September 14, 2011.
The British Columbia Real Estate Association (BCREA) reports that MLS® residential unit sales in the BC rose 16.4 per cent to 6,504 units This August compared to August of last year.
"BC home sales edged up one per cent in August compared to July on a seasonally adjusted basis," said Cameron Muir, BCREA Chief Economist. "Low mortgage interest rates continued to underpin housing demand in the province last month."
"Total active listings in the province remained elevated in August," added Muir. "Most regional markets exhibited buyer’s market conditions, meaning little upward pressure on home prices."