Close X
Friday, November 29, 2024
ADVT 
National

Vancouver home sales rise in November as newly listed properties add to supply

Darpan News Desk The Canadian Press, 04 Dec, 2023 12:19 PM
  • Vancouver home sales rise in November as newly listed properties add to supply

The Real Estate Board of Greater Vancouver says home sales ticked up last month as the continued increase of newly listed properties has given prospective homebuyers in the region among the largest selection to choose from since 2021.

The board says November home sales totalled 1,702, a 4.7 per cent increase from the same month last year, though it marked a slowdown from the prior month of October. The total was 33 per cent below the 10-year seasonal average of 2,538 for November.

There were 3,369 new listings of detached, attached and apartment properties last month, a 9.8 per cent increase from a year earlier, as new listings were 2.8 per cent below the 10-year seasonal average.

The composite benchmark home price in November for Metro Vancouver was $1,185,100, a 4.9 per cent increase from November 2022 and a one per cent decrease from October 2023.

Andrew Lis, the board's director of economics and data analytics, says the region has seen balanced market conditions since the summer, which are known to produce flatter price trends.

He says with most economists forecasting mortgage rates to fall modestly in 2024, market conditions for buyers "are arguably the most favourable we’ve seen in some time in our market.” 

 

MORE National ARTICLES

Charges for man in Vancouver shooting

Charges for man in Vancouver shooting
Charges of attempted murder and aggravated assault have been laid against a 41-year-old man after a shooting earlier this year in downtown Vancouver. A statement from Vancouver police says the man is also facing a firearms offence and remains in custody, awaiting a court date early next week.

Charges for man in Vancouver shooting

Jobless rate on the rise in Canada

Jobless rate on the rise in Canada
Statistics Canada says unemployment continues to nudge upward across the country, rising to 5.7 per cent last month -- up two-tenths of a point since September. The increase is the fourth in the last six months and comes despite the addition of 18-thousand jobs.

Jobless rate on the rise in Canada

Trudeau in D.C. to talk hemispheric trade, migration at White House summit

Trudeau in D.C. to talk hemispheric trade, migration at White House summit
Prime Minister Justin Trudeau is in the U.S. capital today to represent Canada at the inaugural Americas Partnership for Economic Prosperity summit.  The White House meeting, hosted by President Joe Biden, marks the first official gathering of all 12 countries in the hemispheric trade framework. 

Trudeau in D.C. to talk hemispheric trade, migration at White House summit

Canadians still not cleared to leave Gaza, Blair says movement likely in coming days

Canadians still not cleared to leave Gaza, Blair says movement likely in coming days
Canadians could be allowed to leave the Gaza Strip in "the coming days," Defence Minister Bill Blair said Friday, but shared no firm timeline as Canadians faced another day of being left off the list. Groups of people, including foreign nationals from several other countries, have been allowed to exit the Palestinian territory through the Rafah border crossing with Egypt in the last two days.

Canadians still not cleared to leave Gaza, Blair says movement likely in coming days

Surrey RCMP need public's help in locating missing man Balraj Dhanoa

Surrey RCMP need public's help in locating missing man Balraj Dhanoa
Surrey RCMP is requesting the public’s assistance in locating a missing male. On Thursday, Nov 2nd, Balraj Dhanoa was reported missing. He was last seen at approximately 3pm on Thursday in the 14800 block of Fraser Highway, in Surrey.

Surrey RCMP need public's help in locating missing man Balraj Dhanoa

4 people arrested in drugs seizure

4 people arrested in drugs seizure
Mounties in North Vancouver say officers arrested four people and seized large amounts of illicit marijuana and psilocybin -- also known as magic mushrooms --following a report of a kidnapping at a warehouse earlier this week. The R-C-M-P say they received a report that a man was being held at the warehouse after being kidnapped at gunpoint Tuesday afternoon.  

4 people arrested in drugs seizure