Close X
Tuesday, November 12, 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

Canada on sidelines as allies move ahead on AUKUS

Canada on sidelines as allies move ahead on AUKUS
That includes formalizing American and British plans to help Australia develop a fleet of nuclear-powered submarines in response to growing concerns about China's actions in the Indo-Pacific region.    

Canada on sidelines as allies move ahead on AUKUS

Eight skunks found dead in B.C. had avian flu

Eight skunks found dead in B.C. had avian flu
British Columbia's Ministry of Agriculture says the skunks were infected with the same H5N1 strain that has caused the deaths of millions of domestic poultry since the outbreak began in April last year. The skunks were found in residential areas in both cities and were taken to B.C.'s Animal Health Centre over concerns they may have been deliberately poisoned.

Eight skunks found dead in B.C. had avian flu

Water taxi crash in B.C. prompts report's caution

Water taxi crash in B.C. prompts report's caution
A report from the board says four of the five people aboard the Rocky Pass were injured when the boat came to an abrupt stop on the rocks on Jan. 25, 2022. The operator, who had 20 years of experience captaining the taxi, was using GPS in very foggy conditions when the navigation device froze.

Water taxi crash in B.C. prompts report's caution

House in Maple Ridge hit by gunfire

House in Maple Ridge hit by gunfire
According to Mounties, one residence in the area was hit by gunfire. The residence was occupied at the time of the incident but no gunshot injuries occurred. The victims are cooperating with the police investigation. 

House in Maple Ridge hit by gunfire

Dead body of a woman found inside a tent in the Downtown Eastside

Dead body of a woman found inside a tent in the Downtown Eastside
The cause of death remains under investigation. Evidence indicates the woman died prior to the fire starting. Vancouver Police are working with the BC Coroners Service to identify the woman.

Dead body of a woman found inside a tent in the Downtown Eastside

More snow brings warnings for some B.C. highways

More snow brings warnings for some B.C. highways
Environment Canada says anywhere from 15 to 25 centimetres is expected at higher elevations of the passes north and east of Hope by Tuesday morning. Up to 15 centimetres of snow is forecast along the Sea-to-Sky Highway between Squamish and Whistler, but the weather office says conditions there should ease by later in the day.

More snow brings warnings for some B.C. highways