Vancouver Real Estate Prices Are Falling

The sales data from the first 2 weeks of May shows that real estate prices have begun falling.   The Median price is off 6% already this month and every indicator is pointing towards a further decrease in price.  Inventory is increasing, sales are slowing, new listings are high and the sales to active listings ratio is down 22% from just 2 months ago.  Now, be careful to understand that this does not mean ALL property prices are decreasing, there is still tremendous activity and price growth for many sub $800k properties - but this is the beginning of the downward cycle in the market, putting an end to a 20 month bull-run that saw average home prices increase over $168,000.   _________________________________ Contact Us To Book Your Private Consultation:📆 https://calendly.com/thevancouverlifeDan Wurtele, PREC, [email protected] Dash PREC778.898.0089 [email protected] www.thevancouverlife.com