Vancouver, BC – March 11, 2010.
The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 63 per cent to 5,955 units in February compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province declined 13 per cent compared to January 2010.
The BC residential sales dollar volume increased 91 per cent to $2.96 billion in February compared to the same period last year. The average MLS® residential price climbed 17 per cent to $497,807 over the same period.
"Low mortgage interest rates are continuing to underpin consumer demand and fuel first-time homebuyer activity,” added Muir. “Improving economic conditions are expected to bolster consumer confidence over the coming months.”
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