2006 BC MLS Sales Second HIghest on Record
|2006 BC MLS® Sales Second Highest On Record|
Thursday, January, 18, 2007
British Columbia Real Estate Association (BCREA) figures indicate the residential sales volume on the Multiple Listing Service® (MLS®) in BC reached $37.8 billion in 2006, up 7 per cent from 2005. MLS® home sales declined 9 per cent to 96,695 units in 2006, from a record 106,290 unit sales in 2005. While BC home sales declined last year, 2006 posted the second-highest number of transactions ever recorded.xml:namespace prefix =" o" ns =" "urn:schemas-microsoft-com:office:office"" />
“Despite strong job growth, low unemployment and rising wages, homes sales slowed in the province during the second half of 2006,” said xml:namespace prefix =" st1" ns =" "urn:schemas-microsoft-com:office:smarttags"" />
A study prepared by Clayton Research Associates Limited found the average BC home sold on the MLS® between 2002 and 2004 triggered nearly $28,000 in additional spending, including legal fees, moving expenses, furniture and appliance purchases and taxes. Using that figure, BC homes sold on the MLS® in 2006 generated more than $2.7 billion in additional spending.
BCREA represents 12 member real estate boards and their more than 16,000 REALTORS® on all provincial issues, providing an extensive communications network, standard forms, government relations, required post-licensing courses and continuing education. To demonstrate the profession’s commitment to improving Quality of Life in BC communities, BCREA supports growth that encourages economic vitality, provides housing opportunities and builds communities with good schools and safe neighbourhoods.