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The British Columbia Real Estate Association (BCREA) reports
that during the first half of 2012, BC residential sales dollar volume declined 17.1 per cent to
$20.4 billion, compared to the same period last year. Residential unit sales dipped 9 per cent to
38,312 units, while the average Multiple Listing Service® (MLS®) residential price was 8.9 per
cent lower at $533,681.
“The pace of home sales slowed during the
first half of the year,” said Cameron Muir,
BCREA Chief Economist. “However, the
downturn is likely to be temporary as
population growth, persistently low
mortgage rates and encouraging
employment figures suggest a stronger
second half of 2012.”
“The 5-year conventional mortgage rate
The British Columbia Real Estate Association (BCREA) reports that during the first half of 2012, BC residential sales dollar volume declined 17.1 per cent to$20.4 billion, compared to the same period last year. Residential unit sales dipped 9 per cent to 38,312 units, while the average Multiple Listing Service® (MLS®) residential price was 8.9 percent lower at $533,681.“The pace of home sales slowed during the first half of the year,” said Cameron Muir,BCREA Chief Economist. “However, thedownturn is likely to be temporary as population growth, persistently lowmortgage rates and encouragingemployment figures suggest a stronger second half of 2012.