Inflation, rising interest rates create caution across Metro Vancouver’s housing market VANCOUVER, BC –…
The Real Estate Board of Greater Vancouver says demand continues to be high for condominiums and townhomes in the region, but less so for detached properties.
The board says 1,818 homes sold in January — up 19.4 per cent from the same time last year, but down 9.8 per cent from December 2017.
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However, townhouse and condo sales were above the 10-year January average by 14.3 and 31.6 per cent respectively, while detached homes fell 24.8 per cent below it.
The board says the sales-to-active listings ratio last month, which looks at how many properties sold compared with those listed, was 57.2 per cent for condos, 32.8 per cent for townhouses and 11.6 per cent for detached properties.