February 2015

After several years of straggling home sales in British Columbia, it is encouraging to hear from the British Columbia Real Estate Association (BCREA) that consumer demand in 2014 was the strongest it has been in five years. In a news release of January 13, 2015, it was noted that 2014 BC residential unit sales surpassed the 10- and 15-year averages.

In the Kootenays, the average price of homes sold in December 2014 was slightly lower than that of the previous year but the units sold and the total dollar volume was significantly higher in 2014 over 2013 for the month of December. The difference is even more significant when comparing the entire years’ unit sales and total dollar volumes.

A strong housing market means a strong job market and that is a benefit for all.