02/07/2024
Home sales across Metro Vancouverโs housing market off to strong start in 2024 ๐ก
While the Metro Vancouver* market ended 2023 in balanced market territory, conditions in January began shifting back in favour of sellers as the pace of newly listed properties did not keep up with the volume of home sales.
According to REBGV: โOur 2024 forecast is calling for a two to three per cent increase in prices by the end of the year, which is largely the result of demand, once again, butting up against too little inventory. If the January figures are indicative of what the spring market has in store, our forecast may already be off to an overly conservative start. Markets can shift quickly, however, and weโll watch the February numbers to see if these early signs of strength continue, or whether theyโre a blip in the data.โ
*Areas covered by the Real Estate Board of Greater Vancouver include: Bowen Island, Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.
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Whatโs your prediction for the 2024 real estate market? Will pent up demand continue to impact low inventory? ๐๐ป
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vancouver real estate market, real estate market trends, home sales in Vancouver