VREP #433 | Are House Prices Dropping in Vancouver Fall 2024? With Andrew Lis

The most recent Greater Vancouver Realtors Housing Market Report paints a surprisingly grim picture of the Vancouver real estate market. New listings are up 20% year over year and transactions are down 17.6% below the 10 year average. And this is with two Bank of Canada rate cuts! What is going on? And, more importantly, what does this mean for the upcoming fall market and for housing prices in Metro Vancouver?The Real Estate Board of Greater Vancouver’s Director of Economics & Data Analytics Andrew Lis sits down with Adam & Matt this week to discuss the unpredictable first half of the year & what the future holds.Why have we seen such a significant inventory spike? What does this mean for fall housing prices? And what will it take to get sales volume trending in the right direction? Listen up!