Metro Vancouver’s housing market saw more moderate sales listing and pricing trends in July compared to the heightened activity experienced throughout much of the pandemic.
Moderation was the name of the game in July. Home sales and listings fell in line with typical seasonal patterns as summer got going. On top of moderating market activity, price growth has leveled off in most areas and home types.
Low housing supply remains a fundamental factor in Metro Vancouver’s housing market. Going forward, the supply of homes for sale will be an important factor to watch. Other factors to consider include the opening up of the borders and increasing immigration which will impact the real estate market.
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Victor Song PREC*
Royal LePage Sterling Realty