Metro Vancouver housing market characterized by modest home sale and price increases in 2013

The Greater Vancouver housing market maintained a consistent balance between demand and supply throughout 2013.  The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of homes in 2013 reached 28,524, a 14 per cent increase from the 25,032 sales recorded in 2012, and an 11.9 per cent decrease from the 32,390 residential sales in 2011.

“Home sales quietly improved last year compared to 2012, although the volume of activity didn’t compare to some of the record-breaking years we experienced over the last decade,” Sandra Wyant, REBGV president said.  

“It was a year of stability for the Greater Vancouver housing market,” Wyant, said. “Balanced conditions allowed home prices in the region to remain steady, with just a modest increase over
the last 12 months.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $603,400. This represents a 2.1 per cent increase compared to December 2012...

 
For the complete December Sales Stats click here : REBGVStats_2013_12.pdf.

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