BC Home Sales Continue on Upward Trend

Vancouver, BC – July 16, 2013.

The British Columbia Real Estate Association (BCREA) reports that a total of 7,196 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC in the month of June, up 5.6 per cent from June of 2012. Total sales dollar volume was 11.9 per cent higher at $3.84 billion. The average MLS® residential price in the province was $533,219, up 6 per cent from a year ago.

"BC home sales rose 6.7 per cent from May, on a seasonally adjusted basis, with June being the fourth consecutive month of increasing sales activity," said Cameron Muir, BCREA Chief Economist. "Since February, home sales across the province have climbed by 23 per cent, on a seasonally adjusted basis," added Muir.

On a quarterly basis, MLS® residential sales climbed 15 per cent in the second quarter, while the inventory of homes for sale has moved down 5 per cent over the last two quarters, creating improved market conditions in many regions of the province.

Year-to-date, BC residential sales dollar volume was down 8.2 per cent to $18.8 billion, compared to the same period last year. Residential unit sales were down 7.8 per cent to 35,336 units, while the average MLS® residential price was down 0.4 per cent at $531,401.

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