BC Provincial Real Estate News

Gold Medal February

According to the British Columbia Real Estate association “residential sales in the province climbed 63 per cent to 5,955 units in February compared to the same month last year.”

More Medals than Expected

“Home sales continued to moderate in February after the record pace of the fourth quarter.” said Cameron Muir, BCREA Chief Economist. “However, February’s performance was better than expected considering many households were preoccupied with Olympic gold.”

Prices Up

“The average MLS® residential price climbed 17 per cent to $497,807 over the same period.”


Full Report

*Disclaimer: Quotes and Statistics Courtesy BCREA. While believed to be accurate they are not guaranteed.

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*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

Reader Comments:

1 Says:
March 11th, 2010 at 12:29 pm

Larry

What is your prediction for how the #’s will look for the month of March – will it likely show a significant deterioration (first one in a year), or will the cracks not be visible.

davers Says:
March 11th, 2010 at 3:31 pm

In typical RE board fashion they fail to mention that it was still the second lowest in the past 9 years.

They even put the graph right there and are trumpeting how great the month was.

Early 09 was dismal for Vancouver RE and that is what they use as a comparison. Its like saying “Man today was better than yesterday” but yesterday you got in a car accident. It really isnt saying much.

That being said I would expect this month to be lower than usual because of the olympics, so it really isnt bad, I just hate the way they try to spin it.

March 11th, 2010 at 3:41 pm

@davers
– spinning clarity –
This dispatch was from the British Columbia Real Estate Association.
The Real Estate Board of Greater Vancouver puts out its own spin.
– LOL!! day after car crash is what we Realtor types deal with all the time.

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