Vancouver Real Estate – Monthly Market Update – Infographic – April 2022

The primary headline for the last month in Vancouver real estate is that demand returned to more historically "normal" levels.

Sales dropped to 971 from 1,298 the previous month. That's a -25.2% decline month-to-month and also a -26.4% decline from a year ago...all of which was +5.3% over the 10-year average of 922.

New listings also fell to 1,942 from 2,118. That's -8.3% from the previous month and -23.9% from a year ago. It was also -11.2% below the 10 year average.

Total active listings rose to 3,260 from 3,064. That was an increase of +6.4% from the previous month but -15.8% from a year ago. Compared to the 10 year average it was a decline of -6.2%.

We usually see demand increasing through the spring...so seeing it drop from March to April is a bit unusual. But...we all knew this moment would come. Especially given significant global economic uncertainty as well as a slew of government interventions.

Honestly, it's been a pleasant change so far...especially for potential home buyers....

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