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It's a slow spring for B.C.'s housing market, but prices have begun inching up

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Residential home prices have risen about five per cent so far this year, said the Real Estate Board of Greater Vancouver.

Despite recession fears, the current market is showing no signs of financial vulnerability or highly-motivated sellers, said the BCREA report.

According to the latest MLS data, prices have risen about five per cent so far in 2023, outpacing the board’s initial forecast of one to two per cent by year, said Andrew Lis, director of economics and data analytics.Article content “At the crux of it, the issue remains a matter of far too little resale supply available relative to the pool of active buyers in our market.”

 

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