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

Arson in North Vancouver

Police in North Vancouver say there were a pair of suspicious fires yesterday afternoon in the district's Norgate area. North Vancouver Mounties say both fires happened in the 13-hundred-block of Sowden Street before 3 p-m, where fire crews found hedges on fire in front of two homes on the block.

Arson in North Vancouver

Protection fund, bill of rights for renters coming; 'renters matter,' Trudeau says

The federal government wants to support those who rent their homes with a protection fund, a bill of rights and a plan to give reliable renters credit when they step up to buy a home. Prime Minister Justin Trudeau says there's something fundamentally unfair about paying $2,000 a month for rent, while those paying the same for a mortgage get equity and build their credit score.

Protection fund, bill of rights for renters coming; 'renters matter,' Trudeau says

Measles cases in Canada are increasing, Canada's chief public health officer warns

Canada's chief public health officer says the number of measles cases in the country continues to rise. Dr. Theresa Tam says in a statement the Public Health Agency of Canada is aware of 40 measles cases in Canada so far this year.

Measles cases in Canada are increasing, Canada's chief public health officer warns

Jewelry theft at South Surrey mall

Police say they are investigating a break in and theft of jewelry from South Surrey mall. The R-C-M-P say officers responded to a report of a break-in at the shopping centre just after 4 A-M on Monday.

Jewelry theft at South Surrey mall

Late night shooting in Cloverdale

Mounties in Surrey are looking looking for witnesses to a late night shooting in Cloverdale. They say officers responded to a report of shots fired around 10:45 P-M yesterday to find a man suffering from a gunshot wound.

Late night shooting in Cloverdale

Darpan Power Women of Influence Gala 2024: A Night of Glitz, Glam, and Exceptional South Asian Female Achievers

The red carpet was truly buzzing with prominent members of the South Asian community, political dignitaries, and socialites. Celebrities, business leaders, and social activists graced the evening, sharing their experiences, insights, and inspirations.