Close X
Wednesday, January 15, 2025
ADVT 
National

Vancouver housing market more balanced after spring and summer slowdown: board

Darpan News Desk The Canadian Press, 04 Oct, 2023 12:09 PM
  • Vancouver housing market more balanced after spring and summer slowdown: board

The Real Estate Board of Greater Vancouver says a jump in new listings is helping to bring some balance back to the region's housing market.

The board says September sales totalled 1,926, a 13.2 per cent increase from the 1,701 sales recorded the same month last year. But the total was 26.3 per cent below the 10-year seasonal average of 2,614 and marked a 16.1 per cent drop from 2,296 sales in August.

The figures include multifamily and land sales, which the board says typically account for less than one to two per cent of those totals.

There were 5,446 new listings last month, a 28.4 per cent increase from a year earlier, as new listings were 5.2 per cent above the 10-year seasonal average.

The composite benchmark home price in September for Metro Vancouver was $1,203,300, a 4.4 per cent increase from September 2022 and a 0.4 per cent decrease from August 2023.

Andrew Lis, the board's director of economics and data analytics, says the upward shift in new listings has allowed overall inventory levels to recover modestly after a spring and summer that saw reluctance by homeowners to list their homes amid high mortgage rates.

MORE National ARTICLES

Cyberattack on B.C. health websites may have taken personal information

Cyberattack on B.C. health websites may have taken personal information
A cyberattack on three websites hosted by the Health Employers Association of British Columbia may have seized personal information associated with 240,000 email addresses. Michael McMillian, CEO of the association, says information obtained could include social insurance numbers, home addresses, passport and licence details and other personal data. 

Cyberattack on B.C. health websites may have taken personal information

Poilievre says Canada's immigration system is broken, sidesteps target cut questions

Poilievre says Canada's immigration system is broken, sidesteps target cut questions
Pierre Poilievre says Canada's immigration system is broken, but the Conservative leader is sidestepping questions about whether he would change current targets. Appearing before reporters on Parliament Hill, Poilievre criticized Prime Minister Justin Trudeau's recent comments on housing and pledged to speed up entry for immigrants skilled in the building trades. 

Poilievre says Canada's immigration system is broken, sidesteps target cut questions

All news in Canada will be removed from Facebook, Instagram within weeks: Meta

All news in Canada will be removed from Facebook, Instagram within weeks: Meta
Meta says it is officially moving to end news access for Canadians on its Facebook and Instagram platforms. The company says it is removing news for all Canadian users over the course of the next few weeks.

All news in Canada will be removed from Facebook, Instagram within weeks: Meta

As Singh tours Atlantic Canada, New Democrats look to flip Liberal seats

As Singh tours Atlantic Canada, New Democrats look to flip Liberal seats
NDP Leader Jagmeet Singh is touring Atlantic Canada in an effort to highlight affordability issues — and flip two Liberal seats in the next federal election. Singh says voters who are increasingly struggling with the cost of living are dissatisfied with the federal government.

As Singh tours Atlantic Canada, New Democrats look to flip Liberal seats

Residents of Osoyoos, B.C., heading home after harrowing fire fight

Residents of Osoyoos, B.C., heading home after harrowing fire fight
BC Wildfire Service spokeswoman Shaelee Stearns says the reins in the fight against the Eagle Bluff fire are being transitioned to a new management team that will be in constant contact with U.S. counterparts. The fire has scorched more than 14 square kilometres on the B.C. side of the border and 40 square kilometres on the U.S side, where it has destroyed several structures.

Residents of Osoyoos, B.C., heading home after harrowing fire fight

Family of man who died in plane crash, along with five others, remembered as loving

Family of man who died in plane crash, along with five others, remembered as loving
Kirk Mealey was one of the six people aboard a small private plane that took off from Springbank Airport, west of Calgary, on Friday night and was headed to Salmon Arm, B.C. A family statement says Mealey's wife is expecting their son to be born late in August.

Family of man who died in plane crash, along with five others, remembered as loving