Vancouver Real Estate Statistics for March Show a Balancing Market
The Greater Vancouver real estate market saw increases listings and decreased sales last month, yet prices continued to climb. That is not how it is supposed to work, but lets reserve opinion for a month or two and see what happens. Sellers always suffer a hang-over prices inflation as they re-adjust to the idea that the demand for the product may not be there anymore.
The Real Estate Board of Greater Vancouver has a new president now, Dave Watt from Royal LePage Northshore. Here is his first quote of the month:
“The market is continuing to balance, with sales and listings beginning to re-align with our 10-year averages,” says REBGV president, Dave Watt. “The selection of inventory hitting the market is wider than we have seen in the past few years, which gives prospective buyers more choices.”
Time is short today so I will leave it to that. The report is attached below and the reports for the last year can be found on the Statistics and Reports page of my website.
Matthew Collinge: Vancouver REALTOR®