{"id":12232,"date":"2019-04-18T10:10:07","date_gmt":"2019-04-18T17:10:07","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=12232"},"modified":"2019-04-04T10:01:59","modified_gmt":"2019-04-04T17:01:59","slug":"metro-vancouver-home-sales-sink-to-lowest-level-in-33-years","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/04\/metro-vancouver-home-sales-sink-to-lowest-level-in-33-years\/","title":{"rendered":"Metro Vancouver Home Sales Sink to Lowest Level in 33 Years"},"content":{"rendered":"<p style=\"text-align: justify;\">Homes sales in the region have dipped to the lowest levels seen in more than three decades \u2014 in fact, the same year the World\u2019s Fair (aka Expo) was in Vancouver.<\/p>\n<p style=\"text-align: justify;\">In its latest market report, the Real Estate Board of Greater Vancouver (REBGV) reported that sales in March totalled just 1,727, a decline of 31.4% compared to the 2,517 sales of March 2018.<\/p>\n<p style=\"text-align: justify;\">Last month\u2019s sales numbers were down 16.4% compared to what was sold in February 2019.<\/p>\n<p>March\u2019s sales were actually the lowest total seen since 1986.<\/p>\n<p style=\"text-align: justify;\">REBGV President Ashley Smith said in a statement that the market trends can be attributed to policy-induced changes that have taken effect in the real estate market.<\/p>\n<p style=\"text-align: justify;\">\u201cHousing demand today isn\u2019t aligning with our growing economy and low unemployment rates. For three years, governments at all levels have imposed new taxes and borrowing requirements on to the housing market,\u201d she said.<\/p>\n<p style=\"text-align: justify;\">Smith says policymakers don\u2019t realize that the demand-size measures aren\u2019t actually eliminating demand, but instead are pushing potential buyers temporarily to the sidelines.<\/p>\n<p style=\"text-align: justify;\">\u201cUsing public policy to delay local demand in the housing market just feeds disruptive cycles that have been so well-documented in our region,\u201d Smith said.<\/p>\n<p style=\"text-align: justify;\">There were 4,949 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service in Metro Vancouver in March 2019 \u2014 an 11% increase compared to March 2018.<\/p>\n<p style=\"text-align: justify;\">The benchmark price for all residential properties in the region is currently $1,011,200, down 7.7% from March 2018, and a 0.5% decrease compared to February 2019.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/dailyhive.com\/vancouver\/home-sales-metro-vancouver-march-2019\" target=\"_blank\" rel=\"noopener noreferrer\">Metro Vancouver Home Sales Sink to Lowest Level in 33 Years<\/a> by Daily Hive<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Homes sales in the region have dipped to the lowest levels seen in more than three decades \u2014 in fact, the same year the World\u2019s Fair (aka Expo) was in &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/04\/metro-vancouver-home-sales-sink-to-lowest-level-in-33-years\/\">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-12232","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Metro Vancouver Home Sales Sink to Lowest Level in 33 Years &#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\/2019\/04\/metro-vancouver-home-sales-sink-to-lowest-level-in-33-years\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Metro Vancouver Home Sales Sink to Lowest Level in 33 Years &#8226; 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