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

Converter theft in Richmond

The City of Richmond, Mounties, and the Insurance Corporation of B-C are teaming up to help fight the growing problem of catalytic converter thefts and their illegal sales. Participating automotive shops in Richmond will now etch the last eight digits of the vehicle identification number on the converters during routine maintenance appointments at no extra cost.

Converter theft in Richmond

Man riding an e-bike with no-helmet found with a loaded gun: VPD

Police in Vancouver say a 35-year-old man who was riding an e-bike with no-helmet was found with a loaded gun and 60-thousand dollars worth of drugs. Officers tried to stop the man for safety reasons over the weekend, but a chase began when the suspect left the bike and tried to run.

Man riding an e-bike with no-helmet found with a loaded gun: VPD

CBC reaches tentative deal with union

The Canadian Media Guild says it has reached a tentative agreement with CBC/Radio Canada. In a statement, the union says the deal has been recommended by its bargaining committee and the details are currently being shared with its more than 4,400 members.

CBC reaches tentative deal with union

Pink Shirt Day must become a call to meaningful action against bullying

People across Canada are wearing pink today as a reminder to stand up against bullying. Premier David Eby says progress against bullying has been made, but there’s still a lot of work to do because it remains a pervasive problem on social media.

Pink Shirt Day must become a call to meaningful action against bullying

Overnight Burnaby fire kills one

Police in Burnaby have confirmed a fire in a building overnight has killed one person. Burnaby RCMP say officers received a call from firefighters to assist at the scene near Metrotown Mall on Tuesday night. Police confirmed one fatality in the fire and that the B-C Coroners Service has taken over the investigation.

Overnight Burnaby fire kills one

Warm but 'moody' spring expected across most of Canada: Weather Network forecast

Most Canadians can look forward to a warmer-than-normal spring, but they should also brace for the season’s "profound mood swings," according to The Weather Network's latest outlook. The forecast released Wednesday predicts that the unusually mild winter seen across much of the country thanks to El Niño conditions will pave the way for even more pleasant weather in the coming weeks, but not without some interruptions.