{"id":13091,"date":"2019-07-03T09:33:20","date_gmt":"2019-07-03T16:33:20","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=13091"},"modified":"2019-07-03T10:26:36","modified_gmt":"2019-07-03T17:26:36","slug":"rebgv-housing-supply-up-home-sales-prices-down-in-june","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/07\/rebgv-housing-supply-up-home-sales-prices-down-in-june\/","title":{"rendered":"REBGV Housing Supply Up, Home Sales &#038; Prices Down in June"},"content":{"rendered":"<p style=\"text-align: justify;\">With home buyer demand below long-term historical averages in June, the supply of homes for sale continued to accumulate in Metro Vancouver.<\/p>\n<p style=\"text-align: justify;\">The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,077 in June 2019, a 14.4% decrease from the 2,425 sales recorded in June 2018 and a 21.3% decrease from the 2,638 homes sold in May 2019.<\/p>\n<p style=\"text-align: justify;\">Last month\u2019s sales were 34.7% below the 10-year June sales average. This is the lowest total for the month since 2000.<\/p>\n<p style=\"text-align: justify;\">\u201cWe\u2019re continuing to see an expectation gap between home buyers and sellers in Metro Vancouver,\u201d said Ashley Smith, REBGV president. \u201cSellers are often trying to get yesterday\u2019s values for their homes while buyers are taking a cautious, wait-and-see approach.\u201d<\/p>\n<p style=\"text-align: justify;\">On the supply side, there were 4,751 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service\u00ae (MLS\u00ae) in Metro Vancouver in June 2019. This represents a 10% decrease compared to the 5,279 homes listed in June 2018 and an 18.9% decrease compared to May 2019 when 5,861 homes were listed.<\/p>\n<p style=\"text-align: justify;\">The total number of homes currently listed for sale on the MLS\u00ae system in Metro Vancouver is 14,968, a 25.3% increase compared to June 2018 (11,947) and a 1.9% increase compared to May 2019 (14,685).<\/p>\n<p style=\"text-align: justify;\">\u201cHome buyers haven\u2019t had this much selection to choose from in five years,\u201d Smith said. \u201cFor sellers to be successful in today\u2019s market, it\u2019s important to work with your local REALTOR\u00ae to make sure you\u2019re pricing your home for these conditions.\u201d<\/p>\n<p style=\"text-align: justify;\">For all property types, the sales-to-active listings ratio for June 2019 is 13.9%. By property type, the ratio is 11.4% for detached homes, 15.8% for townhomes, and 15.7% for apartments.<\/p>\n<p style=\"text-align: justify;\">Generally, analysts say that downward pressure on home prices occurs when the ratio dips below 12% for a sustained period, while home prices often experience upward pressure when it surpasses 20% over several months.<\/p>\n<p style=\"text-align: justify;\">The MLS\u00ae Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $998,700. This represents a 9.6% decrease over June 2018 and a 0.8% decrease compared to May 2019.<br \/>\nThis is the first time the composite benchmark has been below $1 million since May 2017.<\/p>\n<p style=\"text-align: justify;\">Sales of detached homes in June 2019 reached 746, a 2.6% decrease from the 766 detached sales recorded in June 2018. The benchmark price for detached properties is $1,423,500. This represents a 10.9% decrease from June 2018 and a 0.1% increase compared to May 2019.<\/p>\n<p style=\"text-align: justify;\">Sales of apartment homes reached 941 in June 2019, a 24.1% decrease compared to the 1,240 sales in June 2018. The benchmark price of an apartment property is $654,700. This represents an 8.9% decrease from June 2018 and a 1.4% decrease compared to May 2019.<\/p>\n<p style=\"text-align: justify;\">Attached home sales in June 2019 totalled 390, a 6.9% decrease compared to the 419 sales in June 2018. The benchmark price of an attached unit is $774,700. This represents an 8.6% decrease from June 2018 and a 0.6% decrease compared to May 2019.<\/p>\n<p style=\"text-align: justify;\"><a href=\"http:\/\/members.rebgv.org\/news\/REBGV-Stats-Pkg-June-2019.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Click here<\/a> to view the June 2019 stats package.