BC Recovering from 2012 Slowdown

Posted by Brent Pay - Century 21 Assurance Realty Ltd. - Kelowna, BC

The British Columbia Real Estate Association [BCREA] reports that a total of 7,664 sales were recorded by the MLS in BC during the month of May [2013], down 0.7 pct from May 2012.  Total $ sales volume was 2% higher at $4.1 B. The average MLS residential price in the province was $534,013 - up 2.7% from a year ago.

"BC homes sales continued to trend higher in May" said Cameron Muir,  BCREA Chief Economist. "In contrast to slowing demand and moderating prices in 2012, the BC housing market is turning around". "Rising consumer demand combined with inventory levels that remain in check has moved the provinces larges markets into balanced territory".

Posted by Brent Pay, June 15, 2013

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