Vancouver home resale numbers, prices were up in May
Posted June 17, 2013 8:51 am.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – Vancouver’s housing market correction might or might not be over, but May was a strong month for home resales and prices.
The Canadian Real Estate Association says May’s activity in Greater Vancouver boosted the national average resale home price for the first time since 2011. It says Vancouver had “exerted a downward pull” for almost two years.
The industry group says Metro Vancouver home resales rose 8.4 per cent from the previous month and 1.4 per cent from a year earlier. The average price of $733,000 was up 5.4 per cent from a year ago and 1.4 per cent higher than April.
Market balance was also helped by an 18.2 per cent decrease in new listings compared to the previous May.
The home price index, which is not affected by the mix of sales, has Greater Vancouver at 156.9. That’s down 4.3 points from a year earlier and the biggest decline among cities in the index.
