Housing Sales Climbing Across Province

Monday, July 13, 2009 09:39 AM

The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province rose 40 per cent to 9,970 units in June 2009 compared to the same month last year.

Activity in the month of June marked the fifth consecutive month of rising sales and the highest level of activity since January 2008, on a seasonally adjusted basis.

"Housing markets around BC continued to post higher sales in June, fuelled by attractive mortgage rates and lower prices,” said Bryan Yu, BCREA Economist. “The larger urban regions of Greater Vancouver and Victoria exhibited balanced market conditions in June, while others have recorded improved market stability. Stronger demand and a decline in home listings are stabilizing home prices in many BC markets."

Year-to-date, MLS® residential sales dollar volume was down 20 per cent to $16.3 billion over the same period last year. A total of 36,329 units were sold in the first six months of 2009, down 15 per cent from 2008, while the average MLS® price declined 5 per cent to $448,381.

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Posted on Monday, July 13, 2009 09:39 AM in News by 250 News

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Comments

Posted by: Andyfreeze on July 13 2009 11:49 AM

I notice these figures once again come from the BCREA.
hmmm.....

Posted by: gus on July 13 2009 1:59 PM

Do we have an independent agency which has access to a separate dataset which would provide information about the same activity?

Posted by: camoose on July 13 2009 7:40 PM

Be careful. Don't get caught in the stampede of all those people rushing out to buy houses.

Posted by: DPJ on July 14 2009 12:29 AM

I have noticed more sold signs in the last few weeks while doing deliveries. Good sign (with the odd hiring signs in windows)

Posted by: Eagleone on July 14 2009 1:51 AM

Gus the property transfer office should have all that data, but they don't share it. I got fined $8000 from them a few months back (for buying a house), because they wouldn't share their data with my lawyer until after I bought my house. The day I moved in I got my special mail delivery from them. All the data is in their computers, but if they share it then they can't collect the penalty fines, so they refuse to share the data with the public until after the fact. I'm arguing with them about that currently... its bloody ridiculous.

Posted by: Eagleone on July 15 2009 3:54 AM

Giving too much info again... :)