Greater Vancouver Home Sales Rise in December, Signal Market Shift

Greater Vancouver home sales rose 31.2 percent on a year-over-year basis in December, capping a 'pivot year' for the market where the number of homes that changed hands in the region ticked higher. Greater Vancouver Realtors says the 1,765 home sales last month were still 14.9 percent below the 10-year seasonal average for December.The composite benchmark price was $1,171,500, up 0.5 percent from a year earlier and 0.1 percent below November's level. Overall, home sales throughout 2024 rose 1.

2 percent from the previous year, but the 26,561 total transactions were still 20.9 percent below the 10-year annual sales average. The board's director of economics and data analytics Andrew Lis says that with borrowing costs on the decline, buyers have 'started to show up in numbers after somewhat of a hiatus,' which is reflected in recent monthly data

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