Housing prices down but activity on the rise in Vancouver, Toronto housing markets!
Milder disengaged lodging values brief new round of home-purchasing movement in hot pockets of Greater Vancouver and Greater Toronto real estate markets. Q2 disengaged home deals up in 40% of GTA pockets, and 31% of GVA, contrasted with Q1.
3rd Quarter 2022
RE/MAX found that second quarter values in the Greater Toronto housing market were 10 to 15 per cent below Q1 levels.
Downward price trend in the Greater Vancouver and Fraser Valley housing market in terms of preliminary estimates.
Prices Down But Housing Market is Relatively Stable!
In fact, there is relative stability in terms of market conditions, so buyers shouldn’t expect big bargains.
Sales-to-active listings remain squarely in balanced territory
Sales-to-active listings remain squarely in balanced territory overall and even tight in some areas.
This trend will likely keep prices fairly stable moving forward.
In Vancouver, for example, supply was lower this June than last in 50 per cent of markets and sales are down accordingly.
The Greater Vancouver real estate market encountered an expansion in deals in 31% of locales (5/16), including Island-Gulf, North Vancouver, Squamish, Sunshine Coast and Whistler/Pemberton.
$ Sales increased