With summer in full swing, home sales continued to flourish in June, as year-to-date dollar volume and unit sales could lead to new records for 2006.

The British Columbia Real Estate Association (BCREA) reports 10,349 homes, worth more than $4.13 billion, were sold across the province on the Multiple Listing Service® (MLS®) in June 2006. This represents a 9.53 per cent increase in dollar volume and a 9.51 per cent decrease in the number of units sold during June 2005.

“June 2005 saw the highest monthly unit sales total ever recorded in BC, which is important to remember when making a comparison with June 2006,” says BCREA President Kelly Lerigny. A record 11,437 homes were sold in June 2005.

Despite the dip in the number of units sold last month, 2006 year-to-date figures indicate unit sales are on pace with the totals seen in 2005, with a difference of only 549 homes—less than one per cent. Year-to-date dollar volume figures are also up over 15 per cent from last year (see below).

“The combination of June sales in excess of 10,000 homes and a strong year-to-date showing is a clear indication of the market’s continued strength,” says Lerigny. “As British Columbians continue to enjoy the fruits of the real estate market, REALTORS® are committed to serving their housing needs.”

A study prepared by Clayton Research Associates Limited found the average BC home sold on the MLS® between 2002 and 2004 triggered nearly $28,000 in additional spending, including legal fees, moving expenses, furniture and appliance purchases and taxes. Using that figure, BC homes sold on the MLS® in 2006 have already generated more than $1.5 billion in additional spending.

BCREA represents 12 member real estate boards and their nearly 15,500 REALTORS® on all provincial issues, providing an extensive communications network, standard forms, government relations, required post-licensing courses and continuing education. To demonstrate the profession’s commitment to improving Quality of Life in BC communities, BCREA supports growth that encourages economic vitality, provides housing opportunities and builds communities with good schools and safe neighbourhoods.