BCREA Housing Market Update for June 2015
BCREA Housing Market Update for June 2015. BC Real Estate Association (BCREA) Chief Economist Cameron Muir discusses the May 2015 statistics.
Author: Kirsten Mason
BC Home Sales Continue at Brisk Pace, BCREA
Vancouver, BC – June 15, 2015. The British Columbia Real Estate Association (BCREA) reports that a total of 10,174 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in May, up 16.6 per cent from the same month last year. Total sales dollar volume was $6.4 billion, a 30.4 per cent increase in comparison to the previous year. The average MLS® residential price in the province rose to $632,182, an 11.8 per cent increase since last May.
“Home sales for the month were at an eight year high for the month of May,” said Cameron Muir, BCREA Chief Economist. “Strong consumer demand is pushing home sales up in most of the large urban areas of the province.”
“A dwindling inventory of homes for sale in the face of strong demand is putting upward pressure on home prices in many regions, with the single-detached market segment experiencing most of the gains. We haven’t experienced inventories this low since prior to the financial crisis,” added Muir.
Year-to-date, BC residential sales dollar volume increased 35.5 per cent to $25.5 billion, when compared with the same period in 2014. Residential unit sales climbed by 22.4 per cent to 40,265 units, while the average MLS® residential price rose 10.5 per cent to $631,941.
Kamloops District Real Estate Associations Statistics For May 2015
Kamloops District Real Estate Associations Statistics For April 2015. Click image to enlarge.
Kamloops Real Estate Comparative analysis by property type May 2015
Kamloops Real Estate MLS Activity May 2015
Kamloops Real Estate Sales by subarea May 2015
Kamloops Real Estate Out of town Sales by Subarea May 2015
Out of town Sales by Subarea May 2015
Kamloops Housing Market ‘Surged’ During First Part of 2015, Infotel
This article appeared in the Infotel (Kamloops InfoNews.ca) on June 2nd, 2015 and was written by Dana Reynolds.
KAMLOOPS – With more houses being built and home-buyers spending more the Kamloops housing market is off to a very good start in 2015.
According to Canadian Mortgage and Housing Corporation single-unit housing starts in Kamloops ‘surged’ in the first three months of 2015. The report from the corporation shows every category of housing start grew during the first quarter, with the exception of rental apartments. The first quarter of 2015 saw just one rental unit built, compared to 88 in 2014.
The corporation notes there is a provincial trend towards multi-family dwellings and the trend is seen in Kamloops as well, where the number of starts on semi-detached homes tripled. Single-family homes almost doubled as well though, growing to 33 in the first quarter of 2015 from 19 during the same period in 2014.
The number of completions during the first quarter were up 76 per cent as well, with 92 more homes finished in quarter one of 2015 than in 2014.
The price of newly built homes during this time period averaged about $490,000, a more than $40,000 increase from the first quarter housing prices in 2014. Of the 69 single family homes sold in the first quarter of 2015, 68 per cent came in under $500,000. There have also been more people who have purchased houses in the $500,000 and up range so far this year, with 22 homes falling within that price range in the first quarter of 2015, compared to just 13 during the same time period last year.