Vancouver January home sales down 55% from last year: real estate board
The Real Estate Board of Greater Vancouver says January home sales were more than halved from the year before and down 21 per cent from December.
The board says sales for the month totalled 1,022, a 55 per cent drop from the prior January.
The number of homes that changed hands last month was also 42.9 per cent below the 10-year January sales average.
The board attributed the quiet month to mortgage rates, which have risen rapidly over the last year and weighed on homebuyer intentions.
It found the region's composite benchmark price was more than $1.1 million, a 6.6 per cent decrease over January 2022 and a 0.3 per cent fall compared with December 2022.
The total number of homes currently listed for sale on its listing service is 7,478, a 32.1 per cent increase compared with January 2022 and a 1.3 per cent increase compared with December 2022.
This report by The Canadian Press was first published Feb. 2, 2023.
CTVNews.ca Top Stories
Air quality advisories issued in 5 provinces, 1 territory
Air quality advisories are in effect across Western Canada as smoky conditions plague some areas, according to the latest forecasts. Here's where.
'Oh my God, you're my brother': Man in his 70s discovers 6 unknown siblings
After receiving a DNA kit one Christmas from his son-in-law, Hugh McCormick soon discovered that he had six unknown siblings, with whom he shared the same birth parents.
No refund for travellers who cancelled flight already scrapped by airline: regulator
Four years on, the controversy over whether airlines owed refunds to passengers after cancelling hundreds of thousands of flights during the pandemic continues to simmer, aggravated by a sluggish, opaque complaints process.
Just how bad are ultraprocessed foods? Here are 5 things to know
Many foods fall under the category of ultraprocessed foods, depending on their exact ingredients. This type of food has been studied a lot lately, and the results aren’t great.
'My family doctor just fired me': Ontario patients frustrated with de-rostering
Dozens of Ontarians are expressing frustration in the province’s health-care system after their family doctors either dropped them as patients or threatened to after they sought urgent care elsewhere.
Rates of cancer declining in Canada, but more work needed to save lives: projections
A new study projecting declining rates of cancer cases and deaths in Canada demonstrates the success of prevention and early detection programs, but also highlights areas where more work is needed to save and prolong lives, researchers say.
DEVELOPING Trump trial arrives at a pivotal moment: Star witness Michael Cohen is poised to take the stand
The star prosecution witness in Donald Trump's hush money trial is set to take the stand Monday with testimony that could help shape the outcome of the first criminal case against an American president.
India's mammoth election is more than halfway done as millions begin voting in fourth round
Millions of Indians across 96 constituencies began casting their ballots on Monday as the country's gigantic, six-week-long election edges past its halfway mark. Prime Minister Narendra Modi is seeking a third straight term with an eye on winning a supermajority in Parliament.
Ottawa pizzeria places among top 20 deep-dish pizzas in the world at international competition
An Ottawa pizzeria is being recognized as one of the top 20 deep-dish pizzas in the world.