Vancouver Home Sales Begin To Ease

Home sale and listing activity in metro Vancouver, BC, has eased back from the record-setting pace seen in March and April of this year. The Real Estate Board of Greater Vancouver (REBGV) says residential home sales in June had a 54 per cent increase year-over-year. Additionally, there was an 11.9 per cent decrease from homes sold in May 2021. “With low-interest rates, a growing economy, and an improving job market, the metro Vancouver housing market continues to enjoy solid economic fundamentals,” says Keith Stewart, economist at REBGV. “We’re now seeing a market that’s beginning to normalize from the torrid pace in the spring. This is making multiple offers less common, allowing subjects to be seen on offers more frequently again, and is making new price records less likely.”