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

Bylaw patrols boosted for in Surrey

The City of Surrey says it's boosting bylaw patrols as Halloween and Diwali celebrations fall on the same day this year. The city says the patrols will focus on fireworks regulations.

Bylaw patrols boosted for in Surrey

What is Diwali, the Festival of Lights? How is it celebrated in India and the diaspora?

This year, the holiday is being celebrated on Oct. 31 and Nov. 1. In the U.S., Diwali falls on Halloween this year, which has triggered quite a few #Diwaloween memes on social media where some celebrants can be seen lighting diyas in their scary costumes or handing out laddoos to trick-or-treaters.

What is Diwali, the Festival of Lights? How is it celebrated in India and the diaspora?

Prime Minister Trudeau calls for return of Ukrainian children deported to Russia

Prime Minister Justin Trudeau is calling on countries around the world to do everything possible to repatriate Ukrainian children taken by Russia. Trudeau addressed delegations from more than 70 countries at a conference in Montreal this morning, as they prepare a joint declaration for the return of Ukrainian children, civilians and prisoners of war.

Prime Minister Trudeau calls for return of Ukrainian children deported to Russia

Dental-care program hits 1 million patients in first six months, coverage expands

A million Canadians have received care under the federal dental-care plan six months after the program began, Health Minister Mark Holland said Thursday. Starting on Friday, the program will also cover more complex procedures.

Dental-care program hits 1 million patients in first six months, coverage expands

Economy stalled in August, Q3 growth looks to fall short of Bank of Canada estimates

Statistics Canada’s gross domestic product report Thursday says growth in services-producing industries in August were offset by declines in goods-producing industries. A preliminary estimate for September suggests real gross domestic product grew by 0.3 per cent.

Economy stalled in August, Q3 growth looks to fall short of Bank of Canada estimates

Rotors collided in helicopter crash

Canada's Transportation Safety Board says the fatal crash of a British Columbia logging helicopter was caused when the chopper's rotor system broke up mid-flight. A final report from the board says that on Oct. 4, 2021, the pilot of the Kaman K-1200 dropped off a load of logs into Jervis Inlet on B.C.'s south coast, turned around to pick up another load, then crashed into the water and sank.