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Housing sales spike upward in B.C. in December, but annual numbers remain flat

Straight 2020-01-13 21:49:57

The latest numbers from the B.C. Real Estate Association suggest a rebound in the provincial housing market.

In December, there were 5,218 transactions through the Multiple Listing Service, up 48.9 percent from the last month of 2018.

The average MLS price was up 8.7 percent in December over the same month of the previous year, rising to $755,165. And total dollar volume rose 61.8 percent over the same month of 2018.

On an annual basis, however, total sales were down 1.5 percent in 2019 compared to the previous year.

The average price was off 1.6 percent and the total dollar volume fell three percent.

“Housing markets across the province staged a strong recovery in the second half of 2019,” BCREA chief economist Brendon Ogmundson said in a news release. “This sets up 2020 to be a much more typical year than what markets have experienced recently.”