Close X
Friday, November 29, 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

B.C. government orders probe of Prince George RCMP

B.C. government orders probe of Prince George RCMP
The independent commission that ensures the impartial examination of complaints about the RCMP already issued an interim report to the RCMP commissioner about the matter and Farnworth's office says the commissioner agreed with the report's findings and recommendations.

B.C. government orders probe of Prince George RCMP

Surrey Council approves contract for 152 Street Road Widening Project

Surrey Council approves contract for 152 Street Road Widening Project
During Monday night’s meeting, Surrey Council also awarded a $594,278 Consultant Construction Agreement to McElhanney Ltd., and approved the expenditure of $850,000 payable to BC Hydro for the relocation and modification of BC Hydro infrastructure necessary for the project.

Surrey Council approves contract for 152 Street Road Widening Project

New West Police and BC anti-gang task force investigation results in seizure of guns, large amounts of cocaine and fentanyl, and arrest of 5 men

New West Police and BC anti-gang task force investigation results in seizure of guns, large amounts of cocaine and fentanyl, and arrest of 5 men
All were arrested at various locations throughout the Lower Mainland on March 7th and have remained in custody overnight.  The investigation remains ongoing and CFSEU-BC anticipates that more charges may be forthcoming.

New West Police and BC anti-gang task force investigation results in seizure of guns, large amounts of cocaine and fentanyl, and arrest of 5 men

Man in B.C.'s north dies after hit by snow plow

Man in B.C.'s north dies after hit by snow plow
The pedestrian was on a street in a business area of Fort St. John when he was hit Monday. A statement from RCMP says bystanders provided first aid but the unresponsive victim was pronounced dead in hospital.    

Man in B.C.'s north dies after hit by snow plow

Safety board to release report on B.C. tug sinking

Safety board to release report on B.C. tug sinking
Transportation Safety Board chair Kathy Fox and Clifford Harvey, the director of marine investigations, will hold a news conference to reveal the findings on the sinking of the tug Ingenika in February 2021. The tug was towing a barge and had a captain and two crew members aboard when it took on water and sank in Gardner Canal.    

Safety board to release report on B.C. tug sinking

Metro Vancouver homeless count underway

Metro Vancouver homeless count underway
The association says its volunteers try to be as accurate as possible in order to understand who is living without safe, affordable, appropriate housing, and why they are in that situation. That count was completed less than a week before the pandemic was declared and it identified 3,634 people who were experiencing homelessness.

Metro Vancouver homeless count underway