Slowing activity ushers us into a more balanced market in Metro Vancouver

With rising interest rates and inflationary concerns, sales activity continued to slow for the fourth-consecutive month in July. This series of events has created balanced conditions in the overall market, and conditions favouring buyers for the first time since spring 2020. Home buyers now have slightly more selection to choose from but more importantly, more time to make their decision. 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,207,400. This represents a 10.3 percent increase over July 2021 and a 2.3 percent decrease compared to June 2022.
 
Here is my July 2022 Snapstats newsletter.

Sincerely, 
Jennifer

Data is at the core of my real estate practice; with a well-informed and objective approach, I help my clients form and execute sound, well-considered plans to help them achieve their goals. My business is built solely on referrals from people like you. If you know anyone who would find value in this information and my assistance, I'd be more than happy to help them.