Home buyer demand picked up across Metro Vancouver* last month, making July, a traditionally quieter month in real estate, the second highest selling month so far this year.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,557 in July 2019, a 23.5 per cent increase from the 2,070 sales recorded in July 2018, and a 23.1 per cent increase from the 2,077 homes sold in June 2019.
Last month’s sales were 7.8 per cent below the 10-year July sales average.
“While home sale activity remains below long-term averages, we saw an increase in sales in July compared to the less active spring we experienced. Those looking to buy today continue to benefit from low interest rates, increased selection, and reduced prices compared to the heated market a few years ago.”
Right now, if you are a buyer that has been sitting on the sidelines waiting to see what happens – Summer is a great time to buy. WHY?
- Most people are on vacation, so there is less competition
- Negotiate on homes that have been sitting on the market since the spring