Vancouver home sales fall 19% in June as inventory continues to build: board
BNN Bloomberg
Greater Vancouver's real estate board says the number of homes sold in June tumbled 19.1 per cent from the previous year as inventory continued accumulating to levels not seen since the spring of 2019.
Greater Vancouver Realtors says there were 2,418 home sales in the region last month, 23.6 per cent below the 10-year seasonal average for June and down from 2,988 sales recorded in June 2023.
That came as the number of Metro Vancouver homes listed for sale soared 42 per cent year-over-year to 14,182, which is around one-fifth higher than the 10-year seasonal average.
Andrew Lis, the board's director of economics and data analytics, says the June data marks the continuation of a trend where buyers appear "hesitant," despite sellers remaining keen to list their properties. He says the result is improved selection for buyers and more balanced conditions.
