News: Vancouver Real Estate Market

Discover the latest trends shaping Canada’s housing market with our Q2 2024 House Price Survey. Here’s what you need to know.

Q2 2024 Key Highlights:

• National Trends: The aggregate home price in Canada rose by 1.9% year-over-year, reaching $824,300. Quarterly, prices climbed by 1.5%, despite slower activity in major markets like Toronto and Vancouver.

• Regional Insights: While Toronto and Vancouver experienced subdued market activity, prairie provinces and Quebec saw demand continue to outstrip supply....

Metro Vancouver home sales registered on the MLS® remained below seasonal and historical averages in June. With reduced competition among buyers, inventory has continued to accumulate to levels not seen since the spring of 2019.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totaled 2,418 in June 2024, a decrease of 19.1% from the 2,988 sales recorded in June 2023. This was 23.6% below the 10-year seasonal average (3,166).

“The June data continued a trend we’ve been...