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
BREAKING Baby and grandparents killed in wrong-way crash involving police on Ontario's Highway 401
An infant and the child's grandparents – aged 55 and 60 – were all killed when a vehicle being pursued by police in the wrong direction on Highway 401 in Whitby, Ont. caused a crash involving at least six vehicles, the Special Investigations Unit says. The driver of the suspect vehicle also died.
Judge holds Trump in contempt, fines him US$9,000 and raises threat of jail in hush money trial
Donald Trump was held in contempt of court Tuesday and fined US$9,000 for repeatedly violating a gag order that barred him from making public statements about witnesses, jurors and some others connected to his New York hush money case. If he does it again, the judge warned, he could be jailed.
McGill requests 'police assistance' over pro-Palestinian encampment
McGill University says it has 'requested police assistance' about the pro-Palestinian encampment on its lower field.
New cancer treatment approved, but not everyone thinks it's what's best for patients
A new cancer treatment recently approved in Canada promises to cut treatment time down to just minutes, but experts have differing opinions on whether it's what's best for patients.
Air Canada walks back new seat selection policy change after backlash
Air Canada has paused a new seat selection fee for travellers booked on the lowest fares just days after implementing it.
Province boots mayor and council in small northern Ont. town out of office
An ongoing municipal strike, court battles and revolt by half of council has prompted the province to oust the mayor and council in Black River-Matheson.
This is how many dentists have actually signed up for Canada's new free dental program
A new Canadian dental care program is offering the hope of free care to millions, but while 1.7 million people have signed up for the plan, only about 5,000 dentists have done the same.
Sword-wielding man attacks passersby in London, killing a 13-year-old boy and injuring 4 others
A man wielding a sword attacked members of the public and police officers in a east London suburb early Tuesday, killing a 13-year-old boy and injuring four others, authorities said.
Police searching for 'armed man' in Dartmouth, N.S., residents asked to shelter in place
Residents in the area of Gaston Road in Dartmouth, N.S., are being asked to shelter in place as police search for an armed suspect.