Data from the Real Estate Board of Greater Vancouver showed October’s home sales dropped 45.5 per cent to 1,903 compared to the 3,494 sales recorded for the same month last year. Activity did jump 12.8 per cent on a month-over-month basis.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
“Inflation and rising interest rates continue to dominate headlines, leading many buyers and sellers to assess how these factors impact their housing options,” said Andrew Lis, REBGV’s director of economics and data analytics. “With sales remaining near historic lows, the number of active listings continues to inch upward, causing home prices to recede from the record highs set in the spring of 2022.
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Well who would want to live in a crime ridden city!
Good
That’s just sales. Prices haven’t dropped
Prices are still too high. It is no longer a sellers' market. Buyers will stay on the sidelines until prices drop.
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