How well you think the Greater Vancouver real estate market is doing will depend on your perspective on the latest REBGV data. REBGV | realestate realestatenews Vancouver housingmarket
Home sales in the Greater Vancouver region were down compared to June, up compared to last year, but prices remain steady.How well you think the Greater Vancouver real estate market is doing will depend on your perspective.published by the Real Estate Board of Greater Vancouver on Wednesday, July saw a total of 2,428 home sales — an 18.2% decrease from the 2,968 in May, but a 27.5% improvement compared to July 2022.
In other words: market activity month-to-month is not great, but better year-over-year. However, comparisons to last July may also have to be taken with a grain of salt, as that was when the Bank of Canada announced a 1% increase — the largest in the past two years. For the sales-to-new-listings ratio, a ratio of 40% or lower is considered to be favouring buyers, a ratio of 55% or higher is considered to be favouring sellers, and anything in between is considered a balanced market.
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