The number of home sales through the MLS of British Columbia Real Estate Board in February dropped 31.7 per cent compared to a year earlier but remain in line with longer-term levels.

"Consumer demand has returned to a more typical level over the first two months of the year," says Cameron Muir, BCREA Chief Economist. "While the home sales have declined nearly 32 per cent from the extraordinary performance of a year ago, last month's activity reflected the average for February since the year 2000."

Prices were impacted by lower sales in the high-priced Vancouver region and slipped to a median $688,117, down 11.7 per cent year-over-year.

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