Prices and homes listed up, sales down in Metro Vancouver real estate market
VANCOUVER — The supply of homes in Metro Vancouver’s real estate market hit a three-year high as sales dipped below historical averages last month.
The Real Estate Board of Greater Vancouver reports there were 2,425 home sales last month, a 37.7 per cent decline from June 2017.
Board president Phil Moore says rising interest rates, high prices and more restrictive mortgage requirements are among the factors dampening home buying activity.
Moore says that has allowed the supply of homes for sale to reach levels that they have not seen in the last few years.