Metro Vancouver Housing Update: August 2022
August is a time when vacations are calling, a new school year is approaching and buyers and sellers generally take time out to enjoy a quieter end to their summer season.
This year, August looked no different, as Metro Vancouver’s housing market experiencing reduced sale and listing activity.
Andrew Lis, Director of Economics and Data Analysis at the Real Estate Board of Greater Vancouver (REBGV), touched on additional factors also shaping last month’s trends, sharing that “With inflationary pressure and interest rates on the rise, home buyer and seller activity shifted below our long-term seasonal averages this summer. This shift in market conditions caused prices to edge down over the past four months.”
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.