{"id":758,"date":"2021-09-22T16:07:47","date_gmt":"2021-09-22T20:07:47","guid":{"rendered":"http:\/\/www.juliafreeman.ca\/blog\/?p=758"},"modified":"2023-03-28T16:35:56","modified_gmt":"2023-03-28T20:35:56","slug":"summer-sees-home-listing-supply-decline-across-metro-vancouver","status":"publish","type":"post","link":"https:\/\/www.juliafreeman.ca\/blog\/2021\/09\/summer-sees-home-listing-supply-decline-across-metro-vancouver\/","title":{"rendered":"Summer sees home listing supply decline across Metro Vancouver"},"content":{"rendered":"<p><a href=\"https:\/\/www.juliafreeman.ca\/blog\/wp-content\/uploads\/2021\/09\/Screen-Shot-2021-09-22-at-12.59.01-PM.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-759\" src=\"https:\/\/www.juliafreeman.ca\/blog\/wp-content\/uploads\/2021\/09\/Screen-Shot-2021-09-22-at-12.59.01-PM.png\" alt=\"Julia Freeman Real Estate\" width=\"1178\" height=\"574\" srcset=\"https:\/\/www.juliafreeman.ca\/blog\/wp-content\/uploads\/2021\/09\/Screen-Shot-2021-09-22-at-12.59.01-PM.png 1178w, https:\/\/www.juliafreeman.ca\/blog\/wp-content\/uploads\/2021\/09\/Screen-Shot-2021-09-22-at-12.59.01-PM-300x146.png 300w, https:\/\/www.juliafreeman.ca\/blog\/wp-content\/uploads\/2021\/09\/Screen-Shot-2021-09-22-at-12.59.01-PM-1024x499.png 1024w, https:\/\/www.juliafreeman.ca\/blog\/wp-content\/uploads\/2021\/09\/Screen-Shot-2021-09-22-at-12.59.01-PM-768x374.png 768w\" sizes=\"(max-width: 1178px) 100vw, 1178px\" \/><\/a><\/p>\n<p>While home buyers have remained active in Metro Vancouver throughout the summer, the <strong>supply of homes for sale has declined steadily since June.<\/strong><\/p>\n<p>The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,152 in August 2021, a 3.4 per cent increase from the 3,047 sales recorded in August 2020, and a 5.2 per cent decrease from the 3,326 homes sold in July 2021.<\/p>\n<p><strong>Last month\u2019s sales were 20.4 per cent above the 10-year August sales average.<\/strong><\/p>\n<p>\u201cAugust was busier than expected, and listings activity isn\u2019t keeping up with the pace of demand. This is <strong>leaving the market under supplied<\/strong>.\u201d said Keith Stewart, REBGV economist.<\/p>\n<p>\u201cHousing supply is the biggest factor impacting the market right now. To help relieve pressure on prices and improve peoples\u2019 home buying options, the market needs a more abundant supply of homes for sale.\u201d Stewart said. \u201cHousing affordability has been a key issue in the federal election. We encourage the political parties to focus on policy solutions that will help streamline the creation of more diverse housing options for hopeful home buyers today and into the future.\u201d<\/p>\n<p>For all property types, the sales-to-active listings ratio for August 2021 is 35 per cent. By property type, the ratio is 25.3 per cent for detached homes, 51.8 per cent for townhomes, and 39.2 per cent for apartments.<\/p>\n<p>Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.<\/p>\n<p>\u201cWhen assessing the market, it\u2019s important to understand that while year-over-year price increases have reached double digits, most of the increases happened three or more months ago,\u201d Stewart said.<\/p>\n<p>Read the full article <a href=\"https:\/\/www.rebgv.org\/market-watch\/monthly-market-report\/august-2021.html\">here<\/a><\/p>\n<p>Credit REBGV<\/p>\n","protected":false},"excerpt":{"rendered":"<p>While home buyers have remained active in Metro Vancouver throughout the summer, the supply of homes for sale has declined steadily since June. The Real Estate Board of Greater Vancouver &hellip; [<a href=\"https:\/\/www.juliafreeman.ca\/blog\/2021\/09\/summer-sees-home-listing-supply-decline-across-metro-vancouver\/\">read more<\/a>]<\/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":[12,13,11,9,10],"_links":{"self":[{"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts\/758"}],"collection":[{"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/comments?post=758"}],"version-history":[{"count":3,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts\/758\/revisions"}],"predecessor-version":[{"id":763,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts\/758\/revisions\/763"}],"wp:attachment":[{"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/media?parent=758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/categories?post=758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/tags?post=758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}