May 2024 Market Update

Greater Vancouver home sales rise as inventory reaches levels not seen since pandemic

Greater Vancouver's real estate board says the number of homes that changed hands in April rose 3.3 per cent from the previous year, but total sales were still well below the 10-year average for the month.

Greater Vancouver Realtors, formerly known as the Real Estate Board of Greater Vancouver, says there were 2,831 home sales in the region last month, compared with 2,741 sales recorded in April 2023.

READ MORE

B.C. Real Estate News

LOWER MAINLAND

B.C. immigrant parents lead in co-purchasing homes for adult children, statistics show (Burnaby Now)

Greater Vancouver home sales hit post-pandemic high (Victoria News)

University Endowment Lands' mansion neighbourhood near UBC to see new housing density under BC legislation (DailyHive)

Hesitant Buyers Resulting In A Cool Fraser Valley Real Estate Market (STOREYS)

VICTORIA AND VANCOUVER ISLAND

'State of Nanaimo Economy' report shows too many residents are just getting by (Nanaimo News Bulletin)

OKANAGAN

Home prices, inventory and sales all jump in April as market starts to bloom (Castanet)

More real estate listings and lower prices in Kamloops, Okanagan (iNFOnews)

A number of Kelowna property owners could get a break on their 2024 taxes (Castanet)

Over 1,000 short-term rentals to come off the market in the Central Okanagan this week (North Shore News)

Peachland council ready to approve 7.74% property tax increase (Kelowna Capital News)

BRITISH COLUMBIA

BC government names 20 more cities that must meet new housing quotas (DailyHive)

NDP roll out secondary suite program, but critics challenge how effective it will be (CTV News)

B.C. secures eight new sites for middle-income rental housing scheme (Toronto Star)

Fort St. John ranks high in housing affordability (EnergeticCity.ca)

CANADA

Toronto Home Sales Fell 5% In April; Vancouver Sales Rose 3.3% (Baystreet.ca)