The British Columbia Real Estate Association has reported that a total of 5,831 residential unit sales were recorded by MLS last month, that is up 33.2 per cent from January of last year. Total sales dollar volume was $4.39 billion in January, up 69.1 per cent compared to the previous year.
The average MLS
residential price in the province of BC was up 26.9 per cent
year-over-year, to $752,906. The BC housing market is continuing to
build on momentum from a very strong 2015 with the majority of it coming
from Vancouver. Heightened demand is being met with the lowest level of
supply in a decade, resulting in increased pressure on prices in much
of the province.
The housing market has seen a
roaring start to 2016, with housing demand supported by low mortgage
rates and rising employment and wage growth in the province. However,
MLS residential sales are forecast to edge lower this year. Total MLS
sales last year were the third highest on record at 102,517. A record
106,310 residential unit sales were recorded in 2005, while the only
other year passing 2016 was 2007 when 102,805 unit sales were recorded.
No comments:
Post a Comment