20 Nov Housing market ‘normalization’ continues in BC
The housing market in British Columbia has seen tough times since the introduction of the mortgage stress tests and other market-cooling measures.
But there are continued signs that the market is returning to more normal conditions according to stats from the British Columbia Real Estate Association.
Home sales in BC in October gained 19.3% year-over-year with a total of 7,666 residential unit sales were recorded by the MLS.
Meanwhile, prices were heading upwards with the average MLS® residential price in the province rising 5.1% year-over-year to $724,045, while total sales dollar volume was $5.55 billion, a 25.4% increase from the same month last year.