B.C. housing sales continued to climb since plummeting to decade lows in the last year, according to B.C. Real Estate Association (BCREA) data released Monday.
Multiple listing service (MLS) sales rose 40% to 9,970 units in June 2009 compared with sales in the same month a year ago. Total volume sales rose to $4.6 billion from $3.3 billion. June sales marked the fifth consecutive month of rising sales and the highest activity since January 2008.
The BCREA said Metro Vancouver and Victoria exhibited balanced market conditions in June while others have recorded improved market stability. Stronger demand and a decline in home listings are stabilizing home prices in many markets in B.C.
Metro Vancouver sales jumped 64.1% in June to $2.5 billion from $1.5 billion. Almost 4,320 units were sold in the region. That's up 74.3% from 2,478 in June 2008.
Sales volume rose 34.4% in the Fraser Valley, 33.3% in Victoria, 27.8% in the South Okanagan and 13.1% in Kamloops to round out June's top five markets.
Year to date, MLS residential sales volumes were down 20% to $16.3 billion from $20.3 billion. A total of 36,329 units were sold in the first six months of 2009, down 15% from 42,907 units sold in 2008. The average MLS price fell 5% to $448.381.