Real estate market is a hot topic in news, especially with rising interest rates that are impacting BC’s housing market. In Vancouver, it has had an impact, no question. Home sale activity across the Metro Vancouver housing market continued to trend well below historical averages in October.
The total number of homes for sale dropped. Inventory is down comparing the average of the last 4 years.
The slow-down tendency in sales creates a more balanced market and starts to favor buyers, after a long period of being in favor of sellers.
Here's a summary of the October 2022 housing market statistics:
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