Residential Home Sales See Increase

A record 124,854 residential unit sales were recorded in British Columbia by the Multiple Listing Service (MLS) in 2021, a 32.8 per cent increase from the 94,001 units sold in 2020, says a report from the British Columbia Real Estate Association (BCREA). A total of 6,871 residential unit sales were recorded across the province in December, down 17.6 per cent from a record-setting December 2020. However, total active residential listings were down 41.2 per cent to a record low of 12,179 units. The supply situation is particularly concerning in the Fraser Valley, Chilliwack, and Vancouver Island where there is one month or less of supply at the current pace of sales.