January home sales down 55% from year earlier, 21% from Dec: Vancouver board

VANCOUVER — The Real Estate Board of Greater Vancouver says January home sales were more than halved from the year before and down 21 per cent from December.

The board says sales for the month totalled 1,022, a 55 per cent drop from the prior January.

The number of homes that changed hands last month was also 42.9 per cent below the 10-year January sales average.

The board attributed the quiet month to mortgage rates, which have risen rapidly over the last year and weighed on homebuyer intentions.