For the complete news release, including detailed statistics, follow this link: www.bcrea.bc.ca/news_room/2009-12.pdf.
For immediate release
December Home Sales Second Highest on Record
2009 – In Like a Lamb, Out Like a Lion
Vancouver, BC – January 12, 2010. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 132 per cent to 5,703 units in December compared to the same month last year. More homes were sold last month than in any December on record except 1989 when 6,014 units were sold.
A total of 85,028 residential units were sold through the MLS® in 2009, up 23 per cent from 68,923 units in 2008. The residential sales dollar volume increased 26 per cent to $39.6 billion last year, while the average MLS® residential price increased 2 per cent to $465,725.
"Considerable momentum in the housing market is expected to carry through the first quarter of 2010, before home sales begin to moderate as a result of eroding affordability and less pent-up demand,” added Muir.