As the warmer weather ramped up across Metro Vancouver last month, the demand for residential property continued to ease. With the gradual rise in home supply, buyers were still taking things slow, spending more time assessing the market and enjoying being able to weigh up their options.
“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”, says Daniel John, Chair of the Real Estate Board of Greater Vancouver (REBGV).
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