{"id":734,"date":"2018-08-08T17:06:55","date_gmt":"2018-08-08T21:06:55","guid":{"rendered":"https:\/\/www.kanavero.com\/blog\/?p=734"},"modified":"2018-08-08T17:06:55","modified_gmt":"2018-08-08T21:06:55","slug":"real-estate-market-report-july-2018","status":"publish","type":"post","link":"https:\/\/www.kanavero.com\/blog\/2018\/08\/real-estate-market-report-july-2018\/","title":{"rendered":"Real Estate Market Report – July 2018"},"content":{"rendered":"

Housing supply up, demand down across Metro Vancouver<\/h2>\n

July\u2019s residential housing sales in Metro Vancouver* reached their lowest levels for that month since the year 2000.\u00a0The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,070 in July 2018, a 30.1 per cent decrease from the 2,960 sales recorded in July 2017, and a decrease of 14.6 per cent compared to June 2018 when 2,425 homes sold.\u00a0Last month\u2019s sales were 29.3 per cent below the 10-year July sales average.<\/p>\n

\u201cWith fewer buyers active in today\u2019s market, we\u2019re seeing less upward pressure on home prices across the region,\u201d Phil Moore, REBGV president said. \u201cThis is most pronounced in the detached home market, but demand in the townhome and apartment markets is also relenting from the more frenetic pace experienced over the last few years.\u201d<\/p>\n

There were 4,770 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service\u00ae (MLS\u00ae) in Metro Vancouver in July 2018. This represents a 9.2 per cent decrease compared to the 5,256 homes listed in July 2017 and a 9.6 per cent decrease compared to June 2018 when 5,279 homes were listed.<\/p>\n

The total number of properties currently listed for sale on the MLS\u00ae system in Metro Vancouver is 12,137, a 32 per cent increase compared to July 2017 (9,194) and a 1.6 per cent increase compared to June 2018 (11,947).<\/p>\n

\u201cSummer is traditionally a quieter time of year in real estate. This is particularly true this year,\u201d Moore said. \u201cWith increased mortgage rates and stricter lending requirements, buyers and sellers are opting to take a wait-and-see approach for the time being.\u201d<\/p>\n

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

 <\/p>\n

Information provided by the Real Estate Board of Greater Vancouver<\/em><\/p>\n

Photo: Instagram <\/em>@JennChanPhotography<\/em><\/p>\n

<\/h3>\n","protected":false},"excerpt":{"rendered":"

Housing supply up, demand down across Metro Vancouver July\u2019s residential housing sales in Metro Vancouver* reached their lowest levels for that month since the year 2000.\u00a0The Real Estate Board of … [read more<\/a>]<\/p>\n","protected":false},"author":5,"featured_media":735,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1,2],"tags":[],"_links":{"self":[{"href":"https:\/\/www.kanavero.com\/blog\/wp-json\/wp\/v2\/posts\/734"}],"collection":[{"href":"https:\/\/www.kanavero.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kanavero.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kanavero.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kanavero.com\/blog\/wp-json\/wp\/v2\/comments?post=734"}],"version-history":[{"count":2,"href":"https:\/\/www.kanavero.com\/blog\/wp-json\/wp\/v2\/posts\/734\/revisions"}],"predecessor-version":[{"id":744,"href":"https:\/\/www.kanavero.com\/blog\/wp-json\/wp\/v2\/posts\/734\/revisions\/744"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kanavero.com\/blog\/wp-json\/wp\/v2\/media\/735"}],"wp:attachment":[{"href":"https:\/\/www.kanavero.com\/blog\/wp-json\/wp\/v2\/media?parent=734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kanavero.com\/blog\/wp-json\/wp\/v2\/categories?post=734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kanavero.com\/blog\/wp-json\/wp\/v2\/tags?post=734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}