House sales in Vancouver almost doubled last month compared to the same period last year as people looking for a home re-entered the market following tougher mortgage rules and efforts to stem foreign owner speculation, according to the Real Estate Board of Greater Vancouver.
Sales of detached homes in December rose 72 per cent to 599 from 348 a year earlier while the benchmark price fell 4 per cent to $1.423 million during the period, according to the board. During 2019, confidence in the housing market played a strong role in affecting seasonal patterns, according to board president Ashley Smith. Activity was subdued during the normally strong spring period while buyers returned to the market in the year’s second half, she said.
The number of new listings in December increased 13 per cent to 1,588 detached, attached and apartment properties from 1,407 new listings a year earlier, the board said.
MichelleRempel Thanks Trudeau