Market Update

Check out the information below for the latest on what the market in Metro Vancouver is doing

Market Update

Source: The Real Estate Board of Greater Vancouver

Market shifts below long term seasonal averages

August 2022 home sales were down 0.9% compared to July 2022, and were 29.2% below the 10-year August sales average.

Over the past 4 months, prices have continued to edge down due to inflationary pressures and rising interest rates.

Home buyers are taking additional time to assess their financial situations and what this changing landscape means for them. It's important for buyers to prepare for the future by looking into their financing options & discussing home prices as well as other considerations with a real estate professional.

Many home sellers have also decided to wait to list their homes due to this changing market. This has caused the selection of homes to decrease by 6.1% compared to July 2022.

Quarterly Housing Update

Q3 2021 - Interest Rate Trends

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Irfan Keshavjee

RE/MAX Crest Realty

#1 - 5050 Kingsway  Burnaby,  B.C.  V5H 4C2 

Mobile: 604-619-6786

irfan@irfankeshavjee.com

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Get In Touch

Irfan Keshavjee

Mobile: 604-619-6786

irfan@irfankeshavjee.com

Office Info

RE/MAX Crest Realty

#1 - 5050 Kingsway  Burnaby,  B.C.  V5H 4C2 

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