Metro Vancouver’s housing market sees fewer home buyers and sellers in August. It is experiencing a quieter summer season marked by reduced sale and listing activity.
Home sales totaled 1,870 that is a 41% decrease compared to August 2021 and a 1% decrease compared to July 2022.
Home buyer and seller activity shifted below our long-term seasonal averages this summer. Inflationary pressure and interest rates on the rise are drivers of these trends. This shift in market conditions caused prices to edge down over the past four months.
Home buyers and sellers are taking more time to assess what this changing landscape means for their housing needs. Preparation is critical in today’s market. If you want to assess what today’s home prices, financing options, and other considerations mean for you, please give me a call.
Victor Song PREC*
Royal LePage Sterling Realty
604-779-8408
info@victorsong.com
www.victorsong.com
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.