Home listings up, sales down and prices starting to decrease to start the summer season
July 2022 Vancouver Real Estate Market Report
Home listings up, sales down and prices starting to decrease to start the summer season
With interest rates and housing supply increasing, Metro Vancouver home buyers are operating in a changing marketplace to begin the summer season.
Home buyers have more selection to choose from and more time to make decisions than they did over the past year. 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.?To meet Metro Vancouver’s long-term housing demands, we still need to significantly increase housing supply.
Full Report:?www.davidvalente.com/MarketNewsletter