"Home buyers were active and motivated throughout 2015 despite the pressure on supply of homes on the market," Darcy McLeod, REBGV president said. "Housing markets typically experience quieter periods within a calendar year, but that wasn't the case in Metro Vancouver last year."
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver ended the year at $760,900, up 18.9 per cent year-over-year.
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Home sales in Metro Vancouver reached a new record in 2015 with sales of detached, attached and apartments up 27.8 per cent from 2014 to hit 42,326. The Real Estate Board of Greater Vancouver says that the sales were the highest in its history even though inventory was under pressure.