{"id":22269,"date":"2023-07-25T10:10:00","date_gmt":"2023-07-25T17:10:00","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=22269"},"modified":"2023-07-05T10:59:45","modified_gmt":"2023-07-05T17:59:45","slug":"metro-vancouver-composite-benchmark-sat-at-more-than-1-2m-up-1-3-m-m","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2023\/07\/metro-vancouver-composite-benchmark-sat-at-more-than-1-2m-up-1-3-m-m\/","title":{"rendered":"Metro Vancouver Composite Benchmark Sat at More Than $1.2M, Up 1.3% M\/M"},"content":{"rendered":"<p style=\"text-align: justify;\">The Real Estate Board of Greater Vancouver says last month&#8217;s home prices ticked up from May as prospective homebuyers faced a dearth of supply in the region.<\/p>\n<p style=\"text-align: justify;\">The board says the composite benchmark sat at more than $1.2 million last month, down 2.4% from June 2022 but up 1.3% from May.<\/p>\n<p style=\"text-align: justify;\">Sales in the market totalled 2,988 last month, a 21.1% increase from a year ago.<\/p>\n<p style=\"text-align: justify;\">The board says the sales were 8.6% below the 10-year seasonal average of 3,269.<\/p>\n<p style=\"text-align: justify;\">New listings hit 5,348 last month compared with 5,278 in June 2022.<\/p>\n<p style=\"text-align: justify;\">The board&#8217;s director of economics and data analytics says the market is surpassing expectations, particularly in the apartment segment, but supply remains an issue.<\/p>\n<p style=\"text-align: justify;\">\u201cDespite elevated borrowing costs, there continues to be too little resale inventory available relative to the pool of buyers in Metro Vancouver,&#8221; Andrew Lis says in a news release.<\/p>\n<p style=\"text-align: justify;\">&#8220;This is the fundamental reason we continue to see prices increase month-over-month across all segments.&#8221;<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/biv.com\/article\/2023\/07\/vancouver-home-prices-ticking-supply-remains-under-pressure-real-estate-board\" target=\"_blank\" rel=\"noopener\">Real Estate Board : Vancouver Home Prices Ticking Up as Supply Remains Under Pressure<\/a> by The Canadian Press | BIV<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Real Estate Board of Greater Vancouver says last month&#8217;s home prices ticked up from May as prospective homebuyers faced a dearth of supply in the region. The board says &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2023\/07\/metro-vancouver-composite-benchmark-sat-at-more-than-1-2m-up-1-3-m-m\/\">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-22269","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Metro Vancouver Composite Benchmark Sat at More Than $1.2M, Up 1.3% M\/M &#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\/2023\/07\/metro-vancouver-composite-benchmark-sat-at-more-than-1-2m-up-1-3-m-m\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Metro Vancouver Composite Benchmark Sat at More Than $1.2M, Up 1.3% M\/M &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"The Real Estate Board of Greater Vancouver says last month&#8217;s home prices ticked up from May as prospective homebuyers faced a dearth of supply in the region. 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