September housing inventories continue to grow in Metro Vancouver
Inventories of homes available for sale continued to grow across Metro Vancouver in September and sales continued to decline. September sales were 36.1% below the ten year average and housing inventory is the highest we have seen in four years. More supply and less demand has been reflected in a slow easing in prices in most categories and price points. Condos and Town Homes are presently in a balanced market overall while single houses have swung to a buyer’s market in general. It will be interesting to see the stats for October as historically the market tends to pick up again in the fall months.