{"id":1176,"date":"2022-11-07T07:00:00","date_gmt":"2022-11-07T15:00:00","guid":{"rendered":"https:\/\/rodrhearyan.com\/blog\/inflation-metro-vancouver-october-rebgv-market-review-buyers-sellers-history-invest-money-bank-mortgage-interest-rates-increase-expensive-inventory-capital-gains\/"},"modified":"2026-04-08T09:23:32","modified_gmt":"2026-04-08T16:23:32","slug":"inflation-metro-vancouver-october-rebgv-market-review-buyers-sellers-history-invest-money-bank-mortgage-interest-rates-increase-expensive-inventory-capital-gains","status":"publish","type":"post","link":"https:\/\/www.rodrhearyan.com\/blog\/inflation-metro-vancouver-october-rebgv-market-review-buyers-sellers-history-invest-money-bank-mortgage-interest-rates-increase-expensive-inventory-capital-gains\/","title":{"rendered":"Metro Vancouver October Market Review: A Little Bit Of Everything"},"content":{"rendered":"

Wondering what changed in the real estate market last month?<\/h2>\n
    \n
  1. \n

    Overall Market for October 2022 is down compared to the same time in 2021.<\/h3>\n<\/li>\n
  2. \n

    Overall Market for October 2022 has increased compared to September 2022.<\/h3>\n

    Inflation + Rising Interest Rates = Caution<\/h4>\n<\/li>\n<\/ol>\n

    More specifically the REBGV has this to say:<\/span><\/p>\n

     <\/span><\/p>\n

    The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the <\/span>region totalled 1,903 in October 2022, a 45.5 percent decrease from the 3,494 sales recorded in <\/span>October 2021, and a 12.8 percent increase from the 1,687 homes sold in September 2022.<\/span>
    <\/span><\/p>\n

    Last month’s sales were 33.3 percent below the 10-year October sales average.<\/span>
    <\/span><\/p>\n

    “Inflation and rising interest rates continue to dominate headlines, leading many buyers and <\/span>sellers to assess how these factors impact their housing options,” Andrew Lis, REBGV’s <\/span>director, economics and data analytics said. “With sales remaining near historic lows, the <\/span>number of active listings continues to inch upward, causing home prices to recede from the <\/span>record highs set in the spring of 2022.”<\/span>
    <\/span><\/p>\n

    There were 4,033 detached, attached and apartment properties newly listed for sale on the <\/span>Multiple Listing Service® (MLS®) in Metro Vancouver in October 2022. This represents a 0.4 <\/span>percent decrease compared to the 4,049 homes listed in October 2021 and a 4.6 percent <\/span>decrease compared to September 2022 when 4,229 homes were listed.<\/span>
    <\/span><\/p>\n

    The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is <\/span>9,852, a 22.6 percent increase compared to October 2021 (8,034) and a 1.2 percent decrease <\/span>compared to September 2022 (9,971).<\/span>
    <\/span><\/p>\n

    “Recent years have been characterized by a frenetic pace of sales amplified by scarce listings on <\/span>the market to choose from. Today’s market cycle is a marked departure, with a slower pace of <\/span>sales and more selection to choose from,” Lis said.<\/span><\/span>“This environment provides buyers and <\/span>sellers more time to conduct home inspections, strata minute reviews, and other due diligence. <\/span>With the possibly of yet another rate hike by the Bank of Canada this December, it has become<\/span>
    even more important to secure financing as early in the process as possible.”<\/span><\/p>\n

    For all property types, the sales-to-active listings ratio for October 2022 is 19.3 percent. By <\/span>property type, the ratio is 14.3 percent for detached homes, 21.6 percent for townhomes, and <\/span>23.2 percent for apartments.<\/span><\/p>\n

     <\/p>\n

    Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 <\/span>percent for a sustained period, while home prices often experience upward pressure when it <\/span>surpasses 20 percent over several months<\/span><\/p>\n

     <\/p>\n

     <\/span><\/span><\/span><\/p>\n

    To delve deeper in to Greater Vancouver’s developing market trends CLICK HERE<\/a>
    <\/span><\/span><\/span><\/h3>\n","protected":false},"excerpt":{"rendered":"

    Wondering what changed in the real estate market last month? Overall Market for October 2022 is down compared to the same time in 2021. Overall Market …<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-1176","post","type-post","status-publish","format-standard","hentry","category-news"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t