{"id":10007,"date":"2018-08-09T10:10:46","date_gmt":"2018-08-09T17:10:46","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=10007"},"modified":"2018-08-03T10:50:00","modified_gmt":"2018-08-03T17:50:00","slug":"facts-that-show-metro-vancouvers-quiet-housing-market-this-summer","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/08\/facts-that-show-metro-vancouvers-quiet-housing-market-this-summer\/","title":{"rendered":"Facts That Show Metro Vancouver&#8217;s Quiet Housing Market This Summer"},"content":{"rendered":"<p style=\"text-align: justify;\">Metro Vancouver\u2019s housing market is feeling the impact of a quieter summer with home sales falling to an 18-year low for the month of July.<\/p>\n<p style=\"text-align: justify;\">Last month, 2,070 homes changed hands in the region \u2014 a 30% drop from the 2,960 sales recorded in July 2017, according to the latest data from the Real Estate Board of Greater Vancouver (REBGV), published Thursday.<\/p>\n<p style=\"text-align: justify;\">July\u2019s home sales were 29% below the 10-year sales average for the month.<\/p>\n<p style=\"text-align: justify;\">In a statement, REBGV President Phil Moore says with slower demand in the market, there\u2019s less upward pressure on home prices across the region.<\/p>\n<p style=\"text-align: justify;\">\u201cThis is most pronounced in the detached home market, but demand in the townhome and apartment markets is also relenting from the more frenetic pace experienced over the last few years,\u201d says Moore.<\/p>\n<p style=\"text-align: justify;\">In July, 4,770 detached, attached and apartment properties were newly listed for sale in Metro Vancouver, down nine per cent compared to the 5,256 homes listed a year ago and a roughly 10% decline from June 2018.<\/p>\n<p style=\"text-align: justify;\">Here are 8 more facts that show Metro Vancouver\u2019s quiet housing market this summer.<\/p>\n<p style=\"text-align: justify;\">1. There were a total of 12,137 homes listed for sale in Metro Vancouver, up 32% compared to 9,194 homes listed in July 2017.<\/p>\n<p style=\"text-align: justify;\">2. REBGV\u2019s Moore says summer is traditionally a quieter time of year for real estate and this is evident in Metro Vancouver\u2019s market this year. \u201cWith increased mortgage rates and stricter lending requirements, buyers and sellers are opting to take a wait-and-see approach for the time being,\u201d says Moore.<\/p>\n<p style=\"text-align: justify;\">3. For all property types, the sales-to-active listings ratio for July was 17%. REBGV says typically downward pressure on home prices occurs when the ratio falls below the 12% mark for a prolonged period of time, while home prices experience upward pressure when it surpasses 20 per cent over several months.<\/p>\n<p style=\"text-align: justify;\">4. By property type, the sales-to-active listings ratio was nearly 10% for detached homes, 20% for townhomes and 27% for condos.<\/p>\n<p style=\"text-align: justify;\">5. In July, the benchmark price for all residential properties in Metro Vancouver hit $1,087,500, up nearly 7% from July 2017.<\/p>\n<p style=\"text-align: justify;\">6. A total of 637 detached homes sold in July, down nearly 40% from the 949 units sold a year ago. In July, the benchmark price of a detached home reached $1,588,400 \u2014 a 1.5% drop from the same period last year.<\/p>\n<p style=\"text-align: justify;\">7. In the condo segment, a total of 1,079 homes sold in July, down 26% compared to the 1,468 sales in July 2017. The benchmark price for condos was $700,500, up nearly 14% from a year ago.<\/p>\n<p style=\"text-align: justify;\">8. Attached property sales totalled 354 in July, down roughly 35% compared to the 543 sales in July 2017. Attached home prices hit $856,000 last month, up 12% from a year ago.<\/p>\n<p><a href=\"https:\/\/www.livabl.com\/2018\/08\/vancouver-sales-18-low-8-facts-july-housing-market.html\" target=\"_blank\" rel=\"noopener\">Metro Vancouver Home Sales Hit 18-Year Low &amp; 8 More Facts About the City&#8217;s July Housing Market<\/a> by Kerrisa Wilson | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Metro Vancouver\u2019s housing market is feeling the impact of a quieter summer with home sales falling to an 18-year low for the month of July. Last month, 2,070 homes changed &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/08\/facts-that-show-metro-vancouvers-quiet-housing-market-this-summer\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-10007","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Facts That Show Metro Vancouver&#039;s Quiet Housing Market This Summer &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2018\/08\/facts-that-show-metro-vancouvers-quiet-housing-market-this-summer\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Facts That Show Metro Vancouver&#039;s Quiet Housing Market This Summer &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Metro Vancouver\u2019s housing market is feeling the impact of a quieter summer with home sales falling to an 18-year low for the month of July. Last month, 2,070 homes changed &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/facts-that-show-metro-vancouvers-quiet-housing-market-this-summer\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/facts-that-show-metro-vancouvers-quiet-housing-market-this-summer\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Facts That Show Metro Vancouver&#8217;s Quiet Housing Market This