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Real Estate Market Update

Blog by June Conway | January 10th, 2019

Metro Vancouver home sales in 2018 were the lowest annual total in the region since 2000.  The last twelve months was a period of transition for the Metro Vancouver real estate market.  We moved away from the seller's market conditions we've been experiencing previous years to conditions more favorable to buyers.

REALTORS®  registered about 24, 619 home sales on MLS® in 2018.  This was a 32% decline from 2017 and 25% below the regions ten year sales average.

High home prices, rising interest rates and new mortgage requirements and taxes all contributed to the lower home buyer demand.

Listen to more about 'the year that was in the local real estate market' in the following video: