REBGV JUNE 2022 MONTHLY MARKET STATISTICS
Home listings Up, Sales Down and Prices Starting to Decrease to Start the Summer Season.
Last month’s sales were 23.3 per cent below the 10-year June sales average.
“Home buyers have more selection to choose from and more time to make decisions than they did over the past year,” Daniel John, REBGV Chair said. “Rising interest rates and inflationary concerns are making buyers more cautious in today’s housing market, which is allowing listings to accumulate.”
“We’re seeing downward pressure on home prices as we enter summer in Metro Vancouver due to declining home buyer activity, not increased supply,” John said. “To meet Metro Vancouver’s long-term housing demands, we still need to significantly increase housing supply.”
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