Metro Vancouver's housing market is starting to stir, but still lagging behind last year, according to new data from REBGV. realestate realestatenews Vancouver housingmarket BC
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
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