The Real Estate Board of Greater Vancouver says higher borrowing costs combined with seasonal patterns are putting the housing market on track to see slowing sales and price stabilization.
The composite benchmark price for Metro Vancouver hit $1,208,400, a 2.5 per cent increase from August 2022 and a less than one per cent decrease from July.
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Vancouver on track to see home price stabilization amid higher borrowing costs: boardVANCOUVER — The Real Estate Board of Greater Vancouver says higher borrowing costs combined with seasonal patterns are putting the housing market on track to see slowing sales and price stabilization. The board's outlook is being informed by August sales, which totalled 2,296, 13.8 per cent below the 10-year seasonal average. Compared with a year earlier, August sales jumped more than 21 per cent. There were 3,943 new listings last month, a roughly 18 per cent increase from a year earlier, but n
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Five things to watch for in the Canadian business world in the coming weekTORONTO — Five things to watch for in the Canadian business world in the coming week: Home sales Home sales numbers from some of the country's largest cities are expected this week. The Real Estate Board of Greater Vancouver is expected to release August home sales figures on Tuesday, while the Toronto Regional Real Estate Board is set to release its numbers on Wednesday. Rate decision The Bank of Canada will announce its latest decision on interest rates on Wednesday followed by a speech by gov
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