Real estate market has seen records in sales and average price during 2022. The housing market experienced a year of caution in 2022 due to rising borrowing costs fueled by the Bank of Canada’s ongoing battle with inflation.
Last year’s sales total was 13.4 per cent below the 10-year sales average.
"The headline story in our market in 2022 was all about inflation and the Bank of Canada’s efforts to bring inflation back to target by rapidly raising the policy rate. This is a story we expect to continue to make headlines into 2023, as inflationary pressures remain persistent across Canada,"
Andrew Lis, REBGV Director, economics and data analytics
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 7,384, a 41 per cent increase compared to December 2021 (5,236) and a 19.6 per cent decrease compared to November 2022 (9,179).
Here's a summary of the November 2022 housing market statistics:
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