{"id":713,"date":"2018-07-17T20:27:59","date_gmt":"2018-07-18T00:27:59","guid":{"rendered":"https:\/\/www.kanavero.com\/blog\/?p=713"},"modified":"2018-07-17T20:27:59","modified_gmt":"2018-07-18T00:27:59","slug":"real-estate-market-report-june-2018","status":"publish","type":"post","link":"https:\/\/www.kanavero.com\/blog\/2018\/07\/real-estate-market-report-june-2018\/","title":{"rendered":"Real Estate Market Report \u2013 June 2018"},"content":{"rendered":"

Home seller supply grows as demand declines<\/h2>\n

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.<\/p>\n

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.<\/p>\n

Last month\u2019s sales were 28.7 per cent below the 10-year June sales average.<\/p>\n

\u201cBuyers are less active today. This is allowing the supply of homes for sale to accumulate to levels we haven\u2019t seen in the last few years,\u201d Phil Moore, REBGV president said. \u201cRising interest rates, high prices and more restrictive mortgage requirements are among the factors dampening home buyer activity today.\u201d<\/p>\n

There were 5,279 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service\u00ae (MLS\u00ae) in Metro Vancouver in June 2018. This represents a 7.7 per cent decrease compared to the 5,721 homes listed in June 2017 and a 17.2 per cent decrease compared to May 2018 when 6,375 homes were listed.<\/p>\n

The total number of homes currently listed for sale on the MLS\u00ae system in Metro Vancouver is 11,947, a 40.3 per cent increase compared to June 2017 (8,515) and a 5.8 per cent increase compared to May 2018 (11,292). This is the highest this total has been since June 2015.<\/p>\n

\u201cWith reduced demand, detached homes are entering a buyers\u2019 market and price growth in our townhome and apartment markets is showing signs of decelerating,\u201d said\u00a0Moore.<\/p>\n

 <\/p>\n

\"\"<\/a> \"\"<\/a> \"\"<\/a> \"\"<\/a> \"\"<\/a> \"\"<\/a> \"\"<\/a> \"\"<\/a><\/p>\n

Taken from: Real Estate Board of Greater Vancouver<\/p>\n

Photo credit: Duedelum –\u00a0Dan Lum on Instagram<\/p>\n","protected":false},"excerpt":{"rendered":"

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