"Housing demand is exceptionally strong across the southern regions of the province,” Cameron Muir, BCREA Chief Economist, said in a release. “Consumers appear to be particularly active in the Vancouver Island, the Fraser Valley and the Thompson/Okanagan regions.”
“Strong employment growth is helping underpin consumer confidence.”
According to the British Columbia Real Estate Association (BCREA), a record 12,969 residential sales were reported in April – a 30.3% increase year-over-year.
Total sales reached $9.64 billion in April, a 52.7% hike. To date, sales volume increased 64.3% this year to $31.2 billion. Total residential sales increased 36.2% to 28,028 units.
The average price, meanwhile, increased 17.2% year-over-year, reaching $743,640.
The BC economy added 78,000 jobs this year, representing a 3.5% year-over-year increase in job creation.
“Strong employment growth is helping underpin consumer confidence,” Muir said.
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Investors continue to cash in, with this red hot market continuing to break records.