Close X
Tuesday, November 26, 2024
ADVT 
National

Vancouver's April home sales down 16.5% from a year ago: board

Darpan News Desk The Canadian Press, 02 May, 2023 10:12 AM
  • Vancouver's April home sales down 16.5% from a year ago: board

VANCOUVER — The Real Estate Board of Greater Vancouver says April home sales slid 16.5 per cent from a year ago as new listings remained below historical norms.

The B.C. board says sales for the month totalled 2,741, almost 16 per cent below the 10-year seasonal average.

The composite benchmark price for all residential properties in Metro Vancouver hit $1,170,700 last month, down 7.4 per cent from a year ago but up 2.4 per cent from March.

There were 4,307 new listings last month, a 29.7 per cent decrease, when compared with the prior April and a 22 per cent drop from the 10-year seasonal average of 5,525.

The board saw the numbers as a sign that home sales are staging a comeback and headed toward levels seen last spring before eight consecutive interest rate hikes were carried out.

The rate hikes eroded buying power and sent buyers to the sidelines, but the board believes a shift is underway.

"The fact we are seeing prices rising and sales rebounding this spring tells us homebuyers are returning with confidence after a challenging year for our market, with mortgage rates roughly doubling,” Andrew Lis, the board's director of economics and data analytics, said in a news release. 

MORE National ARTICLES

NDP calls for caregiver credit to be refundable

NDP calls for caregiver credit to be refundable
NDP MP Bonita Zarrillo, who is the party's critic for disability inclusion, sent a letter to Finance Minister Chrystia Freeland on Wednesday calling for the change in the upcoming federal budget. Individuals who are supporting a spouse, common-law partner or dependant with a physical or mental impairment can currently claim the credit against the federal taxes they owe.

NDP calls for caregiver credit to be refundable

Suspect in fatal shooting of 2 officers dead

Suspect in fatal shooting of 2 officers dead
Police Chief Dale McFee said Const. Travis Jordan, 35, and Const. Brett Ryan, 30, were shot by a man as they entered the building in the city's northwest and approached the suite. McFee said other officers rushed the wounded officers to hospital, where they were pronounced dead.

Suspect in fatal shooting of 2 officers dead

Man arrested with a gun at Abbotsford hospital

Man arrested with a gun at Abbotsford hospital
A person in the waiting room alerted hospital security after seeing the man drop a round of ammunition onto the floor. Hospital security contacted the police providing updates to arriving officers. Patrol officers immediately entered the hospital and took the man into custody without incident—a search of the man located a firearm.

Man arrested with a gun at Abbotsford hospital

B.C.'s TransLink gets $479M to avoid service cuts

B.C.'s TransLink gets $479M to avoid service cuts
Premier David Eby says the $479 million in provincial funding for TransLink will keep fares affordable, avoid service cuts and enable future transit expansion plans to continue. TransLink CEO Kevin Quinn says losses in ridership revenue because of the pandemic and higher service costs due to inflation. 

B.C.'s TransLink gets $479M to avoid service cuts

B.C. researcher calls for wild horse protections

B.C. researcher calls for wild horse protections
Wayne McCrory, who has been studying horses in the province for about two decades, said he was shocked to learn the animals had been shot to death. Wild horses are an important part of Canadian heritage, First Nation culture and the ecosystem, and need legislation to protect them, he said in an interview on Wednesday.

B.C. researcher calls for wild horse protections

David Johnston is foreign interference rapporteur

David Johnston is foreign interference rapporteur
Johnston has been asked to look into allegations of foreign meddling in Canada's last two federal elections and recommend what the Liberal government should do about it. That could include a public inquiry, which opposition parties have been calling for, or some other form of investigation.

David Johnston is foreign interference rapporteur