Vancouver home prices rose slightly from June to July
Darpan News Desk The Canadian Press, 02 Aug, 2023 10:12 AM
Home prices in the Greater Vancouver Area rose slightly between June and July to just over 1.2-million-dollars.
The Real Estate Board of Greater Vancouver says that was due to strong sales figures and few listed homes.
Sales last month were running 15.6 per cent below the 10-year seasonal average which the board attributes to the Bank of Canada's steep interest rate hikes.
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BMO senior economist Robert Kavcic says while the first big drop-down in inflation was quick and relatively easy, this next stage is proving to be quite a bit tougher. He says it appears underlying core inflation is settling in around four per cent, which is clearly still too high for the Bank of Canada's comfort.