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.

MORE National ARTICLES

Pivot lawyer DJ Larkin will speak before the United Nations Committee on Economic, Social and Cultural Rights in Geneva, Switzerland, on Monday.

The incident took place on a GO Transit bus that was pulled over on the side of a major highway late Thursday night.

The zoo says an 11-year-old Indian rhinoceros called Ashakiran gave birth to a male calf on Wednesday night.

The exaggerated human figures in the oil canvases speak of the anguish and grief during the tumultous times of 1947 that Gujral was a witness to

A spokesman says St. Michael's emergency department is only able to accept patients arriving by ambulance.

The pharmaceuticals and some other items were taken sometime Wednesday night or early Thursday morning.