Buying in Burnaby: Local real estate jumps 8% from October
Sales of Burnaby real estate increased in October, with a rise in interest from homebuyers despite slight price increases. The benchmark prices for residential properties varied across different areas of Burnaby. Single-family detached homes also saw price increases. The Real Estate Board of Greater Vancouver reported an overall increase in local sales for all types of housing. However, there was a decrease in the number of homes available for sale compared to the previous month. The market conditions are becoming more balanced, with increased supply and slower sales. Borrowing costs continue to impact affordability, but price increases have slowed down.