There is no cooling the red hot housing market.
The Real Estate Board of Greater Vancouver says in June there was a 28% jump in the number of homes sold and and a 10% increase in prices, compared to June of a year ago.
President Darcy McLeod says they don’t expect sales to slow down this month.
“Probably June, July are going to be as strong. August usually slows down a little bit but there’s no indication that’s a sure thing this year.”
He says they aren’t sure where all the buyers are coming from, but…..
“The biggest sense we have is that it’s not really one particular segment of the market but largely it’s people who already live, work and raise their families in Greater Vancouver that are just moving from home to home.”
June was the 4th straight month with over 4,000 sales, which is a first in the Real Estate Board’s history.