Week 17 – Weekly Vancouver Real Estate Update
Sales eased in the last week. Falling from 328 to 317. This was the 3rd week out of the last 5 that sales have fallen since hitting an all-time record (373) in Week 13.
New listings backed off a little from their peak of 599 in the previous week to 562 this past week. The result is that overall active listings rose to 3,485 (a high for 2021)…and months-of-inventory edged higher to 2.75 (from 2.55).
It’s clear that the overall market is seeing some easing off of the intensity that was present throughout the record-setting month of March. There are no signs of a correction at this point…it’s simply a normal shift in the market.
Make no mistake, the market remains (overall) a very strong seller’s market. We are seeing natural ebbs and flows from week to week when we look at each micro-market…but it’s the overall market direction that’s most important.
The hottest market in the last week was...