{"id":9369,"date":"2018-06-04T08:08:02","date_gmt":"2018-06-04T15:08:02","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=9369"},"modified":"2018-06-04T07:58:00","modified_gmt":"2018-06-04T14:58:00","slug":"rebgv-reduced-demand-is-allowing-housing-supply-to-accumulate","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/06\/rebgv-reduced-demand-is-allowing-housing-supply-to-accumulate\/","title":{"rendered":"REBGV Reduced Demand is Allowing Housing Supply to Accumulate"},"content":{"rendered":"<p style=\"text-align: justify;\">Home buyer demand continues to decline across the Metro Vancouver housing market.<\/p>\n<p style=\"text-align: justify;\">The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,833 in May 2018, a 35.1% decrease from the 4,364 sales recorded in May 2017, and a 9.8% increase compared to April 2018 when 2,579 homes sold.<\/p>\n<p style=\"text-align: justify;\">Last month\u2019s sales were 19.3% below the 10-year May sales average.<\/p>\n<p style=\"text-align: justify;\">\u201cWith fewer homes selling today compared to recent years, the number of homes available for sale is rising,\u201d Phil Moore, REBGV president said. \u201cThe selection of homes for sale in Metro Vancouver has risen to the highest levels we\u2019ve seen in the last two years, yet supply is still below our long-term historical averages.\u201d<\/p>\n<p style=\"text-align: justify;\">There were 6,375 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service\u00ae (MLS\u00ae) in Metro Vancouver in May 2018. This represents a 5.5% increase compared to the 6,044 homes listed in May 2017 and a 9.5% increase compared to April 2018 when 5,820 homes were listed.<\/p>\n<p style=\"text-align: justify;\">The total number of properties currently listed for sale on the MLS\u00ae system in Metro Vancouver is 11,292, a 38.2% increase compared to May 2017 (8,168) and a 15% increase compared to April 2018 (9,822).<\/p>\n<p style=\"text-align: justify;\">The total number of listings available today is 17.2% below the 10-year May average.<\/p>\n<p style=\"text-align: justify;\">For all property types, the sales-to-active listings ratio for May 2018 is 25.1%. By property type, the ratio is 14.7% for detached homes, 30.8% for townhomes, and 41.7% for condominiums.<\/p>\n<p style=\"text-align: justify;\">Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12% mark 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;\">\u201cFor home sellers to be successful in today\u2019s market, it\u2019s important to price your property competitively given the shifting dynamics we\u2019re experiencing,\u201d Moore said. \u201cIt\u2019s also important to work with your local Realtor to better understand these changing conditions.\u201d<\/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 $1,094,000. This is an 11.5% increase over May 2017 and a 0.2% increase compared to April 2018.<\/p>\n<p style=\"text-align: justify;\">Sales of detached properties in May 2018 reached 926, a 40.2% decrease from the 1,548 detached sales recorded in May 2017. The benchmark price for detached properties is $1,608,000. This is a 2.4% increase from May 2017 and a 0.1% increase compared to April 2018.<\/p>\n<p style=\"text-align: justify;\">Sales of apartment properties reached 1,431 in May 2018, a 29.3% decrease from the 2,025 sales in May 2017. The benchmark price of an apartment property is $701,700. This is a 20.2% increase from May 2017 and a 0.1% increase compared to April 2018.<\/p>\n<p style=\"text-align: justify;\">Attached property sales in May 2018 totalled 476, a 39.8% decrease from the 791 sales in May 2017. The benchmark price of an attached unit is $859,500. This represents a 16% increase from May 2017 and a 0.6% increase compared to April 2018.<\/p>\n<p><a href=\"https:\/\/www.rebgv.org\/sites\/default\/files\/REBGV-Stats-Pkg-May-2018.pdf\" target=\"_blank\" rel=\"noopener\">Click here<\/a> to view the full stats package.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Home buyer demand continues to decline across the Metro Vancouver housing market. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,833 &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/06\/rebgv-reduced-demand-is-allowing-housing-supply-to-accumulate\/\">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-9369","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 Reduced Demand is Allowing Housing Supply to Accumulate &#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\/2018\/06\/rebgv-reduced-demand-is-allowing-housing-supply-to-accumulate\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"REBGV Reduced Demand is Allowing Housing Supply to Accumulate &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Home buyer demand continues to decline across the Metro Vancouver housing market. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,833 &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\\\/2018\\\/06\\\/rebgv-reduced-demand-is-allowing-housing-supply-to-accumulate\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/06\\\/rebgv-reduced-demand-is-allowing-housing-supply-to-accumulate\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"REBGV Reduced Demand is Allowing Housing Supply to Accumulate\",\"datePublished\":\"2018-06-04T15:08:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/06\\\/rebgv-reduced-demand-is-allowing-housing-supply-to-accumulate\\\/\"},\"wordCount\":448,\"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\\\/2018\\\/06\\\/rebgv-reduced-demand-is-allowing-housing-supply-to-accumulate\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/06\\\/rebgv-reduced-demand-is-allowing-housing-supply-to-accumulate\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/06\\\/rebgv-reduced-demand-is-allowing-housing-supply-to-accumulate\\\/\",\"name\":\"REBGV Reduced Demand is Allowing Housing Supply to Accumulate &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2018-06-04T15:08:02+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/06\\\/rebgv-reduced-demand-is-allowing-housing-supply-to-accumulate\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/06\\\/rebgv-reduced-demand-is-allowing-housing-supply-to-accumulate\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/06\\\/rebgv-reduced-demand-is-allowing-housing-supply-to-accumulate\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"REBGV Reduced Demand is Allowing Housing Supply to Accumulate\"}]},{\"@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 Reduced Demand is Allowing Housing Supply to Accumulate &#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\/2018\/06\/rebgv-reduced-demand-is-allowing-housing-supply-to-accumulate\/","twitter_card":"summary_large_image","twitter_title":"REBGV Reduced Demand is Allowing Housing Supply to Accumulate &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"Home buyer demand continues to decline across the Metro Vancouver housing market. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,833 &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\/2018\/06\/rebgv-reduced-demand-is-allowing-housing-supply-to-accumulate\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/06\/rebgv-reduced-demand-is-allowing-housing-supply-to-accumulate\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"REBGV Reduced Demand is Allowing Housing Supply to Accumulate","datePublished":"2018-06-04T15:08:02+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/06\/rebgv-reduced-demand-is-allowing-housing-supply-to-accumulate\/"},"wordCount":448,"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\/2018\/06\/rebgv-reduced-demand-is-allowing-housing-supply-to-accumulate\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2018\/06\/rebgv-reduced-demand-is-allowing-housing-supply-to-accumulate\/","url":"https:\/\/www.roryc.ca\/blog\/2018\/06\/rebgv-reduced-demand-is-allowing-housing-supply-to-accumulate\/","name":"REBGV Reduced Demand is Allowing Housing Supply to Accumulate &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2018-06-04T15:08:02+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/06\/rebgv-reduced-demand-is-allowing-housing-supply-to-accumulate\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2018\/06\/rebgv-reduced-demand-is-allowing-housing-supply-to-accumulate\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2018\/06\/rebgv-reduced-demand-is-allowing-housing-supply-to-accumulate\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"REBGV Reduced Demand is Allowing Housing Supply to Accumulate"}]},{"@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\/9369","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=9369"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/9369\/revisions"}],"predecessor-version":[{"id":9370,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/9369\/revisions\/9370"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=9369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=9369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=9369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}