Drop in home prices offset by high interest rates, so far
Sales were also 38 per cent below the 10-year December average
High interest rates will hold back shoppers in other parts of the country
Home prices slowly beginning to improve, but overall affordability still down
Composite benchmark price for Metro Vancouver sat at $1,148,900
September sales were down 3.9 per cent compared with August
Last month’s sales were almost 36 per cent below the 10-year September sales average
National average home price reached a peak of $839,600 in February 2022
Drops attributed to pressures tied to Bank of Canada’s continued hikes to its key interest rate.
Drop in sales came as the number of newly listed homes fell 5.5 per cent on a month-over-month basis
Vanderhoof company wins awards for work they are doing in Fort St. James
The seasonally adjusted annual rate of housing starts fell 1.5% to 282,070 units in June compared to 286,296 in May
47 homes sold for more than $1 million last month the third hottest June ever
Canadian Real Estate Association predicting 2021 will see transactions rise 23.8 per cent
