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Metro Vancouver home listings drop to lowest level since 2016
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Dip in home sales and new listings in Metro Vancouver in July
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“The past two months have shown a market that’s shifting toward more historically typical conditions.”
June 2021 saw 5,849 homes newly listed for sale, which is a 1.1% year-over-year uptick, and an 18% decrease compared to the previous month.
The total number of homes listed for sale at the end of June 2021 was 10,839 a 5.1% year-over-year decrease, and a 1.2% drop from May 2021.
The sales-to-active listings ratio across all property types over the month was 34.7%, with 27.5% for detached homes, 49.2% for townhomes, and 37% for apartments.
Economists say a downward pressure on home prices generally occurs when the ratio dips below 12%, while home prices often trend upward when the ratio exceeds 20% over several months.
Seller beware: Real estate agencies can collect their fee even if a buyer defaults on a sale, B.C. man learns
Mike Armstrong and his wife are facing a lawsuit from their former real estate agency over commission after their buyer disappeared before the closing date for two cabins on Lake Errock.
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Professional standards expert says it s legal but rare for brokerage to demand commission in failed sale
Posted: May 06, 2021 5:00 AM PT | Last Updated: May 6
Mike Armstrong and his wife are facing a lawsuit from their former real estate agency over commission after their buyer disappeared before the closing date for two cabins on Lake Errock. (Christian Amundson/CBC News)
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