Vancouver home sales surged in October amid lower borrowing costs, real estate board says

Greater Vancouver Realtors says home sales in the region jumped 31.9 per cent in October compared with the same month last year, marking potential early signs of a long-awaited rebound after the Bank of Canada’s four consecutive cuts to its key interest rate.

The real estate board said there were 2,632 sales of existing residential homes last month, which is just 5.5 per cent below the 10-year average after months of tracking approximately 20 per cent below those trends.

It said there were 5,452 newly listed properties, up 16.9 per cent from last year and 20 per cent above the 10-year seasonal average.