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Home sales strong in May

Darpan News Desk The Canadian Press, 14 Jun, 2023 02:13 PM

The B-C Real Estate Association says home sales across the province last month were "surprisingly strong."

Association chief economist Brendon Ogmundson says, despite rising interest rates over the last year, home sales have "staged an early recovery" to return to a normal pace more quickly than expected.

A statement from the association says nearly 92-hundred sales were recorded around B-C in May -- up nearly 10 per cent year-over-year -- while the average price climbed three per cent during the same period, to just over one-million dollars.

The statement says it's the first time since April of last year that the average home price in B-C has topped the million-dollar mark.

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