The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 43 per cent to 7,110 units in March compared to the same month last year.
On a seasonally adjusted basis, MLS® residential unit sales in the province increased 6 per cent compared to February 2010. However, home sales in March were 20 per cent lower than December 2009 on a seasonally adjusted basis.
"Home sales have moderated since the beginning of the year," said Cameron Muir, BCREA Chief Economist. Waning pent-up demand and eroding affordability were key factors in the market. "Despite an improving provincial economy, higher mortgage interest rates and tighter credit conditions for low-equity homebuyers and investors will squeeze some prospective buyers out of the market this spring," added Muir.
The BC residential sales dollar volume increased 95 per cent to $9.22 billion in the first quarter of 2010 compared to the same period last year. Residential units sales rose 64 per cent to 18,284 units, while the average MLS® residential price climbed 19 per cent to $504,312 over the same period.
For the complete news release, including detailed statistics, follow this link: here.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), 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 GVR, 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 GVR, the FVREB or the CADREB.
Comments:
Post Your Comment: