Greater Vancouver housing sales rebound in November.Derrick Penner
Vancouver Sun
Monday, December 17, 2007
A significant November rebound in Greater Vancouver housing re-sales helped push overall activity above 2006 levels, the Canadian Real Estate Association reported. The association registered 2,952 sales through the Multiple Listing Service, a 22 per cent increase from the same month a year ago.
As of the end of November, Greater Vancouver saw 37,021 units change hands, which is 6.6 per cent more than the number of units that were sold up to the same point in 2006.
The average unit price topped $577,000 in November, up 11.2 per cent from the same month a year ago.
Across Canada's major markets, housing MLS sales surged to a new annual re-sale record of 345,577, up 2.5 per cent from the previous high of 336,646 reached in 2005. "Demand remains strong due to continuing job and income growth and upbeat consumer confidence," Gregory Klump, association chief economist said in a press release.
However, in an interview, added that pending tax changes in Ontario likely spurred some Ontario buyers to rush their decisions to buy.
