Vancouver real estate: Pace of home sales slowed in August but prices still rising, board says
The Real Estate Board of Greater Vancouver says the city's home sales have slowed from a frenzied pace earlier this year, but supply has dwindled all summer and prices are continuing to rise.
The board says August home sales in the region totalled 3,152, a 3.4 per cent increase from 3,047 last August, but a 5.2 per cent decrease from 3,326 in July.
The board says sales last month were about 20 per cent higher than the 10-year August sales average.
The month saw 4,032 new listings, down 30.6 per cent from 5,813 last August and off 7.9 per cent from 4,377 in July.
The board says its multiple listing service composite benchmark price for all residential properties reached $1,176,600 in August, up 13.2 per cent from the same period last year and a 0.1 per cent increase from July.
The board's economist Keith Stewart says the figures indicate that housing supply has become one of the biggest issues facing the market.
“August was busier than expected, and listings activity isn't keeping up with the pace of demand,” he says in a release.
“This is leaving the market under supplied.”
This report by The Canadian Press was first published Sept. 2, 2021.
A search is underway for an overdue fishing vessel with two men on board that departed a small coastal community in Labrador on Friday morning.
Prince Edward Island's Opposition leader says a rise in COVID-19 cases has revealed the inappropriateness of a public scolding dished out by the premier over criticisms of the government's back-to-school pandemic policies.
A court injunction against old-growth logging protests on Vancouver Island will remain in effect beyond its expiry date later this month at least temporarily, says a judge who will rule on its future.
Ottawa's COVID-19 Testing Taskforce working to expand capacity as demand for testing increases in SeptemberWith parents scrambling to find COVID-19 testing appointments for their children in the capital this weekend, Ottawa's COVID-19 Testing Taskforce says more appointments for children will open up at the Brewer Arena as staffing levels increase.
Prince Edward Island is reporting three new cases of COVID-19 on Saturday as the active case count rises to 46.
A 21-year-old man is dead and another suffered minor injuries after a shooting in Toronto Friday night.
Waterloo Region reported 36 new COVID-19 cases on Saturday as the active case count continues to grow.
The Sault Ste. Marie Chamber of Commerce is banking on local talent to help make its case for the Soo as a music destination.
Spiritwood RCMP are investigating a death that’s considered suspicious from earlier this week.