Close X
Monday, November 11, 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

Nursing seats now open at KPU

Nursing seats now open at KPU
115 new nursing seats are now open to students at Kwantlen Polytechnic University, increasing the program size by nearly 50 per cent. A new nursing lab and technology upgrades are now complete at the Langley campus.

Nursing seats now open at KPU

'Freedom Convoy' trial evidence a Rorschach test for attitudes about protest: expert

'Freedom Convoy' trial evidence a Rorschach test for attitudes about protest: expert
The evidence put forward by the Crown and defence in the criminal trial of two prominent "Freedom Convoy" organizers is so similar, it reflects something of a Rorschach test for how people feel about the massive protest, said criminologist Michael Kempa. The trial is set to reconvene Wednesday after a two and a half week break, and has so far focused largely on the social media posts of Tamara Lich and Chris Barber.

'Freedom Convoy' trial evidence a Rorschach test for attitudes about protest: expert

Canada limited in preventing wider Mideast crisis, amid humanitarian plight: experts

Canada limited in preventing wider Mideast crisis, amid humanitarian plight: experts
Experts say Canada has limited options as it works diplomatic channels to try preventing clashes in Israel and Palestinian territories from escalating into a wider, regional war. Foreign Affairs Minister Mélanie Joly says she's in touch with counterparts in the region, as the fallout from Hamas's brazen surprise attacks on Israel Saturday threatens to engulf multiple countries.   

Canada limited in preventing wider Mideast crisis, amid humanitarian plight: experts

Burnout, despair facing workers on front lines of poverty and homelessness in Canada

Burnout, despair facing workers on front lines of poverty and homelessness in Canada
Those who work with people facing homelessness and food shortages say employees are carrying a massive emotional burden as demand for services soars beyond what their organizations can provide. Warren Maddox, executive director at Fredericton Homeless Shelters, in New Brunswick, says staff are witnessing more desperation, more violence and more people in extreme states of crisis.

Burnout, despair facing workers on front lines of poverty and homelessness in Canada

B.C. first province to sign individual health deal with feds, worth $1.2 billion

B.C. first province to sign individual health deal with feds, worth $1.2 billion
British Columbia is the first province to sign a tailored funding agreement with the federal government as part of the $196-billion health accord the prime minister offered provinces earlier this year. The deal will see Ottawa shift $1.2 billion to B.C. over three years.

B.C. first province to sign individual health deal with feds, worth $1.2 billion

Vancouver man, Ben Mizrachi, killed by Hamas in Israel: school head

Vancouver man, Ben Mizrachi, killed by Hamas in Israel: school head
A 22-year-old Vancouver man has been killed in southern Israel after Hamas militants launched a series of deadly attacks on Saturday.  The head of the King David High School in Vancouver confirmed in a Facebook post that former student Ben Mizrachi was gunned down while attending a music festival in southern Israel. 

Vancouver man, Ben Mizrachi, killed by Hamas in Israel: school head