Home sales rise in Vancouver area as newly listed properties add to supply, real estate board says

Home sales in the Vancouver area increased last month due to a rise in newly listed properties, giving buyers a larger selection. However, sales were still below the 10-year seasonal average. The total number of home sales in November was 1,702, a 4.7% increase from the previous year but 33% below the seasonal average. There were 3,369 new listings, a 9.8% increase from the previous year. The composite benchmark home price in Metro Vancouver was $1,185,100, a 4.9% increase from the previous year. Market conditions are expected to be favorable for buyers in the coming year.