How is activity in the Greater Vancouver region shaping up?

Housing industry association reveals the latest in the market

How is activity in the Greater Vancouver region shaping up?

Home sales in Greater Vancouver returned to more “historically typical” levels in April, according to the region’s housing industry association.

The latest data from the Real Estate Board of Greater Vancouver showed that the market saw a total of 3,232 sales last month.

However, while this was 1.5% above the 10-year sales average for the month, this was also a marked decline from the 4,344 transactions in March and the 4,908 sales in April 2021, the REBGV said.

The region had 6,107 new listings – including detached, attached, and apartment properties – last month, down by 8.5% monthly and down by 23.1% annually.

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Together, these trends represent a much-needed respite for would-be home buyers, who would now have more time to make decisions, secure financing, and conduct home inspections, said REBGV chair Daniel John.

 The composite benchmark price for all residential properties across the Metro Vancouver market reached nearly $1.375 million, having increased by 1% from March and by 18.9% from April 2021, the REBGV said.

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