B.C. seeing 'balanced' real estate market, association says
British Columbia real estate sales and prices bumped up slightly in October compared with a year ago in what is being described as a balanced market.
Figures from the B.C. Real Estate Association show 5,373 residential units sold last month, a 1.8-per-cent increase from the same month last year, while prices rose by 4.1 per cent over the same period.
The association's chief economist Brendon Ogmundson says home sales have slowed as expected given the high borrowing costs and stricter stress tests for buyers.
However, he says sales inventory of homes remains low, which balances the market to a “very low level of activity.”
Residential sales were down 13.6 per cent to $63.1 billion for the first 10 months of this year compared with last year.
The association says residential unit sales between the same period this year and last dropped 105 per cent, while the average price fell 3.4 per cent to $971,802.
This report by The Canadian Press was first published Nov. 14, 2023.
CTVNews.ca Top Stories
Ambassador says interactions with Russia 'quite limited' but 'not unfriendly'
Canada's ambassador to Russia says while Ottawa has 'grave concerns' about the Kremlin's 'longer-term trends,' the war in Ukraine is 'a primary barrier to a change in the relationship.'
Bathroom break nearly derails $22 million project at city council meeting
A brief break during Wednesday's city council meeting in Saskatoon nearly cost the city dearly.
Lanny McDonald and a few old Flames take the Stanley Cup on a surprise visit to the man who saved his life
The Stanley Cup was passing through town Friday, and Lanny Legend took it upon himself to take it for a surprise visit.
Chad Daybell sentenced to death for killing wife and girlfriend’s two children in jury decision
Jurors resumed deliberations Saturday on whether a man should be sentenced to death after being convicted days earlier of the murders of his wife and his girlfriend’s two youngest children in Idaho.
Robert Pickton stabbed with toothbrush and broken broom handle: victim's family
The family of one of Robert Pickton's victims says the convicted serial killer suffered an incredibly violent death at the hands of another inmate.
Father who killed one-year-old son with axe may be allowed to travel in southwestern Ontario
A Mennonite father who killed his one-year-old son with an axe may be allowed to travel to parts of southern Ontario in the coming months
'It feels like freedom': Why some Albertans like going nude in nature
Few people can say they accidentally purchased a nude beach — but Shelley can. When she saw a piece of land she could fondly remember camping on was up for sale, she inquired about it and ended up purchasing it. She soon found that there were already inhabitants on it.
This Calgary home has a giant tree in the middle, and it's for sale
There's a luxury 'tree home' for sale in Calgary.
China lands spacecraft on the moon amid growing space rivalry with U.S.
A Chinese spacecraft landed on the far side of the moon Sunday to collect soil and rock samples that could provide insights into differences between the less-explored region and the better-known near side.