Vancouver repeat home sales inch upward in January

Repeat home sales prices increased 0.3% in Vancouver in January | Shutterstock

Vancouver repeat home sales prices increased 0.3% in January, ending a three-month streak of declines, according to the most recent Teranet Home Price Index, which measures changes in price for repeat sales of single family homes.

The city’s price increase is lower than the national average growth for the month.

“In January, the [index] was up 0.5% from the previous month, matching the largest January increases in the 18-year history of the index in 2003 and 2010,” Teranet said in a report.

“The composite index rose above 200 in January, signaling that home prices in the 11 markets as a whole have doubled since June 2005.”

The biggest price increases across Canada were seen in Hamilton (up 1.1%), Toronto (up 0.8%) and Montreal (0.8%). Prices fell in Winnipeg (down 0.7%), Ottawa-Gatineau (down 0.7%) and Edmonton (down 0.1%).

Earlier this month, the Real Estate Board of Greater Vancouver said sales prices across the region fell about 7% between July 2016 and January of this year. These figures differ from today’s data because the REBGV looks at all home sales, not just repeat sales of single family dwellings.

ecrawford@biv.com

@EmmaHampelBIV

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