BC home sales hit new record

Home sales in British Columbia hit a new record in December. The BC Real Estate Association reports that there were 6,590 homes were sold in the month through its MLS system, up almost 30 per cent year-over-year while total dollar volume hit a record $4.62 billion, an increase of 55.4 per cent from the previous December.

"The 2015 housing market finished in dramatic fashion, with record demand for the month of December," said Cameron Muir, BCREA Chief Economist. "BC home sales breeched the 100,000 unit threshold in 2015, and it was only the third time on record that this high watermark was achieved."

The average price in the province climbed above $700,000 for the first time in December, up 19.7 per cent from a year earlier.

Total dollar volume for 2015 was up almost 37 per cent from 2014 at $65.3 billion.

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