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With home buyer demand below long-term historical averages in June, the supply of homes for sale continued to accumulate in Metro Vancouver. The Real Estate Board of Greater Vancouver (REBGV) &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/07\/rebgv-housing-supply-up-home-sales-prices-down-in-june\/\">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-13091","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>REBGV Housing Supply Up, Home Sales &amp; Prices Down in June &#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\/07\/rebgv-housing-supply-up-home-sales-prices-down-in-june\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"REBGV Housing Supply Up, Home Sales &amp; Prices Down in June &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"With home buyer demand below long-term historical averages in June, the supply of homes for sale continued to accumulate in Metro Vancouver. The Real Estate Board of Greater Vancouver (REBGV) &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\\\/2019\\\/07\\\/rebgv-housing-supply-up-home-sales-prices-down-in-june\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/07\\\/rebgv-housing-supply-up-home-sales-prices-down-in-june\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"REBGV Housing Supply Up, Home Sales &#038; Prices Down in June\",\"datePublished\":\"2019-07-03T16:33:20+00:00\",\"dateModified\":\"2019-07-03T17:26:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/07\\\/rebgv-housing-supply-up-home-sales-prices-down-in-june\\\/\"},\"wordCount\":461,\"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\\\/2019\\\/07\\\/rebgv-housing-supply-up-home-sales-prices-down-in-june\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/07\\\/rebgv-housing-supply-up-home-sales-prices-down-in-june\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/07\\\/rebgv-housing-supply-up-home-sales-prices-down-in-june\\\/\",\"name\":\"REBGV Housing Supply Up, Home Sales & Prices Down in June &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2019-07-03T16:33:20+00:00\",\"dateModified\":\"2019-07-03T17:26:36+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/07\\\/rebgv-housing-supply-up-home-sales-prices-down-in-june\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/07\\\/rebgv-housing-supply-up-home-sales-prices-down-in-june\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/07\\\/rebgv-housing-supply-up-home-sales-prices-down-in-june\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"REBGV Housing Supply Up, Home Sales &#038; Prices Down in June\"}]},{\"@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":"REBGV Housing Supply Up, Home Sales & Prices Down in June &#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\/2019\/07\/rebgv-housing-supply-up-home-sales-prices-down-in-june\/","twitter_card":"summary_large_image","twitter_title":"REBGV Housing Supply Up, Home Sales & Prices Down in June &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"With home buyer demand below long-term historical averages in June, the supply of homes for sale continued to accumulate in Metro Vancouver. The Real Estate Board of Greater Vancouver (REBGV) &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\/2019\/07\/rebgv-housing-supply-up-home-sales-prices-down-in-june\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2019\/07\/rebgv-housing-supply-up-home-sales-prices-down-in-june\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"REBGV Housing Supply Up, Home Sales &#038; Prices Down in June","datePublished":"2019-07-03T16:33:20+00:00","dateModified":"2019-07-03T17:26:36+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2019\/07\/rebgv-housing-supply-up-home-sales-prices-down-in-june\/"},"wordCount":461,"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\/2019\/07\/rebgv-housing-supply-up-home-sales-prices-down-in-june\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2019\/07\/rebgv-housing-supply-up-home-sales-prices-down-in-june\/","url":"https:\/\/www.roryc.ca\/blog\/2019\/07\/rebgv-housing-supply-up-home-sales-prices-down-in-june\/","name":"REBGV Housing Supply Up, Home Sales & Prices Down in June &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2019-07-03T16:33:20+00:00","dateModified":"2019-07-03T17:26:36+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2019\/07\/rebgv-housing-supply-up-home-sales-prices-down-in-june\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2019\/07\/rebgv-housing-supply-up-home-sales-prices-down-in-june\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2019\/07\/rebgv-housing-supply-up-home-sales-prices-down-in-june\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"REBGV Housing Supply Up, Home Sales &#038; Prices Down in June"}]},{"@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\/13091","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=13091"}],"version-history":[{"count":2,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/13091\/revisions"}],"predecessor-version":[{"id":13104,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/13091\/revisions\/13104"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=13091"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=13091"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=13091"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}