Home Sales Highest in Six Yearsby Violetta Joziak on Sat, Nov, 28, 2009 02:19 PM The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 115 per cent to 8,624 units in October compared to the same month last year. Last month posted the highest number of MLS® residential sales for the month of October since 2003, when 8,682 units changed hands. The average MLS® residential sales price in the province climbed 17 per cent to $493,328 from $420,259 in October 2008.
“BC homes sales continued on an upward trend in October,” said Cameron Muir, BCREA Chief Economist. “Despite a lackluster economy, low mortgage interest rates have induced many potential buyers into the market. However, the recent phenomenal pace of home sales is expected to moderate in the coming months as pent-up demand dissipates and eroding affordability begins to impact the purchasing power of households.” |
| |
Email