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

Man dead after a pickup truck crashed into a bus stop in Surrey

A 33-year-old man died after a pickup truck crashed into a bus stop bench in Surrey where two people were waiting for a bus. Surrey RCMP say officers responded to the scene on Saturday afternoon after receiving a report of a motor vehicle collision.

Man dead after a pickup truck crashed into a bus stop in Surrey

One dead in Merritt rollover crash

Police in B-C say one person is dead and four others are injured following a serious single-vehicle rollover near Merritt. R-C-M-P say they were called to the scene at around 3:50 p.m. Saturday after receiving a report of a serious vehicle incident on Highway 5 north of Juliet Road.

One dead in Merritt rollover crash

Police car stolen at Vancouver park

A man with a lengthy criminal record is back in custody after allegedly stealing a police car at a Vancouver park yesterday morning. Vancouver police say the car was allegedly stolen around 10:45 a.m. after officers were flagged down to help a woman in distress in East Vancouver.

Police car stolen at Vancouver park

Nuremberg and Nazi comparisons to COVID-19 measures 'unacceptable': Rustad

That's after video surfaced of Rustad saying his party would "certainly be participating with other jurisdictions" after being asked at an online meeting in July about where he stood on "Nuremberg 2.0," which is the idea that people behind public health measures during the pandemic should be put on trial.

Nuremberg and Nazi comparisons to COVID-19 measures 'unacceptable': Rustad

Year long trafficking investigation leads to 1 arrest and seizure of 23 kgs of illicit drugs

Surrey RCMP say a more than a year long drug trafficking investigation has led to one arrest and the seizure of 23-kilograms of M-D-M-A, a quantity of fentanyl and other illicit drugs. They say the probe targeted a network that allegedly supplied bulk amounts of illicit drugs to traffickers in several Greater Vancouver cities.

Year long trafficking investigation leads to 1 arrest and seizure of 23 kgs of illicit drugs

Vancouver police boost presence at protests, schools for Oct. 7 anniversary

Vancouver Police Chief Const. Adam Palmer says planned and unplanned protests across the city are posing a "significant" risk of disorder, and officers trained specifically for large-scale events will be deployed. In addition, Palmer says tactical response and uniformed officers will be placed at "key locations" in consultation with leaders of both the Jewish and Muslim communities.