Home sales in B.C. hit a new record in March, as housing demand soars in most urban centres in the province, according to the British Columbia Real Estate Association.
The association reported Friday that there were 12,560 residential unit sales last month on the MLS, up 38 per cent from March of last year.
Home sales last month eclipsed the previous record of 11,683 sales in May of 2007, the association said, adding that sales were up $9.69 billion, or 66.9 per cent compared to the previous year.
The average MLS residential price in B.C. was up 20.2 per cent year-over-year, to $771,620.
The association’s chief economist Cameron Muir said, in a statement Friday, that employment growth, rising wages and a marked increase in net inter-provincial migration is fuelling consumer confidence.
In Metro Vancouver, 5,301 units sold last month, up 28.3 per cent over last March. The average price of a home in the region jumped 22.6 per cent to $1,093,267.
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