Metro Vancouver residential sales took an unexpected leap in July, making the month the second-strongest month for resale activity so far this year and defying the usual summer lull.<\/p>\n
There were total 2,547 home sales across the region last month, according to the Real Estate Board of Greater Vancouver, which is a 23.5% increase over the same month last year. It\u2019s also a 23.1% over June 2019\u2019s transactions.<\/p>\n
July\u2019s sales were still 7.8% below the 10-year July sales average. But that\u2019s a notable improvement from previous recent months, some of which saw activity slumping more than 40% below the 10-year average.<\/p>\n
\u201cWhile home sale activity remains below long-term averages, we saw an increase in sales in July compared to the less active spring we experienced,\u201d said Ashley Smith, REBGV president. \u201cThose looking to buy today continue to benefit from low interest rates, increased selection, and reduced prices compared to the heated market a few years ago.\u201d<\/p>\n\n\n