Record number of homes sold in March

VANCOUVER (NEWS 1130) – If you need more proof our housing market has gone crazy… just check the latest sales numbers.

A record number of homes were snapped up last month across the province, most of them right here in Metro Vancouver. More homes were sold across the province in March than any other month on record.

Cameron Muir with the BC Real Estate Association says more than 12,500 were snapped off the market eclipsing the previous high set back in 2007.

But home prices are also way up, jumping 23 per cent in Metro Vancouver over the same month last year and Muir says that may start to cool things down.

“Consumer demand is unlikely to continue at the current frenetic pace for more than the next few quarters as rapidly rising home prices in some regions are negatively impacting affordability.”

In the meantime, he adds market conditions will remain extremely tight as buyers compete for the limited number of homes for sale.

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