Vancouver Sets Housing Price Record For February, More Inventory Needed

Darpan News Desk The Canadian Press, 02 Mar, 2016 02:17 PM

VANCOUVER — Housing sales in Metro Vancouver last month set a record for the month of February, with a 36 per cent jump from a year earlier.

The Real Estate Board of Greater Vancouver says 4,172 homes were sold, representing a 56 per cent hike above the 10-year sales average for the month.

About 7,300 properties are currently listed for sale in Metro Vancouver, but that's down nearly 39 per cent from February 2015.

Board president Darcy McLeod says additional housing supply is needed to meet demand in the current seller's market.

Sales of detached properties last month also went up, by 37 per cent from February 2015.

The board says the price of a detached home increased by 27 per cent, to over $1.3 million.

Prev Next

MORE National ARTICLES

25,000th Syrian Refugee Lands In Canada Marking Milestone For Liberal Program

They were part of a plane load of refugees who touched down in Montreal.

25,000th Syrian Refugee Lands In Canada Marking Milestone For Liberal Program

Uber In Alberta Says It Will Shut Down Tuesday Unless Province Agrees To Changes

The manager for Uber in Alberta says the ride-sharing app will cease operating in the province on Tuesday unless the provincial government makes insurance and licensing changes.

Uber In Alberta Says It Will Shut Down Tuesday Unless Province Agrees To Changes

Canadian Taxpayers Federation Blasts MPs For Voting To Increase Office Budget

The Canadian Taxpayers Federation is criticizing the federal government for quietly approving a hefty increase to MPs' office budgets.

Canadian Taxpayers Federation Blasts MPs For Voting To Increase Office Budget

To Kill Or Not To Kill? OSPCA Seeks To Destroy 21 Alleged Fighting Dogs

Twenty-one alleged fighting dogs sit in a kennel in an undisclosed location somewhere in Ontario, where they'll remain until a court decides whether they live or die.

To Kill Or Not To Kill? OSPCA Seeks To Destroy 21 Alleged Fighting Dogs

Polar Bear Encounters With Humans On The Rise, More Put In Churchill Jail

Polar bear activity reports from the past three years show the number of documented cases in Churchill has jumped from 229 in 2013 to 351 last year.

Polar Bear Encounters With Humans On The Rise, More Put In Churchill Jail

B.C. Forestry Company To Suspend Operations For One Day After Workplace Death

TimberWest Forest Corp. spokeswoman Monica Bailey said an equipment operator was killed Friday afternoon at the company's Bonanza Lake site near Port McNeill.