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

Pedestrian struck on Highway 97

Kelowna R-C-M-P say it is investigating the death of a pedestrian along Highway 97. Emergency health services were called to a pedestrian who was struck by a vehicle along the highway and Burtch Road.

Pedestrian struck on Highway 97

B.C. to scrap carbon tax if federal government drops requirement: Eby

British Columbia Premier David Eby says his government would end the carbon tax on consumers if the federal government removed the legal requirement. Eby says B.C. residents are struggling with affordability, but the government would still ensure that big polluters pay a price for carbon to take action on climate change.

B.C. to scrap carbon tax if federal government drops requirement: Eby

Singh says NDP drafting climate plan, won't say if it'll include consumer carbon tax

NDP Leader Jagmeet Singh won't say whether he would keep the consumer carbon price if his party forms government at the next election. Speaking to reporters in Montreal on Thursday, Singh criticized both the Liberals and the Conservatives over their approaches to fighting climate change.

Singh says NDP drafting climate plan, won't say if it'll include consumer carbon tax

Canada's consul general in New York at House committee today about official residence

Canada's consul general in New York is meeting with MPs today to talk about the purchase of his official residence. Former CTV journalist Tom Clark is answering questions at the House operations committee which is studying the government's decision to buy a $9-million condo in Manhattan.

Canada's consul general in New York at House committee today about official residence

Air Canada pushing for government intervention as clock ticks on labour talks

Air Canada and business leaders are asking Ottawa to be ready to intervene in labour talks with its pilots as time is running out before a potential shutdown, but so far the government has said the two sides need to work things out. Airline spokesman Christophe Hennebelle said Thursday that Air Canada is committed to negotiations, but it faces wage demands from the Air Line Pilots Association that it can't meet.

Air Canada pushing for government intervention as clock ticks on labour talks

Documents show dozens of harassment, violence cases at CSIS. It deemed only 8 founded

When Canada's spy chief wrote a secret letter to the public safety minister last December — the week after a report emerged that two young women in the service had been sexually assaulted by a senior colleague — it came with a warning. David Vigneault, then director of the Canadian Security Intelligence Service, told Dominic LeBlanc that he expected "more cases to surface in the coming weeks," and that he had to be "transparent" about this with the minister