December 2022 - Vancouver Real Estate Market Update: End of Year Slowdown


November 2022 sales have hit ~2,400 transactions last month, making it the second lowest November sales month in the past 20 years (with the exception of 2008!)

Hard to say what the next interest rate announcement on Dec 7 will do to consumer certainty but we'll discuss a couple of new legislative changes: the home buyer rescission period and the rental restriction and age restriction ban for strata properties!

Sales:
⬇️ 53% from November 2021
⬇️ 15% from October 2022
⬇️ 37% below 10-year November sales average

New Listings:
⬇️ 23% from November 2021
⬇️ 24% from October 2022

Total # of Listings:
⬆️ 29% from November 2021
⬇️ 7% from October 2022



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