Another hot month propels BC home sales

Another hot month of sales in B.C.'s coastal real estate markets pushed

This is not a solicitation to purchase securities, which is being made under an Offering Memorandum that details risk and is available on request. Mortgage investments are not guaranteed. Returns may fluctuate and past performance may not be repeated.

provincial real estate sales to their busiest November since 2005, the B.C. Real Estate Association reported Wednesday.

The province saw 7,182 sales cleared through the realtor-controlled Multiple Listing Service, a 165-per-cent increase from the same month a year ago, a period in which sales went into free-fall during the world financial crisis.

The biggest sales gains remained in Metro Vancouver, where sales were up 252 per cent in November from the same month a year ago, and the Fraser Valley, where sales were up 192 per cent. The average home price in November topped $482,300, a 22-percent increase over November 2008.

Other markets saw greater than 100-per-cent gains in November sales, including Chilliwack, Victoria, Vancouver Island, Kamloops and the Okanagan region that includes Kelowna.

B.C.'s overall 2009 real estate sales are outpacing 2008.

("Another hot month in metro propels BC home sales" prepared by Derrick Penner/Vancouver Sun)