The Metro Vancouver housing market showed more signs of life in February, according tofrom the Real Estate Board of Greater Vancouver , with activity picking up from the hard-to-beat lows of January.
The number of total listings in Metro Vancouver inched up to 7,868, a 5.2% increase compared to the 7,478 in January, as well as a 16.7% increase compared to the 6,742 in February 2022. With 1,808 sales in February and 7,868 active listings, the sales-to-active-listings ratio is now 22.9%. After the ratio was at just 13.7% in January, this is likely a sign that the market is now favoring sellers.
“For prospective buyers, the below-average sales activity is allowing inventory to accumulate, which is keeping market conditions from straying too deeply into sellers’ market territory, particularly in the more affordably-priced segments,” Lis said.Prices Are Firming Up