VANCOUVER - Home sales in B.C. remained stable in August as low mortgage rates was balanced by high numbers of active listings, the BCREA said Wednesday.
According to the latest data, B.C. saw 6,504 MLS residential unit sales last month, up 16.4% from August 2010. The average price also climbed 10.7 per cent to $539,953.
When compared to July, sales were up 1 per cent in August.
“Low mortgage interest rates continued to underpin housing demand in the province last month," said BCREA economist Cameron Muir in a statement. “… Most regional markets exhibited buyer’s market conditions, meaning little upward pressure on home prices."
To date, B.C. home sales value at $31.7 billion this year, up 17.7 per cent from 2010. The average price rose 14.7 per cent to $574,962 on the year.
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