National

Home sales in Metro Vancouver fell nearly 20%

Darpan News Desk The Canadian Press, 04 Jun, 2024 11:52 AM

The number of homes changing hands in Metro Vancouver last month fell nearly 20 per cent from the same time last year, though new properties were coming online.

Greater Vancouver Realtors says it recorded just over 27-hundred sales last month, down from 34-hundred sales recorded in May 2023.

At the same time, the real estate board says the number of Metro Vancouver homes listed for sale rose 46.3 per cent year-over-year to 13-thousand-600, which is nearly one-fifth higher than the 10-year seasonal average.

Andrew Lis, the board's director of economics and data analytics, says it's a "surprise" that sales came in softer than usual, but he chalks it up to factors ranging from higher borrowing costs to worries about the economy.

Prev Next

MORE National ARTICLES

B.C. port terminal among sites blocked in co-ordinated pro-Palestinian protests

A blockade by pro-Palestinian protesters at a major port terminal in Metro Vancouver disrupted operations for several hours before dispersing on Monday. Terminal operator GCT Canada said the protesters' actions were illegal and stopped container trucks from accessing the Deltaport facility by blocking the Roberts Bank causeway for several hours.

B.C. port terminal among sites blocked in co-ordinated pro-Palestinian protests

B.C. woman found dead after alleged abduction, man arrested: RCMP

An RCMP investigation into the alleged abduction of a woman from Lumby, B.C., has turned into a probe of a suspicious death. Mounties say in a statement that officers with the North Okanagan detachment found the woman's body in a rural area on Sunday, and a man believed to have been involved was arrested in the vicinity.

B.C. woman found dead after alleged abduction, man arrested: RCMP

B.C. celebrates 10 billion seedlings planted since 1930

British Columbia officials are celebrating the planting of 10 billion seedlings since reforestation efforts began nearly a century ago. A statement from the Forests Ministry says two billion of those seedlings have been planted in the last seven years.

B.C. celebrates 10 billion seedlings planted since 1930

B.C. home sales slide almost 10 per cent in March despite mortgage rate drop

Home sales in British Columbia fell by almost 10 per cent in March compared with the same period last year, in a slowdown an analyst says could be buyers waiting for lower interest rates. The B.C. Real Estate Association says the province saw 6,460 residential unit sales in the Multiple Listing Service systems last month, a 9.5-per-cent decline from March 2023.

B.C. home sales slide almost 10 per cent in March despite mortgage rate drop

Decades in the making, B.C. signs agreement handing over title to Haida Gwaii

The B.C. government and the Council of Haida Nation have signed an agreement officially recognizing Haida Gwaii's Aboriginal title, more than two decades after the nation launched a legal action seeking formal recognition.

Decades in the making, B.C. signs agreement handing over title to Haida Gwaii

VPD investigate homicide of Chirag Antil

Vancouver police say they're investigating a suspected overnight homicide in the city's south end. Police say they were called to a report of gun shots around 11 p.m. Friday at the intersection of East 55th Avenue and Main Street. They say officers found the body of 24-year-old Chirag Antil in a vehicle.