National

Jump in home sales in Vancouver

Darpan News Desk The Canadian Press, 04 Nov, 2024 02:52 PM

Home sales in Greater Vancouver jumped nearly 32 per cent last month compared with October 2023 as interest rate reductions boosted demand.

A statement from Greater Vancouver Realtors says more than 26-hundred homes changed hands, although that's still about 5.5 per cent below the 10-year average.

After months of tracking approximately 20% below seasonal averages, Metro Vancouver home sales surged more than 30% year-over-year in October.

Check out our October MLS® Market Report to learn more: https://t.co/aiwKs6JyLp #GVR #marketupdate #vancouverrealestate
— Greater Vancouver REALTORS® (Formerly REBGV) (@GVRealtors) November 4, 2024

Andrew Lis, the realtors' director of economics, says four consecutive rate cuts from the Bank of Canada have renewed strength in demand.

The composite benchmark price for all residential properties sold was just over 1.17 million dollars, representing a decrease of just under two per cent from the same month last year.

Prev Next

MORE National ARTICLES

Jagmeet Singh makes his case to Alberta's new NDP leader amid party separation talks

Breaking up the federal and provincial arms of the New Democratic Party would be a mistake, federal NDP Leader Jagmeet Singh suggested on Thursday, as members in Alberta increasingly vocalize their desire for a separation. Singh said the federal and Alberta NDP need to remain united in their goals to bring down conservatives.

Jagmeet Singh makes his case to Alberta's new NDP leader amid party separation talks

Wounded Victoria officer recalls wild robbery shootout ahead of two-year anniversary

Police fired more than 100 rounds in the 26 seconds that followed, killing 22-year-old twin brothers Mathew and Isaac Auchterlonie. Both men were wearing masks and body armour, and were carrying semi-automatic rifles. Police couldn't say who shot first.

Wounded Victoria officer recalls wild robbery shootout ahead of two-year anniversary

Eligibility for Ottawa's dental plan expands to children, people with disabilities

When the government first announced people with disabilities would have access to national dental coverage this year, Antonella Giordano really started to look forward to no longer paying out of pocket to care for her teeth. The 61-year-old Montrealer has been on disability from work for more than a decade for reasons related to her mental health.

Eligibility for Ottawa's dental plan expands to children, people with disabilities

Optimistic, but aware: wet weather easing Fort Nelson fire fears

The mayor of Fort Nelson says the community is feeling more comfortable after a week of wet weather and a downgraded drought threat, but that doesn't mean they're blind to the risk of wildfires that still exists in the region.

Optimistic, but aware: wet weather easing Fort Nelson fire fears

No deaths in Winnipeg house blast, no confirmed cause yet: police

Police say the occupants of a Winnipeg home destroyed in an explosion have been located and are safe. They say a father and daughter who lived in the home left before the blast and were found later in the day.

No deaths in Winnipeg house blast, no confirmed cause yet: police

B.C. homes and businesses to be eligible for rebates for rooftop solar systems

British Columbia's public power utility says for the first time it will provide rebates for the installation of rooftop solar and battery storage systems for residents and businesses. BC Hydro says in a news release that eligible homeowners can receive rebates up to $10,000 for installing a qualified solar and battery storage system, while apartment buildings, schools, businesses and others could get from $50,000 to $150,000 back.