The stats are in!
The June 2023 stats from the Real Estate Board of Greater Vancouver have shown home prices continuing to rise.
Despite reduced affordability, buyer demand continues to outweigh the supply of homes for sale, pushing prices higher.
As new construction continues to lag behind demand and the number of resale listings on the market is still well below 10-year averages, price growth may continue to be supported.
The next Bank of Canada announcement is July 12, 2023 and will help provide further insight into what the future may hold.
At Ballard360, we are continuing to work with our clients to strategize and navigate the summer market.
Have any questions about the market?
Give us a call!
Source: The Real Estate Board of Greater Vancouver