Home Sales Surge in Interior/North

Vancouver, BC – May 15, 2012. The British Columbia Real Estate Association (BCREA) reports that the dollar volume of homes sold through Multiple Listing Service® (MLS®) in BC declined 12.5 per cent to $3.8 billion in April compared to the same month last year. A total of 7,058 MLS® residential unit sales were recorded over the same period, down 1.8 per cent from April 2011. The average MLS® residential price was $532,855, 10.9 per cent lower than a year ago.

"A ten per cent dip in Lower Mainland home sales offset a 14 per cent increase across the rest of the province,” said Cameron Muir, BCREA Chief Economist. “Kamloops, the Okanagan and the North all posted double-digit increases in home sales in April compared to levels one year ago."

"The share of provincial sales garnered by Vancouver and the Fraser Valley declined from 65 per cent in April 2011 to 60 per cent last month,” added Muir. “A larger proportion of homes sold in less expensive regions contributed to the average BC sales price dipping nearly 11 per cent."

Year-to-date, BC residential sales dollar volume declined 15.8 per cent to $15 billion, compared to the same period last year. Residential unit sales dipped 9.7 per cent to 23,782 units, while the average MLS® residential price was 6.8 per cent lower at $546,870.

For more information, please contact: 

Cameron Muir	Damian Stathonikos
Chief Economist	Director of Communications and Public Affairs
Direct: 604.742.2780	Direct: 604.742.2793
Mobile: 778.229.1884	Mobile: 778.990.1320
Email: cmuir@bcrea.bc.ca	Email: dstathonikos@bcrea.bc.ca

BCREA represents 11 member real estate boards and their approximately 18,000 REALTORS® on all provincial issues, providing an extensive communications network, standard forms, economic research and analysis, government relations, applied practice courses and continuing professional education (cpe).

To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.

For detailed statistical information, contact your local real estate board. MLS® is a cooperative marketing system used only by Canada's real estate boards to ensure maximum exposure of properties listed for sale.

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