According to BCREA ( British Columbia Real Estate Association, the residential housing sales in B.C. were up by 28.6% in August. The Multiple Listing Service showed there were 6,863 residential homes sales happened last month in B.C. which came to a total of $3.66 billion. This is an increase of 39.7% from August of 2012 sales in dollar term.
Chief economist Cameron Muir noted that during 2012, a lot of home buyers stayed on the sidelines for almost the whole year due to fear of a housing market hard landing, but this year, it's the sense of urgency to lock in a mortgage at a low interest rate that cause a good summer home activity.
BCREA predicted that although mortgage is anticipated to rise, the impact on home sales will offset by the stronger economic conditions and the employment growth.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), 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 GVR, 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 GVR, the FVREB or the CADREB.
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