February’s Residential Housing Market
Buying a home can take time.
For current buyers, there’s even more inventory to consider, a housing pool that is continuing to inch upwards across Metro Vancouver*. Although residential options have risen, February’s home sales were down 33% on the 10-year February sales average.
Andrew Lis, Director of Economics and Data Analytics at the Real Estate Board of Greater Vancouver (REBGV) commented on recent activity by saying, “It’s hard to sell what you don’t have, and with new listing activity remaining among the lowest in recent history, sales are struggling to hit typical levels for this point in the year. On the plus side for prospective buyers, the below-average sales activity is allowing inventory to accumulate, which is keeping market conditions from straying too deeply into sellers’ market territory, particularly in the more affordably priced segments.”
Read more...
https://stilhavn.com/metro-vancouver-housing-update-february-2023/
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), 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 GVR, 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 GVR, the FVREB or the CADREB.
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