Summer\",\"datePublished\":\"2018-08-09T17:10:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/facts-that-show-metro-vancouvers-quiet-housing-market-this-summer\\\/\"},\"wordCount\":448,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Market Updates\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/facts-that-show-metro-vancouvers-quiet-housing-market-this-summer\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/facts-that-show-metro-vancouvers-quiet-housing-market-this-summer\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/facts-that-show-metro-vancouvers-quiet-housing-market-this-summer\\\/\",\"name\":\"Facts That Show Metro Vancouver's Quiet Housing Market This Summer &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2018-08-09T17:10:46+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/facts-that-show-metro-vancouvers-quiet-housing-market-this-summer\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/facts-that-show-metro-vancouvers-quiet-housing-market-this-summer\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/facts-that-show-metro-vancouvers-quiet-housing-market-this-summer\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Facts That Show Metro Vancouver&#8217;s Quiet Housing Market This Summer\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\",\"name\":\"Rory C Real Estate | Oakwyn Realty\",\"description\":\"Rory C Real Estate Updates | Home Selling &amp; Buying\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\",\"name\":\"Rory Clipsham\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"width\":504,\"height\":504,\"caption\":\"Rory Clipsham\"},\"logo\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.roryc.ca\\\/\",\"https:\\\/\\\/www.facebook.com\\\/pg\\\/BurnabyandCoquitlamHomes\\\/about\\\/?ref=page_internal\",\"https:\\\/\\\/www.instagram.com\\\/roryclipshamhomes\\\/\",\"https:\\\/\\\/x.com\\\/RoryClipsham\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Facts That Show Metro Vancouver's Quiet Housing Market This Summer &#8226; Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roryc.ca\/blog\/2018\/08\/facts-that-show-metro-vancouvers-quiet-housing-market-this-summer\/","twitter_card":"summary_large_image","twitter_title":"Facts That Show Metro Vancouver's Quiet Housing Market This Summer &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"Metro Vancouver\u2019s housing market is feeling the impact of a quieter summer with home sales falling to an 18-year low for the month of July. Last month, 2,070 homes changed &hellip; [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2018\/08\/facts-that-show-metro-vancouvers-quiet-housing-market-this-summer\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/08\/facts-that-show-metro-vancouvers-quiet-housing-market-this-summer\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"Facts That Show Metro Vancouver&#8217;s Quiet Housing Market This Summer","datePublished":"2018-08-09T17:10:46+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/08\/facts-that-show-metro-vancouvers-quiet-housing-market-this-summer\/"},"wordCount":448,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"articleSection":["Market Updates"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2018\/08\/facts-that-show-metro-vancouvers-quiet-housing-market-this-summer\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2018\/08\/facts-that-show-metro-vancouvers-quiet-housing-market-this-summer\/","url":"https:\/\/www.roryc.ca\/blog\/2018\/08\/facts-that-show-metro-vancouvers-quiet-housing-market-this-summer\/","name":"Facts That Show Metro Vancouver's Quiet Housing Market This Summer &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2018-08-09T17:10:46+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/08\/facts-that-show-metro-vancouvers-quiet-housing-market-this-summer\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2018\/08\/facts-that-show-metro-vancouvers-quiet-housing-market-this-summer\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2018\/08\/facts-that-show-metro-vancouvers-quiet-housing-market-this-summer\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"Facts That Show Metro Vancouver&#8217;s Quiet Housing Market This Summer"}]},{"@type":"WebSite","@id":"https:\/\/www.roryc.ca\/blog\/#website","url":"https:\/\/www.roryc.ca\/blog\/","name":"Rory C Real Estate | Oakwyn Realty","description":"Rory C Real Estate Updates | Home Selling &amp; Buying","publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.roryc.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":["Person","Organization"],"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7","name":"Rory Clipsham","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","width":504,"height":504,"caption":"Rory Clipsham"},"logo":{"@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg"},"sameAs":["http:\/\/www.roryc.ca\/","https:\/\/www.facebook.com\/pg\/BurnabyandCoquitlamHomes\/about\/?ref=page_internal","https:\/\/www.instagram.com\/roryclipshamhomes\/","https:\/\/x.com\/RoryClipsham"]}]}},"_links":{"self":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/10007","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/comments?post=10007"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/10007\/revisions"}],"predecessor-version":[{"id":10008,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/10007\/revisions\/10008"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=10007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=10007"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=10007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}