The British Columbia Real Estate Association (BCREA) reported yesterday that residential unit sales in B.C. remained relatively unchanged in November compared with last year.
A total of 5,640 units were sold last month compared with 5,647 in November 2010.
The average residential price was up 1.1% to $529,140 in November compared withthe same month last year.
“B.C. home sales continued to gain ground in November,” said Cameron Muir, BCREA chief economist.
“After waning during the first half of the year, consumer demand has steadily increased since the summer months, bringing home sales within seven units of the November 2010 level.”
“Low mortgage interest rates remain a key driver in the housing market, helping to maintain affordability and purchasing power,” added Muir.
Year-to-date, B.C. residential sales dollar volume increased 15.5% to $41 billion compared with the same period last year.
Residential unit sales increased 3.2% to 72,632 units, while the average residential price rose 11.9% to $563,991 over the same period.
Jennifer Harrison
@JHarrisonBIV