{"id":1190,"date":"2022-10-12T07:00:00","date_gmt":"2022-10-12T14:00:00","guid":{"rendered":"https:\/\/rodrhearyan.com\/blog\/metro-vancouver-september-rebgv-market-review-buyers-sellers-history-invest-money-bank-mortgage-interest-rates-fall-inventory-capital-gains\/"},"modified":"2026-04-08T09:23:32","modified_gmt":"2026-04-08T16:23:32","slug":"metro-vancouver-september-rebgv-market-review-buyers-sellers-history-invest-money-bank-mortgage-interest-rates-fall-inventory-capital-gains","status":"publish","type":"post","link":"https:\/\/www.rodrhearyan.com\/blog\/metro-vancouver-september-rebgv-market-review-buyers-sellers-history-invest-money-bank-mortgage-interest-rates-fall-inventory-capital-gains\/","title":{"rendered":"Metro Vancouver September REBGV Market Review"},"content":{"rendered":"

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

    More Sellers than the previous month.<\/h3>\n<\/li>\n
  2. \n

    Less buyers than the previous month<\/h3>\n

     <\/p>\n<\/li>\n<\/ol>\n

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

    ‘Home sellers were more active in Metro Vancouver’s <\/span>housing market in September while home buyer demand remained below the<\/span>region’s long<\/span>-term<\/span>
    averages. <\/span>The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the <\/span>region totalled 1,687 in September 2022, a 46.4 per cent decrease from the 3,149 sales recorded <\/span>in September 2021, and a 9.8 per cent decrease from the 1,870 homes sold in August 2022.<\/span>
    <\/span><\/span><\/p>\n

    Last month’s sales were<\/span>35.7 per cent below the 10-year September sales average. <\/span>“With the Bank of Canada and other central banks around the globe hiking rates in an effort to <\/span>stamp out inflati<\/span>on, the cost to borrow funds has risen substantially over a short period,” said <\/span>Andrew Lis, REBGV director, economics and data a<\/span>nalytics.<\/span><\/span><\/span><\/p>\n

    “This has resulted in a more <\/span>challenging environment for borrowers looking to purchase a home, and home sales across the <\/span>region have dropped accordingly.” <\/span>There were 4,229 detached, attached and apartment properties newly listed for sale on the <\/span>Multiple Listing Service® (MLS®) in Metro Vancouver in September 2022. This represents an <\/span>18.2 per cent decrease compared to the 5,171 homes listed in September 2021 and a 27.1 per cent <\/span>increase compared to August 2022 when 3,328 homes were listed.<\/span>
    <\/span><\/span><\/p>\n

    The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is <\/span>9,971, an eight per cent increase compared to September 2021 (9,236) and a 3.2 per cent increase <\/span>compared to August 2022 (9,662).<\/span>
    <\/span><\/span><\/p>\n

    “With fewer homes selling and new listings continuing to come to market, inventory is <\/span>beginning to accumulate, providing buyers with more selection com<\/span>pared to last year,” Lis<\/span>said. <\/span>“With more supply and less demand within this market cycle, residential home prices have <\/span>edged down<\/span>in the region over the last six months.” ‘<\/span><\/span><\/span><\/p>\n

     <\/span><\/span><\/span><\/p>\n

    CLICK HERE FOR THE FULL REBGV SEPTEMBER STATISTICS PACKAGE<\/a>
    <\/span><\/span><\/span><\/h2>\n

     <\/span><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

    Wondering what changed in the real estate market last month? More Sellers than the previous month. Less buyers than the previous month   More specifically the …<\/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-1190","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