Fewer listings, strong demand helps Vancouver-area real estate rally

Strong demand helps Vancouver real estate rebound

VANCOUVER — Home sales in Metro Vancouver are bouncing back after a dismal February, but the Real Estate Board of Greater Vancouver says transactions are still almost 31 per cent below the March 2016 record.

The board says a shortage of property listings and strong demand, especially for condos and townhomes, propelled the market in March.

Board president Jill Oudil says sellers still seem reluctant to put their homes on the market, creating stiff competition for homebuyers.

The numbers of new listings haven’t been this low since March 2009.

Oudil says the competition also means home prices are likely to continue to increase until we see more housing supply coming on the market.

The composite benchmark price in March for all residential properties in Metro Vancouver is over $919,000, a 1.4 per cent increase compared with February.


The Canadian Press

Just Posted

Old timbers grace new Timmy’s

The newest Tim Hortons just outside of Oliver was officially opened Saturday

Penticton Bantam Elks hockey win league title

The Penticton bantam Rec 1 BPO Elks team won the South Central Bantam Recreation Championship

Strong showing for local gymnasts

Local competitors do well in provincials

Okanagan-Similkameen region’s natural beauty subject of photo contest

The South Okanagan Naturalists’ Club invites regional amateur photographers to submit their photos

Penticton Vees erase two-goal deficit to defeat Trail

The Vees take Game 1 of the second round of the BCHL playoffs

VIDEO: B.C. Mounties reunite veteran with lost military medals

RCMP say Zora Singh Tatla, who served in the army in India for 28 years, is the righful owner

How to keep local news visible in your Facebook feed

Facebook has changed the news feed to emphasize personal connections. You might see less news.

Canucks snap scoreless streak but fall short in 5-3 loss to Sharks

Swiss forward Timo Meier nets two, including the game-winner, to lead San Jose

4 facts to ring in St. Patrick’s Day

What do you really know about the Irish celebration?

Experts urging caution as rabbits die by the hundreds in B.C. city

Province of B.C. confirms more positive tests for rabbit haemorrhagic disease

Federal government seeks public feedback on pedestrian safety

What safety measures do you think need to improved for pedestrians and cyclists?

Search continues for 10-year-old Montreal boy missing since Monday

Montreal police said they are exploring every possibility in search for Ariel Jeffrey Kouakou

Airline passenger-rights bill claws back protections for travellers: Advocate

Bill C-49 would double tarmac delays, scrap compensation for flights affected by mechanical failures

Most Read