Vancouver saw an increase in home sales last month, but the city's real estate board says new listings outpaced demand. While sales were up 8.8% year-over-year, they remain below the 10-year average. The market is showing signs of a shift towards sellers, with a 46.9% increase in new listings compared to January 2024. The board predicts moderate price growth this year, but cautions that potential U.S. tariffs or economic shocks could impact the market.
The number of homes that changed hands in the Vancouver area rose again last month, but the city's real estate board says new listings outpaced demand as sellers showed they're eager to enter the market.
“Even with this increase in new listing activity, sales continue to outpace last years’ figures, signalling some buyer appetite remains after the upswing that finished off 2024.” Lis said the momentum shift in market dynamics has helped preserve balance and limit price fluctuations. Lis said the board is forecasting moderate price growth by the end of the year, but cautioned that potential U.S. tariffs on Canadian goods or other economic shocks could alter those estimates.
VANCOUVER REAL ESTATE HOME SALES MARKET TRENDS NEW LISTINGS PRICE GROWTH
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Vancouver Housing Market Forecast: 7% Price Increase and 20% Sales Surge by 2025Re/Max Canada predicts significant growth in the Vancouver housing market by 2025, driven by first-time buyers and regulatory changes.
Read more »
Vancouver mayor to boycott Metro Vancouver meetings over ‘broken’ governanceOn Wednesday, the mayor of the largest city in the region announced he would boycott Metro Vancouver meetings.
Read more »
US Existing Home Sales Decline to Near 30-Year Low in 2024Sales of previously occupied U.S. homes fell in 2024 to a near 30-year low for the second consecutive year, driven by elevated mortgage rates, rising home prices, and limited inventory. The National Association of Realtors reported that existing U.S. home sales totaled 4.06 million last year, marking the weakest year for home sales since 1995. The median national home price for 2024 rose 4.7% to an all-time high of $407,500.
Read more »
Greater Toronto home sales dip in December to cap 'transitionary' 2024: boardTORONTO — Greater Toronto home sales fell slightly last month to cap a year that saw buyers take advantage of 'substantial negotiating power' on price.
Read more »
Montreal home sales continue surge in December with 54% annual jump: boardThe Quebec Professional Association of Real Estate Brokers says Montreal-area home sales continued climbing in December, with 54.1 per cent more properties changing hands compared with the same month a year earlier.
Read more »
Greater Toronto home sales dip in December to cap 'transitionary' 2024: boardCanada's construction news
Read more »