MAY BRINGS A CALM TO THE METRO VANCOUVER HOUSING MARKET...
REBGV MAY 2022 MONTHLY MARKET UPDATE
After reaching record-setting levels in 2021, home sale activity has returned to more typical seasonal levels in Metro Vancouver* this spring due, in large part, to rising interest rates.
"With interest rates rising, home buyers are taking more time to make their decisions in today’s housing market. Home buyers have been operating in a frenzied environment for much of the past two years. This spring is providing a calmer environment, with fewer multiple offer situations, which is allowing buyers to explore their housing options, understand the changing mortgage market, and do their due diligence."
Daniel John, Chair, REBGV
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