Whether you’re looking to buy or sell real estate, knowledge is the key. Market analysis and statistics, will help identify the best opportunities that are available to you when you make your move.
Last month’s sales were 36.9 percent below the 10-year November sales average according the data from Real Estate Board of Greater Vancouver.
"With the most recent core inflation metrics showing a stubborn reluctance to respond significantly to the furious pace of rate increases, the Bank of Canada may choose to act more forcefully to bring inflation back toward target levels. While it’s always difficult to predict what the bank will do with certainty, this persistent inflationary backdrop sets up the December 7 rate announcement to be yet another increase, making holiday-season home purchases something people may end up foregoing this year."
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 9,179, a 28.5 per cent increase compared to November 2021 (7,144) and a 6.8 per cent decrease compared to October 2022 (9,852).
Here's a summary of the November 2022 housing market statistics:
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