{"id":823,"date":"2022-05-16T13:00:15","date_gmt":"2022-05-16T17:00:15","guid":{"rendered":"http:\/\/www.juliafreeman.ca\/blog\/?p=823"},"modified":"2023-03-28T14:55:15","modified_gmt":"2023-03-28T18:55:15","slug":"metro-vancouver-home-sales-return-to-more-traditional-levels-in-april","status":"publish","type":"post","link":"https:\/\/www.juliafreeman.ca\/blog\/2022\/05\/metro-vancouver-home-sales-return-to-more-traditional-levels-in-april\/","title":{"rendered":"Metro Vancouver home sales return to more traditional levels in April"},"content":{"rendered":"<p class=\"\"><strong class=\"\">Home buyer demand in Metro Vancouver\u00a0returned to more historically typical levels in April.<\/strong><br class=\"\" \/><br class=\"\" \/>The Real Estate Board of Greater Vancouver\u00a0reports that residential home sales in the region totalled 3,232 in April 2022, a 34.1 per cent decrease from the 4,908 sales recorded in April 2021, and a 25.6 per cent decrease from the 4,344 homes sold in March 2022.<br class=\"\" \/><br class=\"\" \/>Last month\u2019s sales were 1.5 per cent above the 10-year April sales average.<br class=\"\" \/><br class=\"\" \/>\u201cSo far this spring, we\u2019ve seen home sales ease down from the record-breaking pace of the last year,\u201d Daniel John, REBGV Chair said. \u201cWhile a small sample size, the<span class=\"x_-173124025Apple-converted-space\">\u00a0<\/span><strong class=\"\">return to a more traditional pace of home sales<\/strong><span class=\"x_-173124025Apple-converted-space\">\u00a0<\/span>that we\u2019ve experienced over the last two months provides hopeful home buyers more time to make decisions, secure financing and perform other due diligence such as home inspections.\u201d<br class=\"\" \/><br class=\"\" \/>There were 6,107 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service\u00ae (MLS\u00ae) in Metro Vancouver in April 2022. This represents a 23.1 per cent decrease compared to the 7,938 homes listed in April 2021 and an 8.5 per cent decrease compared to March 2022 when 6,673 homes were listed.<br class=\"\" \/><br class=\"\" \/>The total number of homes currently listed for sale on the MLS\u00ae system in Metro Vancouver is 8,796, a 14.1 per cent decrease compared to April 2021 (10,245) and a 15.3 per cent increase compared to March 2022 (7,628).<br class=\"\" \/><br class=\"\" \/>\u201cWith<span class=\"x_-173124025Apple-converted-space\">\u00a0<\/span><strong class=\"\">interest rates climbing<\/strong><span class=\"x_-173124025Apple-converted-space\">\u00a0<\/span>and the total<span class=\"x_-173124025Apple-converted-space\">\u00a0<\/span><strong class=\"\">inventory of homes for sale inching higher<\/strong>, it\u2019s important to work with your local Realtor to understand how these factors could affect your home buying or selling situation,\u201d John said.<br class=\"\" \/><br class=\"\" \/>For all property types, the sales-to-active listings ratio for April 2022 is 36.7 per cent. By property type, the ratio is 25.3 per cent for detached homes, 47.1 per cent for townhomes, and 45 per cent for apartments.\u00a0Generally, 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.<br class=\"\" \/><br class=\"\" \/>The MLS\u00ae Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,374,500. This represents an<span class=\"x_-173124025Apple-converted-space\">\u00a0<\/span><strong class=\"\">18.9 per cent increase over April 2021 and a one per cent increase compared to March 2022.<\/strong><\/p>\n<div class=\"\"><\/div>\n<div class=\"\">Credit: REBGV<\/div>\n<div class=\"\"><a class=\"\" href=\"https:\/\/www.rebgv.org\/market-watch\/monthly-market-report\/april-2022.html\" target=\"_blank\" rel=\"noopener\">https:\/\/www.rebgv.org\/market-watch\/monthly-market-report\/april-2022.html<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Home buyer demand in Metro Vancouver\u00a0returned to more historically typical levels in April.The Real Estate Board of Greater Vancouver\u00a0reports that residential home sales in the region totalled 3,232 in April &hellip; [<a href=\"https:\/\/www.juliafreeman.ca\/blog\/2022\/05\/metro-vancouver-home-sales-return-to-more-traditional-levels-in-april\/\">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":[],"_links":{"self":[{"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts\/823"}],"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=823"}],"version-history":[{"count":1,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts\/823\/revisions"}],"predecessor-version":[{"id":824,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts\/823\/revisions\/824"}],"wp:attachment":[{"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/media?parent=823"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/categories?post=823"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/tags?post=823"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}