Royal Lepage Q2 2022 House Price Update and Market Forcast. Increased supply and slowing sales push Greater Vancouver toward balanced market for the first time in more than two years. Some of the heat that was driving the market cooled during the quarter as rising interest rates coupled with economic uncertainty undermined consumer confidence and pushed buyers to the sidelines,” said Phil Soper, president and CEO of Royal LePage. “We have significantly reduced our outlook for 2022, however home prices are still forecast to end the year higher than 2021 and well above pre-pandemic norms.

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Read the full FVREB Stats package. Real Estate sales decreased for the third consecutive month in June. Inventory levels were 4.7% higher in June than in May. With the 5yr fixed interest rate at its highest level in over a decade and more to come this month we may see further slowing of sales and prices in the months ahead. Overall, it's a balanced market for detached homes and a sellers market for townhomes and apartments, presenting a great opportunity for those that can qualify that want to upsize to a detached home. If you're considering a move contact me. https://buff.ly/3maW2Ff