Vancouver real estate market: Demand outpacing supply, home sales up 12%
The Real Estate Board of Greater Vancouver says November home sales increased by almost 12 per cent from last year as demand continued to outpace supply.
The B.C. board says sales for the month amounted to 3,428, up from 3,064 last November but down from 3,494 in October 2021.
The board says last month's sales were 33.6 per cent higher than the 10-year November average.
The number of homes listed for sale in Metro Vancouver reached 7,144 last month, a 35.7 per cent decrease from 11,118 in November 2020 and a 11.1 per cent decrease from 8,034 in October 2021.
The benchmark price for a home in the region hit $1,211,200, up 16 per cent from last November and one per cent from October 2021.
The board's economist says the figures indicate that home sales will end the year at or near an all-time record for the region.
CTVNews.ca Top Stories
Western University researchers unlock potential 'cure' for ALS
New research out of London, Ont.'s Western University is shedding light on a potential cure for ALS, in which the targeting of the interaction between two proteins can halt or fully reverse the disease's progression.
Police release 3D images of young child found in an Ontario river two years ago
Police have released a three-dimensional image of a young child whose remains were discovered in the Grand River in Dunnville, Ont. almost two years ago.
B.C. brings in law on name changes on day that child killer's new identity revealed
The BC NDP have tabled legislation aimed at stopping people who have committed certain heinous acts from changing their names.
Kamala Harris drops F-bomb during White House live-stream
U.S. Vice-President Kamala Harris used a profanity on Monday while offering advice to young Asian Americans, Native Hawaiians and Pacific Islanders about how to break through barriers.
B.C. man fighting for refund after finding someone living at Whistler vacation rental
Edwin Mostered spent thousands of dollars booking a vacation home in Whistler, B.C., for a group skiing trip earlier this year – or so he thought.
Avs forward Valeri Nichushkin suspended at least six months
Colorado Avalanche forward Valeri Nichushkin was suspended for at least six months without pay and placed in Stage 3 of the league's player assistance program.
Collapsed Baltimore bridge span comes down with a boom after crews set off chain of explosives
Crews conducted a controlled demolition Monday to break down the largest remaining span of the collapsed Francis Scott Key Bridge in Baltimore.
Security video caught admitted serial killer disposing of bodies in Winnipeg garbage bins
Security video caught admitted serial killer Jeremy Skibicki on multiple late-night outings, disposing of body parts in nearby garbage bins and dumpsters in the middle of the night.
Mortgage companies could intensify the next recession, U.S. officials warn
U.S. officials worry the next recession could be intensified by a cascading series of failures in the mortgage industry caused by crashing home prices, frozen financial markets and soaring delinquencies.