The B.C. board says sales in the region totalled 2,444 last month, down from 3,762 in June 2021, and 2,918 homes in May 2022
Last month's Greater Vancouver area 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 region's real estate board said Tuesday.
“Homebuyers have more selection to choose from and more time to make decisions than they did over the past year,” John said, in a statement Realtors report it is now routine for buyers to sit on the sidelines of the housing market as they wait to see if conditions will ease even further, while sellers are taking time to adjust to a market that is not as frenzied as it once was.
"Now, they're sitting on the market for a few weeks to a few months and people are not touching it," Mazaheri said. "It's a very big, drastic change." Those that are wading into the market are still fetching more money for their homes than they did last year but less than they would have months ago.
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