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B.C. home sales drop 35% as rising mortgage rates bite

Financial Post: 'While the province’s average home price climbed more than nine per cent year-over-year to just over $1 million according to data from the British Columbia Real Estate Association, it was down six per cent from the $1.065 million recorded in April.

'The association noted that sales slid as well, with 8,214 residential homes exchanging hands last month, down approximately 35 per cent from last May and eight per cent from April.'

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