National

Jump in home sales in Vancouver

Darpan News Desk The Canadian Press, 04 Nov, 2024 02:52 PM

Home sales in Greater Vancouver jumped nearly 32 per cent last month compared with October 2023 as interest rate reductions boosted demand.

A statement from Greater Vancouver Realtors says more than 26-hundred homes changed hands, although that's still about 5.5 per cent below the 10-year average.

After months of tracking approximately 20% below seasonal averages, Metro Vancouver home sales surged more than 30% year-over-year in October.

Check out our October MLS® Market Report to learn more: https://t.co/aiwKs6JyLp #GVR #marketupdate #vancouverrealestate
— Greater Vancouver REALTORS® (Formerly REBGV) (@GVRealtors) November 4, 2024

Andrew Lis, the realtors' director of economics, says four consecutive rate cuts from the Bank of Canada have renewed strength in demand.

The composite benchmark price for all residential properties sold was just over 1.17 million dollars, representing a decrease of just under two per cent from the same month last year.

Prev Next

MORE National ARTICLES

Six charged, 200 kg of drugs seized in three-year investigation: Vancouver police

Police in Vancouver say a three-year investigation has led to the arrests of six people allegedly connected to a "sophisticated" organized crime group. Police say the probe began in November 2021, focusing on a kilogram-level drug-trafficking operation working both domestically and internationally.

Six charged, 200 kg of drugs seized in three-year investigation: Vancouver police

Conservatives to scale back, slash funds to supervised consumption sites: Poilievre

Supervised consumption sites are just "drug dens" that a future Conservative government would not fund and seek to close, Pierre Poilievre said Friday. During a visit to a park near such a site in Montreal, Poilievre said he would shutter all locations near schools, playgrounds and "anywhere else that they endanger the public."

Conservatives to scale back, slash funds to supervised consumption sites: Poilievre

B.C. wildfire crews battle blaze in ancient forest park with 1,000-year-old trees

British Columbia's wildfire service says crews are battling a 10-hectare blaze in a park that protects a portion of what the province calls the "only inland temperate rainforest in the world," with trees 1,000 years old. The Ancient Forest or Chun T'oh Whudujut Park is about 115 kilometres east of Prince George in the traditional territory of the Lheidli T'enneh First Nation.

B.C. wildfire crews battle blaze in ancient forest park with 1,000-year-old trees

Work stoppage averted for Richmond boating production workers, machinists

It says it reached a bargaining agreement with Dometic Marine Canada Inc. after a yearlong negotiation process. It says the company responded by issuing a 72-hour lockout notice, but a work stoppage was averted after an arbitrator met with both sides and issued a decision last month.

Work stoppage averted for Richmond boating production workers, machinists

Pair from B.C. found dead in boat washed ashore on Nova Scotia's Sable Island

An RCMP news release says Parks Canada contacted police around 3:15 p.m. Wednesday after a three-metre-long inflatable boat washed ashore on the island with two deceased people on board. Police say they think the boat is a lifeboat from a larger vessel named Theros.

Pair from B.C. found dead in boat washed ashore on Nova Scotia's Sable Island

Canada to work with Finland, U.S. on 'Ice Pact' to build icebreakers

The "ICE Pact," as it's being called, is aimed at bolstering shipbuilding capabilities in the three countries to deter Russian and Chinese ambitions in the Far North.