The Greater Vancouver housing market saw a reduction in Buyer demand in June. Our region saw a 28% decline in sales this June as compared with last June (2011).  This is also 32% below the average sales in June over the last 10 years. This all amounts to the lowest selling June since 2000.  There is also a decline in new listings (18% lower than May 2012).  Currently, the total number of listings is at its highest point in over 2 years. 

We are still in a balanced market - but at the lower end.  The sales-to-active listing ratio is the figure analysts use to determine this stat and the number has been declining since March (it stands at 13% now).  The analysts also say that once this figure reaches 10-12% we will see downward pressure on home prices.  At this time prices remain stable but the market is currently favouring Buyers.

Please call us with any questions.