BC Home Sales Steady in June

Vancouver, BC - July 14, 2011. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential unit sales in the Kootenay area rose 7.4 per cent to 232 units in June compared to 216 units in the same month last year. The average MLS® residential price fell 14.7 per cent to $270,710 last month compared to $317,427 in June 2010.

"Home sales were relatively unchanged in June compared to last year," said Cameron Muir, BCREA Chief Economist. "However, low mortgage interest rates and an overdue pick-up in BC employment growth are expected to provide some incentive to consumers over the summer months."

Year-to-date, Kootenay area residential sales dollar volume decreased 21.9 per cent to $236 million, compared to $302 million in the same period last year. Residential unit sales (907) are down 15.9 per cent compared to the halfway point of 2010 (1,078), while the average MLS® residential price fell 7.2 per cent to $260,273 from $280,393 over the same period.

Read the complete report (pdf)