Greater Vancouver home sales rise as inventory reaches levels not seen since pandemic
Greater Vancouver's real estate board says the number of homes that changed hands in April rose 3.3 per cent from the previous year, but total sales were still well below the 10-year average for the month.
Greater Vancouver Realtors says there were 2,831 home sales in the region last month, compared with 2,741 sales recorded in April 2023.
That came as the number of Metro Vancouver homes listed for sale rose 42.1 per cent year-over-year to 12,491, which is 16.7 per cent above the 10-year seasonal average. It marks the first time that figure has exceeded the 12,000-threshold since the summer of 2020.
The composite benchmark home price was $1,205,800, up 2.8 per cent from a year ago and a 0.8 per cent increase from March.
In April, there were 7,092 detached, attached and apartment properties newly available - a 64.7 per cent increase compared with the 4,307 properties listed in April 2023.
Andrew Lis, the board's director of economics and data analytics, says it's a “surprise” to many that demand has remained strong, along with the fact few homeowners have been forced to sell in the face of the highest borrowing costs in over a decade.
This report by The Canadian Press was first published May 2, 2024
CTVNews.ca Top Stories
BREAKING NEWS 'A horrible way to start the summer': 3 killed in serious boat crash on lake north of Kingston, Ont.
Three people were killed and five others were injured Saturday night following a boat crash on the Buck Bay area of Bobs Lake, north of Kingston, Ont., the Ontario Provincial Police (OPP) said.
Walmart, Costco refusing to sign grocery code of conduct 'untenable': industry minister
Industry Minister Francois-Philippe Champagne says it's 'untenable' for 'smaller players' like Walmart and Costco to delay signing on to the government- and industry-led grocery code of conduct, now that industry giant Loblaw has agreed to do so.
Signs of Alzheimer’s were everywhere. Then his brain improved
Blood biomarkers of telltale signs of early Alzheimer’s disease in the brain of his patient, 55-year-old entrepreneur Simon Nicholls, had all but disappeared in a mere 14 months.
Ottawa driver who appeared to be racing another vehicle on Highway 416 facing charges
The Ontario Provincial Police (OPP) says an Ottawa driver is facing charges after being caught going 187 km/h on Highway 416.
Helicopter carrying Iran's president suffers a 'hard landing,' state TV says without further details
A helicopter carrying Iranian President Ebrahim Raisi suffered a 'hard landing' on Sunday, Iranian state media reported, without immediately elaborating.
Diddy admits beating ex-girlfriend Cassie, says he's sorry, calls his actions 'inexcusable'
Sean "Diddy" Combs admitted Sunday that he beat his ex-girlfriend in a hotel hallway in 2016 after CNN released video of the attack, saying in a video apology he was "truly sorry" and his actions were "inexcusable."
The secret Italian lakes that most tourists don't know about
Italy has dozens of secret smaller lakes that boast superb scenery, unknown to mass tourism, where locals get together on day trips and enjoy picnics.
Residents evacuated after threats made to residence in Fall River, N.S.
Nova Scotia RCMP are warning the public to avoid the area around Canterbury Lane in Fall River after a threat was made at a residence.
VIDEO Born without front legs, this dog has been inspiring the world for 3 years: Dresden farm owner
A sanctuary dedicated to animals with disabilities is celebrating the third birthday of one of its most popular residents.