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

466 COVID19 cases for Tuesday

466 COVID19 cases for Tuesday
There are 523 individuals hospitalized with COVID-19 and 83 are in intensive care. In the past 24 hours, no new deaths have been reported, for an overall total of 2,873.

466 COVID19 cases for Tuesday

Closing arguments underway in B.C. clerk case

Closing arguments underway in B.C. clerk case
Brock Martland made the allegation as he began closing arguments in the Crown's case against Craig James, who has pleaded not guilty to two counts of fraud over $5,000 and three counts of breach of trust.

Closing arguments underway in B.C. clerk case

Vancouver police have charged a man following an alleged carjacking in a westside neighbourhood.

Vancouver police have charged a man following an alleged carjacking in a westside neighbourhood.
They say a 58-year-old woman was allegedly forced out of her car Sunday morning in Fairview. They say officers found the car and the suspect soon after in Strathcona.

Vancouver police have charged a man following an alleged carjacking in a westside neighbourhood.

Canada expected to see 'temperature roller-coaster Spring-Forecast

Canada expected to see 'temperature roller-coaster Spring-Forecast
Sherilee Harper of the University of Alberta and one of the 330 authors of the summary report from the Intergovernmental Panel on Climate Change, there will be impacts on human health and well-being. She says fleeing wildfires and flooding caused by climate change imposes mental-health costs.

Canada expected to see 'temperature roller-coaster Spring-Forecast

BC health officials to provide latest on COVID19

BC health officials to provide latest on COVID19
Officials say the number of people in hospitals due to COVID-19 declined again with 549 patients in hospital as of yesterday, a drop from 599 on Friday.

BC health officials to provide latest on COVID19

31 year old Surrey male from Guildford area dies due to self inflicted injury

31 year old Surrey male from Guildford area dies due to self inflicted injury
The 31-year-old male was taken to hospital and sadly succumbed to his injury. Surrey RCMP’s General Investigation Unit has assumed conduct of the investigation and initial indications are that it was a self-inflicted injury. 

31 year old Surrey male from Guildford area dies due to self inflicted injury