British Columbia: The B-C Real Estate Association says home sales in the first month of this year increased nearly 30 per cent compared with January 2023.
The association says there were three-thousand-979 sales completed last month, with an average price of 957-thousand-909-dollars, a 10.5-per-cent jump from the same time
last year.
The association’s chief economist Brendon Ogmundson says the numbers show sales clearly trending upward as 2024 kicked off, with a dollar value of 3.8-billion dollars in sales for the month.
Ogmundson says the numbers point to declining mortgage rates and further interest rate cuts expected by the Bank of Canada this year as key drivers of the sales increase over 2023.

(The Canadian Press)

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