In October 2024, Metro Vancouver's housing market experienced a significant turnaround, with home sales rising over 30% year-over-year after months of subdued activity. According to the Greater Vancouver REALTORS® (GVR), 2,632 residential sales were recorded, reflecting a robust 31.9% increase from the previous October, although still falling short of the ten-year seasonal average. This surge is attributed to the impact of recent mortgage rate cuts, which seem to have prompted buyers to re-enter the market after a period of hesitation. With a notable uptick in new listings and an overall increase in available properties, the market is showing signs of renewed strength, particularly in the attached and apartment segments, hinting at a potential shift from a buyer’s to a seller’s market. To read the full Greater Vancouver Realtor' MEMBER UPDATE and download the report, click below.
Housing Market Report
GVR October 2024 MLS®
Blog by Frank Ingham | November 4th, 2024
