Vancouver House Listings Remain Low

New listings remained below long-term historical averages across the Metro Vancouver, BC, housing market in March. Data from the Real Estate Board of Greater Vancouver (REBGV) also indicates home sales are making a stronger than expected spring showing, despite elevated borrowing costs. Residential home sales in the region totaled 2,535 in March, a 42.5 per cent decrease from the 4,405 sales recorded in March 2022 and 28.4 per cent below the 10-year seasonal average of 3,540. There were 4,317 detached, attached, and apartment properties newly listed for sale. This represents a 35.5 per cent decrease compared to the 6,690 homes listed in March 2022 and was 22.3 per cent below the 10-year seasonal average of 5,553.