The Real Estate Board of Greater Vancouver says January home sales slowed from a record-setting pace last year as the number of properties available dropped.
The B.C. board says home sales totalled 2,285 las month, an almost five per cent decrease from 2,389 in January 2021 and a 15 per cent fall from 2,688 in December 2021.
However, the board says sales last month were 25.3 per cent above the 10-year January average.
The board also recorded 4,170 new listings last month, down almost seven per cent from 4,480 homes last January, but more than double December 2021, when 1,945 homes were listed.
-
![]()
How domestic investors are fuelling Canada’s hot housing market -
![]()
Vancouver housing market experiences low vulnerability rate: CMHC -
![]()
Open House: Fall housing market lookahead -
![]()
Secret CRA study has shocking information on Metro Vancouver real estate sales -
![]()
$42M sale of Vancouver mansion sets new real estate record -
![]()
Open House: Rent-to-own properties -
![]()
March saw unprecedented home sales in Metro Vancouver -
![]()
Canada’s million dollar real estate club grows -
![]()
Open House: Predicting B.C. real estate trends for 2021 -
![]()
Home sales take off across Metro Vancouver
The benchmark price for all residential properties in the region reached more than $1.2 million last month, up 18.5 per cent from last January and two per cent from December.
Get breaking National news
The board’s economist Keith Stewart says conditions in the market remain tight because there is a lack of supply and a lot of people taking advantage of low interest rates.
“Our listing inventory on MLS is less than half of what would be optimal to begin the year. As a result, hopeful homebuyers have limited choice in the market today,” he said, in a statement.
“This trend is causing fierce competition for a scarce number of homes for sale, which, in turn, increases prices.”
Comments