Rate Hikes Continue To Slow down Sales In The Metro Vancouver Housing Market
October 6th, 2022
Increasing mortgage rates over the last several months designed to bring down inflation have substantially increased the cost of borrowing for home buyers. As a result, home sales have slowed 46.4% in September 2022 compared with September 2021.
With home inventories increasing and sales slowing, prices have also been declining. The MLS Home Price Index shows an 8.5 % average decrease ove ...