Vancouver resale home market surges 252% in November over 2008

Vancouver led the Canadian housing market in November existing home sales with a 252-per-cent year-to-year surge.

Victoria (+116 per cent), Toronto (+105 per cent) and Calgary (+67 per cent) followed close behind as Canada as a whole saw a 73-per-cent increase in existing home sales, according to the Canadian Real Estate Association.

Prices were also led last month by Vancouver's 22-per-cent year-over-year rise in existing home prices.

Nationally, the 73-per-cent jump in November from a year earlier came as the real estate market continued to recover from the economic downturn.