From Jun 2018 REBGV report,  the supply is higher and the demand lower in housing market of Greater Vancouver.   From the report, it also mentioned that  “Buyers are less active today. This is allowing the supply of homes for sale to accumulate to levels we haven’t seen in the last few years,” Phil Moore, REBGV president said. “Rising interest rates, high prices and more restrictive mortgage requirements are among the factors dampening home buyer activity today.”

Find the latest Vancouver real estate market report and download below:

With home sale activity dipping below long-term historical averages, the supply of homes for sale in Metro Vancouver reached a three-year high in June.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,425 in June 2018, a 37.7 per cent decline from the 3,893 sales recorded in June 2017, and a 14.4 per cent decrease compared to May 2018 when 2,833 homes sold.

Last month’s sales were 28.7 per cent below the 10-year June sales average.

Read More below:

http://www.vancouver-housing.ca/real-estate-market-update-jun-2018-home-seller-supply-grows-demand-declines/

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