Colin Blair

404-251 Trans-Canada Hwy NW Salmon Arm, BC V1E 3B8
Cell: 250-253-7280
Fax: 250-832-7573
Toll-Free: 1-800-890-9166
Work Phone: 250-832-7871
Email Colin

Strongest October in over 4 Years


BC Home Sales Post Strongest October in Four Years Vancouver, BC – November 15, 2013. The British Columbia Real Estate Association (BCREA) reports that a total of 6,673 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC during October, up 26.5 per cent from October 2012. Total sales dollar volume was 34.5 per cent higher than a year ago at $3.6 billion. The average MLS® residential price in the province was $540,432, up 6.3 per cent from October 2012. "The fall housing market is shaping up to be the most active in four years,” said Cameron Muir, BCREA Chief Economist. “Persistently low mortgage interest rates and an element of pent-up demand have driven home sales higher in the province’s large Lower Mainland and Vancouver Island markets." "While the rebound in consumer demand has been significant, home sales are trending near the long-term average and any continued acceleration will depend on stronger economic and employment growth,” added Muir. Year-to-date, BC residential sales dollar volume was up 8.2 per cent to $33.6 billion, compared to the same period last year. Residential unit sales were up 5.1 per cent to 63,020 units, while the average MLS® residential price was up 2.9 per cent at $533,321. -30- For more information, please contact: Cameron Muir Damian Stathonikos Chief Economist Director of Communications and Public Affairs Direct: 604.742.2780 Direct: 604.742.2793 Mobile: 778.229.1884 Mobile: 778.990.1320 Email: cmuir@bcrea.bc.ca Email: dstathonikos@bcrea.bc.ca BCREA represents 11 member real estate boards and their approximately 18,500 REALTORS® on all provincial issues, providing an extensive communications network, standard forms, economic research and analysis, government relations, applied practice courses and continuing professional education. To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods. For detailed statistical information, contact your local real estate board. MLS® is a cooperative marketing system used only by Canada's real estate boards to ensure maximum exposure of properties listed for sale.