May 2024 overview of housing market activity in Metro Vancouver

May 2024 overview of housing market activity in Metro Vancouver

A culmination of factors, from higher borrowing costs, to worries about the economy, to policy interventions imposed by various levels of Government, are influencing Buyers and Sellers today.



The number of transactions on the Multiple Listing Service® (MLS®) declined in May compared to what is typical for this time of year in Metro Vancouver. This shift has allowed the inventory of homes available for sale to continue to accumulate with over 13,000 homes now actively listed on the MLS® in the region.
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Home sales registered in the MLS® in the Metro Vancouver market rose 28 percent year-over-year in November, building on the momentum of the 30 percent year-over-year increase seen in October. 

Phil Chang
Personal Real Estate Corporation