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

Cybersafety needs to be a priority for school aged kids: Coquitlam RCMP

The Coquitlam R-C-M-P is urging parents to be mindful of what information about their children they share online. The Mounties say while sharing a back-to-school photo can be exciting, it could also give away important and private information without intention.

Cybersafety needs to be a priority for school aged kids: Coquitlam RCMP

Anti theft measures at Tim Hortons

A Tim Hortons location in Vancouver's Chinatown neighbourhood has removed most of the furniture from its dining area. The coffee shop is moving to a standing-room style of service as other stores in the city make changes of their own to discourage theft.

Anti theft measures at Tim Hortons

Help needed to solve BC cold case

Mounties in West Kelowna are appealing to the public for new information that could help solve a double homicide in Peachland 20 years ago. Police say Dean Desimone and an unknown male suspect entered a home and got into a shootout with an occupant, Anthony Gorkoff, in April 2004.

Help needed to solve BC cold case

CBSA seizes drugs at YVR

The Canada Border Services Agency says officers at the Vancouver International Airport seized nearly 25 kilograms of methamphetamine concealed in passenger suitcases destined for Sydney, Australia, in two separate incidents last month. The agency says border officers used a detector dog to intercept 10 kilograms of methamphetamine concealed in false compartments in two suitcases on July 27th.

CBSA seizes drugs at YVR

Calgarians do better on second day of water rationing as pipe repairs continue

City officials say Calgarians are getting better at cutting down on their water use, but need to do more to stop the taps from potentially running dry. The city says 497 million litres of water were used on Tuesday.

Calgarians do better on second day of water rationing as pipe repairs continue

Opposition Leader Falcon ends BC United election campaign, backs BC Conservatives

British Columbia Opposition Leader Kevin Falcon has announced that he is suspending BC United's election campaign and is encouraging supporters to instead back the rival BC Conservative Party.