News: Vancouver Real Estate Market

Canada ends 2022 with modest decline in national aggregate home price; prices remain well above pre-pandemic levels

According to the Royal LePage House Price Survey released today, the aggregate price of a home in Canada decreased 2.8 per cent  year-over year to $757,100 in the fourth quarter of 2022; the first year-over-year decline recorded since the end of 2008 during the global  financial crisis. On a quarter-over-quarter basis, the aggregate price of a home in Canada decreased 2.3 per cent. This is the third consecutive quarterly decline, and the smallest decrease so far. 

In December, Royal LePage issued a forecast projecting that the aggregate price of a home in Greater Vancouver will decrease 1.0 per cent in the fourth quarter of 2023, compared to the same quarter in 2022. 

Read the Full Q4 2022 Royal Lepage house price survey.


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