It wasn’t only the ghost stories, carved pumpkins, and ghoulish get-up’s spooking people across the Metro Vancouver region last month, the local property market was too!
Inflation and rising interest rates have created ongoing caution for buyers and sellers, with home sale activity trending well below historical averages for October.
Andrew Lis, Director of Economics and Data Analysis at the Real Estate Board of Greater Vancouver (REBGV) commented on these trends saying, “Inflation and rising interest rates continue to dominate headlines, leading many buyers and sellers to assess how these factors impact their housing options. 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.”
Post Your Comment: