{"id":8529,"date":"2019-10-08T07:00:02","date_gmt":"2019-10-08T07:00:02","guid":{"rendered":"https:\/\/www.canadianrealestatemagazine.ca\/vancouver-housing-market-easing-towards-more-balanced-conditions\/"},"modified":"2023-10-24T04:09:26","modified_gmt":"2023-10-24T04:09:26","slug":"vancouver-housing-market-easing-towards-more-balanced-conditions","status":"publish","type":"post","link":"https:\/\/www.canadianrealestatemagazine.ca\/news\/vancouver-housing-market-easing-towards-more-balanced-conditions\/","title":{"rendered":"Vancouver housing market easing towards more balanced conditions"},"content":{"rendered":"<p>With much-boosted supply offsetting intensified demand, Vancouver\u2019s housing market is steadily moving towards better balance, according to the Real Estate Board of Greater Vancouver.<\/p>\n<p>A total of 4,866 homes were newly listed in September, amounting to a 29.9% increase compared to August, and a 7.8% year-over-year drop.<\/p>\n<p>Sales transactions swelled by 46.3% annually last month, with a total of 2,333 homes sold. This was just 1.7% lower than the 10-year average for September, and a massive increase from the 1,595 deals closed during the same time last year.<\/p>\n<p>At the same time, overall prices veered lower. The composite benchmark price across all housing types in Metro Vancouver declined by 7.3% annually and 0.3% monthly in September (to $990,600).<\/p>\n<p><a class=\"wpil_keyword_link\" href=\"https:\/\/www.canadianrealestatemagazine.ca\/news\/young-canadians-still-prefer-singledetached-homes-over-condos\/\"   title=\"Single detached\" data-wpil-keyword-link=\"linked\">Single detached<\/a> homes saw their benchmark price drop by 8.6% year-over-year, while condos had a 6.5% decrease. Attached home prices went down 7.2%.<\/p>\n<p>Over the past few months, Vancouver prices have experienced decreases, while much of Canada has gone up.<\/p>\n<p>The Teranet \u2013 National Bank of Canada House Price Index released last month showed that Vancouver\u2019s average housing price (across all asset classes) fell by 6.63% year-over-year in August, bringing composite prices down by 6.96% from the peak seen in July 2018.<\/p>\n<p>\u201cThe city\u2019s index has shown negative growth every month this year,\u201d <em>Better Dwelling<\/em> stated in its analysis of the data \u2013 an observation that has been echoed in a CREA study.<\/p>\n<p>\u201cIn recent months, home prices have generally been stabilizing in British Columbia and the Prairies, a measure which had been falling until recently,\u201d the CREA noted recently.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With much-boosted supply offsetting intensified demand, Vancouver\u2019s housing market is steadily moving towards better balance, according to the Real Estate Board of Greater Vancouver. A total of 4,866 homes were newly listed in September, amounting to a 29.9% increase compared to August, and a 7.8% year-over-year drop. Sales transactions swelled by 46.3% annually last month, [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":22227,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/8529"}],"collection":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/comments?post=8529"}],"version-history":[{"count":2,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/8529\/revisions"}],"predecessor-version":[{"id":22226,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/8529\/revisions\/22226"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/media\/22227"}],"wp:attachment":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/media?parent=8529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/categories?post=8529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/tags?post=8529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}