Close X
Monday, November 11, 2024
ADVT 
National

Vancouver home sales up 50% from start of year

Darpan News Desk The Canadian Press, 02 Mar, 2022 11:29 AM
  • Vancouver home sales up 50% from start of year

The Real Estate Board of Greater Vancouver says the region saw a 50 per cent jump between January and February in the number of homes sold, as the market experienced a modest increase in new listings.

The B.C. board says Metro Vancouver home sales totalled 3,424 last month, down 8.1 per cent from 3,727 in February 2021 and up 49.8 per cent from 2,285 in January 2022. 

The board says last month’s sales were nearly 27 per cent above the 10-year February sales average and came as more people put their homes on the market.

There were 5,471 new listings last month, up 8.4 per cent from 5,048 in February 2021 and up 31.2 per cent from 4,170 in January 2022.

The home price index composite benchmark price for all residential properties in the region reached more than $1.3 million last month, a 20.7 per cent increase from last February and a 4.6 per cent increase from January of this year.

Taylor Biggar, the board's chair, says the numbers signal a return to a more traditional housing market after two years of pandemic conditions, but the market remains heated.

"Despite having a higher volume of people listing their homes for sale in February, the region’s housing market remains significantly undersupplied, which has been pushing home prices to new highs month after month,” he said, in a release.

MORE National ARTICLES

Security guard killed at UBC Okanagan identified as Harmandeep Kaur

Security guard killed at UBC Okanagan identified as Harmandeep Kaur
Harmandeep Kaur was an International student and had just received her Permanent Residency card 3 weeks ago. She wanted to pursue a career as a paramedic. 

Security guard killed at UBC Okanagan identified as Harmandeep Kaur

WATCH: Billionaire Businessman Bob Gaglardi donates $10M to Thompson Rivers University

WATCH: Billionaire Businessman Bob Gaglardi donates $10M to Thompson Rivers University
Gaglardi is the name behind Northland Properties, a global company under whose flagship are some of the most well known hotel chains, restaurants, and sports bars.    

WATCH: Billionaire Businessman Bob Gaglardi donates $10M to Thompson Rivers University

Russian oligarchs in Canada targeted: Freeland

Russian oligarchs in Canada targeted: Freeland
Freeland said any future pain would be far worse for European countries, which are heavily dependent on Russian oil and gas and have deeper economic ties with Russia than Canada. Freeland did not single out any specific Russian business interests.

Russian oligarchs in Canada targeted: Freeland

Suspect in poppy donation box theft arrested, faces multiple charges

Suspect in poppy donation box theft arrested, faces multiple charges
Last November, just days before Remembrance Day, three poppy donation boxes were stolen in North Burnaby. Burnaby RCMP released video and photos of the suspect. Police identified a suspect quite quickly and a warrant was issued for a 57-year-old man with no known fixed address.

Suspect in poppy donation box theft arrested, faces multiple charges

Freeland says new sanctions coming on Russia

Freeland says new sanctions coming on Russia
Freeland says she spoke with her G7 counterparts this morning, joined by Ukraine's "tired but determined" finance minister, who assured them his country would win the war as he spoke from a windowless room furnished with a spartan cot and a blue and yellow flag taped to the wall.

Freeland says new sanctions coming on Russia

B.C. could drop more COVID restrictions: top doc

B.C. could drop more COVID restrictions: top doc
Dr. Bonnie Henry says a decline in hospitalizations, immunity from vaccination and the availability of at-home rapid tests point the way forward to normal activities like high school graduations that youth in particular need to feel connected to others.

B.C. could drop more COVID restrictions: top doc