Vancouver detached house prices up 12.5% year over year

The average price of a detached home in metropolitan Vancouver rose 12.5 per cent in April amid below-average listings, the Real Estate Board of Greater Vancouver said Monday in a statement. The average price climbed to $1.08 million from the same month a year earlier, the board said. Home sales rose 37 per cent to 4,179 units in the month, from 3,050 a year earlier. “The supply of homes for sale today in the region is not meeting the demand we’re seeing from home buyers,” Darcy McLeod, the board’s president, said in the statement. “This is putting upward pressure on prices, particularly in the detached h o me market.” Bloomberg News