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

B.C. revamps building code to allow single stairwells in buildings up to six storeys

British Columbia is moving to allow buildings up to six storeys to have one exit stairwell instead of two in the government's latest effort to boost housing supply. Housing Minister Ravi Kahlon says in a statement that updating the provincial building code to remove the requirement for a second egress or exit stairwell per floor will facilitate more options for residents who need larger layouts.

B.C. revamps building code to allow single stairwells in buildings up to six storeys

Taskforce ready for 'emergency enhancement' of salmon stocks after B.C. landslide

A salmon task force that is examining the impact of the massive Chilcotin River landslide in British Columbia says it's prepared for the "emergency enhancement" of fish stocks after the disaster. A statement from the Fisheries Department, which is part of the task force alongside First Nations and the B.C. government, says monitoring has confirmed that sockeye salmon have begun to enter the river.

Taskforce ready for 'emergency enhancement' of salmon stocks after B.C. landslide

140 into 93 won't fit: The math facing B.C. Conservatives as BC United folds campaign

The suspension of the Official Opposition BC United's election campaign, consolidating its pool of potential candidates with the B.C. Conservative Party, means that dozens from either camp will lose party endorsement. Here's the math on the challenge of putting together a unified slate of candidates under the B.C. Conservative banner ahead of the Oct. 19 provincial election.

140 into 93 won't fit: The math facing B.C. Conservatives as BC United folds campaign

Number of active blazes down

The number of active wildfires continues to tick down. There are 240 active blazes across B-C, with 35 classified as burning out of control.

Number of active blazes down

Earthquake warning system providing seconds of warning is activated in B.C.

B.C. Minister of Emergency Management and Climate Readiness Bowinn Ma says seismologists have been warning for decades of a major earthquake in the province, and the new system will give "crucial seconds, to 10 seconds" of warning in which to "drop, cover and hold on."

Earthquake warning system providing seconds of warning is activated in B.C.

Former correctional officer charged after B.C. smuggling investigation

A former correctional officer is facing nine charges including obstruction of justice as part of a criminal organization and accepting a bribe, after a smuggling investigation in British Columbia. Mounties say the arrest is the result of a collaboration between Chilliwack RCMP and the Correctional Service of Canada following the discovery of evidence consistent with a correctional officer smuggling drugs, weapons, and cellphones to inmates within an institution in the Fraser Valley.