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

Canada pledges $5.7M in humanitarian aid for Ukraine, with focus on children

International Development Minister Ahmed Hussen says Canada will provide $5.7 million for Ukrainians to meet their basic needs. Ottawa says it's maintaining solidarity with Ukraine two-and-a-half years into Russia's full-scale invasion as Hussen visits Kyiv.

Canada pledges $5.7M in humanitarian aid for Ukraine, with focus on children

Multiple Jewish organizations, hospitals across Canada receive identical bomb threats

Police in multiple cities across Canada are responding to bomb threats that were sent to Jewish organizations, synagogues and some hospitals this morning. B'nai Brith Canada says more than 100 Jewish institutions received an identical email at 5 a.m. ET threatening explosions including at their offices in Toronto and Montreal.

Multiple Jewish organizations, hospitals across Canada receive identical bomb threats

Grizzly bear cubs seen on Vancouver Island for first time could have big impact

When wildlife photographer Catherine Babault captured images of a female grizzly bear with two cubs encountering a herd of elk on Vancouver Island last month, she knew she had witnessed something special.

Grizzly bear cubs seen on Vancouver Island for first time could have big impact

Man charged in alleged assault

Police say a man has been charged after an alleged assault last month where the victim reported waking up to a strange man groping her in her home. Surrey RCMP say they responded to the report at about 3:15 a-m on July 20th and the victim told officers that the suspect ran away when she screamed for help.

Man charged in alleged assault

Facebook marketplace scam in Okanagan

Police in the Okanagan are warning the public of a new Facebook marketplace scam that involves sellers as the victims. Kelowna R-C-M-P say the would-be buyer offers to pay for the items and claims they will electronically transfer the money, telling the seller to check their email.

Facebook marketplace scam in Okanagan

'Unacceptable': Business groups say rail stoppage would hit grain, groceries and more

Canadian National Railway Co. and Canadian Pacific Kansas City Ltd. have already begun a phased shutdown of their networks as the deadline approaches to come to an agreement with the Teamsters Canada Rail Conference for a new labour contract. Unless deals are reached, the companies plan to lock out workers early Thursday and the union says it's prepared to call a strike that day.