"Housing demand has never been stronger in the province," said Cameron Muir, BCREA Chief Economist. "Most large population centres of the province are now experiencing record levels of housing demand."
However, listings are well behind demand with many parts of the province reporting their lowest inventory in a decade.
Year-to-date figures show a 70.1 per cent rise in sales in dollar terms to $21.59 billion with the average MLS price up 22.2 per cent to $770,408. Sales are up 39.2 per cent to 28,028 units.
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Sales of homes in British Columbia were up 38 per cent in March compared to a year earlier to hit a record 12,500 units sold through the MLS and it’s not just Vancouver that’s booming.