Hot Vancouver Housing Market

April 10, 2015

in Vancouver real estate

Burnaby detched house

Canadian Press | March 10, 2015 | Last Updated: Mar 10 2:45

Spring has come early for both Toronto and Vancouver

Rock-bottom interest rates, a scarcity of supply and growing demand from millennials and wealthy immigrants have fuelled a strong start to the spring real estate season in Toronto and Vancouver.

The number of active listings — which indicates the supply of homes for sale — at the end February dropped by 8.7 per cent from a year ago, leading to heightened competition between buyers.

In Vancouver, home sales were up 21 per cent in February compared to a year ago, while prices rose by 6.4 per cent.

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