VANCOUVER WEST JUNE HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reports that last month, Real Estate sales are 23.3 percent below the 10 year average for June. Caution amongst Buyers, concerned with inflation and fluctuating interest rates, is mitigating their purchasing. Oversupply is not the cause of the current downward pressure on prices as inventory of new listings last month is 10.1 percent lower than June a year ago and total inventory of listed properties falls 3.8 percent year to year. Annual sales of all residential properties in Metro Vancouver decrease 35 percent last month. The composite value of all properties is 12.4 percent higher June to June.
The graph shows a drop of 7.1 percent from May to June in the average price for detached properties. The benchmark price for houses in June 2022 is 13.4 percent higher than last June. Year to year the volume of detached home sales is down by 48.3 percent.
Last month versus June 2021,
From May to June west side house sales drop 15.5 percent. Month to month detached inventory is down 18.6 percent.