“I believe the fall Vancouver Real Estate Market is shaping up to be busier than most people expect. With our great interest rates, recent low sales volume in June & July, in addition to the current reduction of new listings coming onto the market and more buyers beginning to look for their home, I expect that the fall market will be busy.- Roland Kym- REMAX.”
Home Buyers in the Driver’s Seat
Vancouver, BC – August 12, 2010. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province declined 42 per cent to 5,784 units in July compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province declined 19 per cent in July from June 2010. The average MLS® residential price climbed 6 per cent to $491,832 in July compared to the same month last year.
“A relatively large number of homes for sale have created the most favourable supply conditions for home buyers in more than a year,” said Cameron Muir, BCREA Chief Economist. MLS® active residential listings were 21 per cent higher in July than at the start of the year on a seasonally adjusted basis. However, with newly listed MLS® residential units now declining, tighter market conditions may emerge this fall.
Year-to-date, BC residential sales dollar volume increased 16 per cent to $24.2 billion, compared to the same period last year. Residential unit sales rose 4 per cent to 48,127 year-to-date, while the average MLS® residential price climbed 13 per cent to $504,281 over the same period.
For the complete news release, including detailed statistics follow this link: www.bcrea.bc.ca/news_room/2010-07.pdf.
No comments:
Post a Comment