Home sales continue to slump in Metro Vancouver

The board reported Wednesday that only 1,887 were sold in July, a 43.3 per cent decrease from the 3,326 homes sold in July 2021. That number also represents a 22.8 per cent drop from the 2,444 homes sold in June.REBGV chair Daniel John said home buyers are exercising more caution because of rising interest rates and inflationary concerns.

The total number of homes currently listed for sale on the MLS in Metro Vancouver is 10,288, which according to the report is a 4.4 per cent increase compared to July 2021 and a 1.3 per cent decrease compared to June.Article content “In today’s changing housing market, both home buyers and sellers should invest the time to understand what these changes mean for their personal circumstances.”

The benchmark price for a detached home in Metro Vancouver is $2,000,600. This represents an 11 per cent increase from last July but a 2.8 per cent decrease from June.

Excellent let the prices hit the floor.

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