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May Home Sales is the Highest since recession

 

May Home Sales jumped to 13.9% in B.C., it was the biggest increase in a number of months since the 2008 recession.  The B.C. Real Estate Board Association mentioned that there were 8,729 home sales last month which makes a total of $4.9 billion dollar which is said to be an increase of 20.6% compared to May of 2013.

It also mentioned that  there was an increase of 5.8% to the average price of home from last year, the new home average rose now to $565,233.  Sales in Greater Vancouver also were at par with the rest of the province, also rose to 13.4%.  More increase in sales percentage wise on Chiliwack and Fraser Valley which were 21.9% and 19.7% respectively. It was also the strongest home sales since 2007 where 8,700 homes were sold, although it is still fall short in comparison with 11,000 sales in May prior to recession times in 2006 and 2007.

The 2008 financal crisis brought deep impacts on the global housing market and B.C. Homes sales had fallen significantly during those times in May 2008.

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), 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 REBGV, 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 REBGV, the FVREB or the CADREB.

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