For the complete news release, including detailed statistics, follow this link: www.bcrea.bc.ca/news_room/2010-02.pdf.
For immediate release
February Home Sales Strong Despite Olympic Fervor
Vancouver, BC – March 11, 2010. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 63 per cent to 5,955 units in February compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province declined 13 per cent compared to January 2010.
The BC residential sales dollar volume increased 91 per cent to $2.96 billion in February compared to the same period last year. The average MLS® residential price climbed 17 per cent to $497,807 over the same period.
"Low mortgage interest rates are continuing to underpin consumer demand and fuel first-time homebuyer activity,” added Muir. “Improving economic conditions are expected to bolster consumer confidence over the coming months.”