{"id":24040,"date":"2024-06-06T10:10:00","date_gmt":"2024-06-06T17:10:00","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=24040"},"modified":"2024-06-04T11:31:41","modified_gmt":"2024-06-04T18:31:41","slug":"number-of-new-listings-outpaces-the-home-sales-in-metro-vancouver","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2024\/06\/number-of-new-listings-outpaces-the-home-sales-in-metro-vancouver\/","title":{"rendered":"Number of New Listings Outpaces The Home Sales in Metro Vancouver"},"content":{"rendered":"<p style=\"text-align: justify;\">VANCOUVER \u2014 Greater Vancouver&#8217;s real estate board says the number of homes that changed hands in May fell 19.9% from the previous year as more new properties continued to hit the market.<\/p>\n<p style=\"text-align: justify;\">Greater Vancouver Realtors said Tuesday there were 2,733 home sales in the region last month, down from 3,411 sales recorded in May 2023 and 19.6% below the 10-year seasonal average for May.<\/p>\n<p style=\"text-align: justify;\">That came as the number of Metro Vancouver homes listed for sale rose 46.3% year-over-year to 13,600, which is nearly one-fifth higher than the 10-year seasonal average. In May, there were 6,374 detached, attached and apartment properties newly available \u2014 a 12.6% increase compared with May 2023.<\/p>\n<p style=\"text-align: justify;\">Andrew Lis, the board&#8217;s director of economics and data analytics, called it a &#8220;surprise&#8221; that May sales came in softer than usual.<\/p>\n<p style=\"text-align: justify;\">&#8220;It\u2019s a natural inclination to chalk these trends up to one factor or another, but what we\u2019re seeing is a culmination of factors influencing buyer and seller decisions in the market right now,&#8221; he said in a press release.<\/p>\n<p style=\"text-align: justify;\">&#8220;It\u2019s everything from higher borrowing costs, to worries about the economy, to policy interventions imposed by various levels of government.&#8221;<\/p>\n<p style=\"text-align: justify;\">The latest data comes a day before the Bank of Canada is set to announce its latest policy interest rate decision. With some economists forecasting a rate cut, it could spur more potential homebuyers currently waiting on the sidelines to enter the market.<\/p>\n<p style=\"text-align: justify;\">The composite benchmark home price was $1,212,000, up 2.3% from a year ago and a 0.5% increase from April, the real estate board reported.<\/p>\n<p style=\"text-align: justify;\">&#8220;With market trends now tilting back toward more balanced conditions, as the number of new listings outpaces the number of sales, we should expect to see slower price growth over the coming months,&#8221; Lis said.<\/p>\n<p style=\"text-align: justify;\">\u201cUp until recently, prices were climbing modestly across all market segments. But with rising inventory levels and softening demand, buyers who\u2019ve been waiting for an opportunity might have more luck this summer, even if borrowing costs remain elevated.\u201d<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.biv.com\/news\/vancouver-home-sales-fall-nearly-20-per-cent-in-may-as-inventory-continues-to-climb-8975521\" target=\"_blank\" rel=\"noopener\">Vancouver Home Sales Fall Nearly 20% in May as Inventory Continues to Climb<\/a> by The Canadian Press | BIV<\/p>\n","protected":false},"excerpt":{"rendered":"<p>VANCOUVER \u2014 Greater Vancouver&#8217;s real estate board says the number of homes that changed hands in May fell 19.9% from the previous year as more new properties continued to hit &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2024\/06\/number-of-new-listings-outpaces-the-home-sales-in-metro-vancouver\/\">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":[8,13],"tags":[],"class_list":["post-24040","post","type-post","status-publish","format-standard","hentry","category-market-updates","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Number of New Listings Outpaces The Home Sales in Metro Vancouver &#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\/2024\/06\/number-of-new-listings-outpaces-the-home-sales-in-metro-vancouver\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Number of New Listings Outpaces The Home Sales in Metro Vancouver &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"VANCOUVER \u2014 Greater Vancouver&#8217;s real estate board says the number of homes that changed hands in May fell 19.9% from the previous year as more new properties continued to hit &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\\\/2024\\\/06\\\/number-of-new-listings-outpaces-the-home-sales-in-metro-vancouver\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2024\\\/06\\\/number-of-new-listings-outpaces-the-home-sales-in-metro-vancouver\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Number of New Listings Outpaces The Home Sales in Metro Vancouver\",\"datePublished\":\"2024-06-06T17:10:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2024\\\/06\\\/number-of-new-listings-outpaces-the-home-sales-in-metro-vancouver\\\/\"},\"wordCount\":351,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Market Updates\",\"Real Estate\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2024\\\/06\\\/number-of-new-listings-outpaces-the-home-sales-in-metro-vancouver\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2024\\\/06\\\/number-of-new-listings-outpaces-the-home-sales-in-metro-vancouver\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2024\\\/06\\\/number-of-new-listings-outpaces-the-home-sales-in-metro-vancouver\\\/\",\"name\":\"Number of New Listings Outpaces The Home Sales in Metro Vancouver &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2024-06-06T17:10:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2024\\\/06\\\/number-of-new-listings-outpaces-the-home-sales-in-metro-vancouver\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2024\\\/06\\\/number-of-new-listings-outpaces-the-home-sales-in-metro-vancouver\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2024\\\/06\\\/number-of-new-listings-outpaces-the-home-sales-in-metro-vancouver\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Number of New Listings Outpaces The Home Sales in Metro Vancouver\"}]},{\"@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":"Number of New Listings Outpaces The Home Sales in Metro Vancouver &#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\/2024\/06\/number-of-new-listings-outpaces-the-home-sales-in-metro-vancouver\/","twitter_card":"summary_large_image","twitter_title":"Number of New Listings Outpaces The Home Sales in Metro Vancouver &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"VANCOUVER \u2014 Greater Vancouver&#8217;s real estate board says the number of homes that changed hands in May fell 19.9% from the previous year as more new properties continued to hit &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\/2024\/06\/number-of-new-listings-outpaces-the-home-sales-in-metro-vancouver\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2024\/06\/number-of-new-listings-outpaces-the-home-sales-in-metro-vancouver\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"Number of New Listings Outpaces The Home Sales in Metro Vancouver","datePublished":"2024-06-06T17:10:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2024\/06\/number-of-new-listings-outpaces-the-home-sales-in-metro-vancouver\/"},"wordCount":351,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"articleSection":["Market Updates","Real Estate"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2024\/06\/number-of-new-listings-outpaces-the-home-sales-in-metro-vancouver\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2024\/06\/number-of-new-listings-outpaces-the-home-sales-in-metro-vancouver\/","url":"https:\/\/www.roryc.ca\/blog\/2024\/06\/number-of-new-listings-outpaces-the-home-sales-in-metro-vancouver\/","name":"Number of New Listings Outpaces The Home Sales in Metro Vancouver &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2024-06-06T17:10:00+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2024\/06\/number-of-new-listings-outpaces-the-home-sales-in-metro-vancouver\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2024\/06\/number-of-new-listings-outpaces-the-home-sales-in-metro-vancouver\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2024\/06\/number-of-new-listings-outpaces-the-home-sales-in-metro-vancouver\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"Number of New Listings Outpaces The Home Sales in Metro Vancouver"}]},{"@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\/24040","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=24040"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/24040\/revisions"}],"predecessor-version":[{"id":24041,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/24040\/revisions\/24041"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=24040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=24040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=24040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}