Home Sales Rise Outside Lower Mainland
Home Sales Rise Outside Lower Mainland
Vancouver, BC – February 15, 2012. The British Columbia Real Estate Association (BCREA)
reports that the dollar volume of homes sold through Multiple Listing Service® (MLS®) in BC
dipped 7.6 per cent to $2.1 billion in January compared to the same month last year. A total of
3,976 homes traded hands on the MLS® over the same period, down 3.9 per cent. The average
MLS® residential price was 3.8 per cent lower at
$527,219 compared to January 2011.
“Increased market activity outside the Lower
Mainland in January was offset by fewer sales in
Vancouver and the Fraser Valley,” said Cameron
Muir, BCREA Chief Economist. MLS®
Residential sales rose 7 per cent to 1,620 units
outside the Lower Mainland, while declining 10
per cent to 2,356 units in Vancouver and the
Fraser Valley.
“While provincial sales activity was down in
January from year ago levels, consumer demand
has posted modest improvement since last fall, driven by low mortgage interest rates and
gradually improving economic conditions,” added M