Close X
Sunday, November 10, 2024
ADVT 
National

Vancouver's March home sales down 42.5%: REBGV

Darpan News Desk IANS, 04 Apr, 2023 09:41 AM
  • Vancouver's March home sales down 42.5%: REBGV

VANCOUVER - The Real Estate Board of Greater Vancouver says home sales fell 42.5 per cent in March from a year ago and were 28.4 per cent below the 10-year seasonal average.

Last month's sales totalled 2,535 compared with 4,405 sales in March 2022 and 1,808 in February.

The B.C. board says the numbers signal that March home sales are making a stronger than expected spring showing so far, despite elevated borrowing costs.

It also found there were 4,317 new listings, a 35.5 per cent decrease from March 2022 and 22.3 per cent below the 10-year seasonal average.

The board says the composite benchmark price for all residential properties in Metro Vancouver reached $1,143,900, a 9.5 per cent decrease from March 2022 and a 1.8 per cent increase compared with February.

The board foresees further price increases as the year progresses.

“On the pricing side, the spring market is already on track to outpace our 2023 forecast, which anticipated modest price increases of about one to two per cent across all product types,” Andrew Lis, the board's director of economics and data analytics said in a press release.

“The surprising part of this recent activity is that these price increases are occurring against a backdrop of elevated borrowing costs, below-average sales, and new listing activity that continues to suggest that sellers are awaiting more favourable market conditions.”

MORE National ARTICLES

Man shot, killed by police in Prince George, B.C.

Man shot, killed by police in Prince George, B.C.
A statement from RCMP says the force has notified the independent B.C. office that investigates all cases of police-involved death or serious injury. Staff Sgt. Kris Clark says officers were called to Highway 97 just south of Prince George on Thursday because the man was in his vehicle and having a mental health crisis.

Man shot, killed by police in Prince George, B.C.

Homes under construction in Burnaby, Coquitlam, and West Vancouver targeted by theft home finishings and fixtures stolen.

Homes under construction in Burnaby, Coquitlam, and West Vancouver targeted by theft home finishings and  fixtures stolen.
The stolen property included everything from stoves, fridges, toilets and plumbing fixtures, to flooring and lighting, with many items still in their original packaging. The value of seized goods is estimated to be in the hundreds of thousands of dollars. Some individual items are estimated to be worth as much as $25,000.

Homes under construction in Burnaby, Coquitlam, and West Vancouver targeted by theft home finishings and fixtures stolen.

Discrimination found at human rights body: union

Discrimination found at human rights body: union
It said the Treasury Board Secretariat found the commission breached the "no discrimination" clause in its collective agreement, and has invited parties to engage in a mediation process to seek a meaningful resolution.  The union is calling the March 6 decision an important win, and one that will have consequences across the federal public service.

Discrimination found at human rights body: union

Councillor '100%' in support of interference probe

Councillor '100%' in support of interference probe
 The report says consulate officials worked to oust then-mayor Kennedy Stewart and elect a new mayor and a certain city councillor. Ongoing concerns about possible foreign interference in the 2019 and 2021 federal elections spurred Prime Minister Justin Trudeau to name former governor general David Johnston to investigate.

Councillor '100%' in support of interference probe

Killer says Amanda Zhao may be alive, enraging mom

Killer says Amanda Zhao may be alive, enraging mom
The 21-year-old English student’s remains had been found stuffed in a suitcase in Mission, B.C., and Yang’s identification of her daughter was also confirmed by a police DNA test. More than 20 years later, any sense of closure thatact offered has been torn apart by the claims of Zhao's convicted killer, Ang Li, that he was framed by China's government and Zhao might not be dead at all.

Killer says Amanda Zhao may be alive, enraging mom

Canada to hold special ceremony for coronation

Canada to hold special ceremony for coronation
The ceremony in Ottawa will be one of several events held over two days as Canada marks the investiture of its new monarch. Trudeau says the Canadian ceremony will acknowledge the special relationship that King Charles has had with Canada over the past 50 years as the Prince of Wales.

Canada to hold special ceremony for coronation