Prices Continue Rising Across GVA as Home Buyer Confidence Returns

Home sales in Metro Vancouver have made a surprising comeback, rising near levels seen in spring 2022.
Home prices ↑ ~5% yearly, surpassing the forecast of 1-2% price growth by year-end.
For April 2023, the sales-to-active listings ratio is 32.7%, with detached homes at 24.4%, townhomes at 40.1%, and apartments at 37.4%.
In a competitive market, home prices tend to rise when the sales-to-active listings ratio exceeds 20% over several months.
The issue of low supply relative to the pool of active buyers continues to impact the market, leading to price escalation.
Sales of detached homes, apartment homes, and attached homes all ↓ yearly, but prices ↑ MoM.

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