May 2018 Real Estate Market Update
The May market trends is indicating that we are shifting in to a more balanced market. The tightening of mortgage rules and an increase in the supply is mainly the reason for this shift in the market. .
Being in balance or buyer’s market create a great opportunity for people who are interested interested to negotiate a better price.View Full Report
Let’s take a look at the overall residential activities in Greater Vancouver in May 2018:
- 6,375 new listings were added this month, which is a 10% increase compared to last month, and a 6% increase from last May.
- 2,833 properties were sold this month, which is a 10% increase compared to April, and a 35% decrease from last year.
- The ratio in May was 25%, a 1% decrease compared to April, and a 28% decrease from last year..