Tuesday, February 27, 2024
ADVT 
National

Vancouver home sales down 46% from last Sept

Darpan News Desk The Canadian Press, 04 Oct, 2022 09:39 AM
  • Vancouver home sales down 46% from last Sept

VANCOUVER - The Real Estate Board of Greater Vancouver says September's home sales dropped by 46 per cent since last year and 10 per cent from August as interest rate increases cooled buyer sentiment.

The B.C. board says sales in the region totalled 1,687 last month, down from 3,149 the September before and 1,870 in August.

Last month’s sales were almost 36 per cent below the 10-year September sales average.

Andrew Lis, the board's director of economics and data analytics, attributed the lower sales levels to the Bank of Canada hiking interest and mortgage rates in an effort to tamp down on inflation.

Those hikes have contributed to the market's composite benchmark price reaching $1,155,300 last month, up 3.9 per cent from last September but down 2.1 per cent from August.

The number of homes currently listed for sale in the area is 9,971, an eight per cent increase compared with September 2021 and a roughly three per cent jump from August.

“With fewer homes selling and new listings continuing to come to market, inventory is beginning to accumulate, providing buyers with more selection compared to last year,” Lis said, in a news release.

“With more supply and less demand within this market cycle, residential home prices have edged down in the region over the last six months.”

 

MORE National ARTICLES

Expert concerned about language data from census

Expert concerned about language data from census
The national statistics agency flipped the order of two questions related to which language Canadians spoke at home on a regular basis and which languages they spoke most often. The results showed an "unprecedented" rise in the number of Canadians who spoke both English and French as their mother tongue, said Jack Jedwab, CEO of the Association for Canadian Studies.

Expert concerned about language data from census

Second doses of monkeypox vaccine roll out in B.C.

Second doses of monkeypox vaccine roll out in B.C.
The Provincial Health Services Authority says those who received their first dose at least 28 days ago are eligible to make appointments for their second, as part of a two-dose series approved by Health Canada. More than 19,000 doses of Imvamune have been administered to those most at risk of contracting the virus in B.C.

Second doses of monkeypox vaccine roll out in B.C.

Vancouver Police are praising bystanders for stopping a violent attack on a woman in Downtown Vancouver

Vancouver Police are praising bystanders for stopping a violent attack on a woman in Downtown Vancouver
The victim, a 29-year-old woman, had just entered the lobby of her apartment building, near Davie and Howe Street, when she was followed into the building by a 19-year-old man shortly after 6 p.m. The suspect grabbed her, threw her to the ground, and assaulted her.  

Vancouver Police are praising bystanders for stopping a violent attack on a woman in Downtown Vancouver

Late Sunday night shooting in Richmond turns fatal for one man and lands another in hospital

Late Sunday night shooting in Richmond turns fatal for one man and lands another in hospital
Two men were discovered suffering from gunshot wounds. One was transported to hospital while the other was pronounced deceased. While it is still early in this investigation, this incident appears to be targeted.

Late Sunday night shooting in Richmond turns fatal for one man and lands another in hospital

Premiers, governors call for longer border hours

Premiers, governors call for longer border hours
The group of provincial and state leaders have written to Prime Minister Justin Trudeau and President Joe Biden to argue that curtailed hours at border crossings are hurting the economy. The letter is signed by Alberta Premier Jason Kenney, Saskatchewan Premier Scott Moe and Manitoba Premier Heather Stefanson, as well as Montana Gov. Greg Gianforte and North Dakota Gov. Doug Burgum.  

Premiers, governors call for longer border hours

MPs debate dental care on second reading

MPs debate dental care on second reading
MPs today are debating the government's legislation to create an annual $650 dental benefit for low- and middle-income families for every child under the age of 12. The bill also gives low-income renters a one-time payment of $500.  

MPs debate dental care on second reading

PrevNext