Housing supply still outpacing demand in Vancouver market as sales increase

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VANCOUVER — The Real Estate Board of Greater Vancouver says the region continues to see an increase in newly listed properties, but sales still lag behind...

VANCOUVER — The Real Estate Board of Greater Vancouver says the region continues to see an increase in newly listed properties, but sales still lag behind long-term trends.

There were 4,664 new listings of detached, attached and apartment properties last month, a 15.4 per cent increase from a year earlier, as new listings were 4.8 per cent above the 10-year seasonal average. Andrew Lis, the board's director of economics and data analytics, says there appears to be a continuation of sellers' renewed interest to participate in the market, but this is being counterbalanced by a lack of demand from buyers amid high borrowing costs.

Experts always say that real estate is a good investment. I'm a Luxury Real Estate Agent: These Are the 5 Home Features That Turn Buyers AwayFind Out: 3 Things You Must Do When Your Savings Reach...Although the housing market is finally cooling down, there are some areas across the U.S. where the market remains hot, and buyers are still paying much more than homes are actually worth. I Grew Up...

 

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