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May 3, 2022
Greater Vancouver April home sales plunge nearly 26% from March
The Canadian Press
I believe we're in the early stages of a housing correction: Vancouver Realtor
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VANCOUVER - The Real Estate Board of Greater Vancouver says home sales in the region fell in April and returned to more historically typical levels for the month.
The board says residential home sales in the region totalled 3,232 in April, down from 4,908 in April 2021 and 4,344 homes in March 2022.
The April sales were 1.5 per cent above the 10-year sales average for the month.
REBGV chair Daniel John says the return to a more traditional pace of home sales over the last two months provides hopeful homebuyers more time to make decisions, secure financing and perform other due diligence such as home inspections.
The board says there were 6,107 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service in Metro Vancouver in April, down 23.1 per cent compared with April 2021 and down 8.5 per cent compared with March 2022.
The sales came as the MLS home price index composite benchmark price for all residential properties in Metro Vancouver was $1,374,500, up 18.9 per cent over April 2021 and a one per cent increase compared with March this year.
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