July Market Update & June Statistics

Posted July 15, 2022

July 2022 Market Update

Metro Vancouver home sales in June dropped 35% from 2021 amid higher interest rates

The Real Estate Board of Greater Vancouver says last month’s home sales dropped by about 35 per cent since last June and 16 per cent from May 2022 as houses remained on the market longer and interest rates rose.

The B.C. board says sales in the region totaled 2,444 last month, down from 3,762 in June 2021, and 2,918 homes in May 2022.

Last month’s sales were 23.3 per cent below the 10-year June sales average.

The board’s chair Daniel John says the drop in sales came because buyers have more properties to choose from, but rising interest rates and 39-year high inflation are causing them to be cautious and thus, listings are staying available for longer.

Click the link below to view the monthly market statistics for your area in an easy to understand infographic. Listings, sales and prices are summarized for condos, townhomes and single-family homes in cities across BC. For more up-to-date market information please visit macrealty.com/blog.

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Cory Hunsche

July Market Update & June Statistics

July 2022 Market Update

Metro Vancouver home sales in June dropped 35% from 2021 amid higher interest rates

Summer Activities – Discover BC

B.C. Real Estate News

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