The year got off to a strong start in BC according to realtors. There were 5,831 sales of residential properties through the MLS in January, a rise of 33.3 per cent from a year earlier. The average MLS price was up 26.9 per cent year-over-year to $752,906.

"The BC housing market continues to build on momentum from a very strong 2015," said Brendon Ogmundson, BCREA Economist. "Heightened demand is being met with the lowest level of supply in a decade, resulting in increased pressure on prices in much of the province."

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