The Strongest April for Home Sales in a Decade
Last month was the strongest April for home sales in B.C. in a decade, with 9,952 residential unit sales recorded on MLS, up by 28.7% from the same month last year. Total sales dollar volume was $6.3B, a 45.5% spike from the previous year, according to new numbers from the BC Real Estate Association. Chief economist Cameron Muir noted elevated buying activity this spring is expected to push 2015 home sales to their highest level since 2007, driven by “rock bottom” interest rates. The average home price in B.C. rose to $634,744, up 13% from last April, owing to dwindling inventories of, and stiff competition for, detached homes.