July 2022 Market Insights
Metro Vancouver’s housing market has entered a new cycle marked by quieter home buyer demand and a gradual rise in the supply of homes for sale.
"Home buyers are exercising more caution in today’s market in response to rising interest rates and inflationary concerns. This allowed the selection of homes for sale to increase and prices to edge down in the region over the last three months," said Daniel John, Chair, REBGV
"After two years of market conditions that favoured home sellers, home buyers now have more selection to choose from and more time to make their decision,” John said. “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"
Here's Daniel John's summary of the July 2022 housing market statistics.
Looking for the full story? Get the July 2022 Monthly Market Report by going to the Market Watch section of our site.