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Slow housing market: REBGV

Darpan News Desk The Canadian Press, 05 Sep, 2023 01:45 PM

Vancouver's housing market is on track to see slowing sales and price stabilization.

The Real Estate Board of Greater Vancouver says that's because of higher borrowing costs combined with seasonal patterns.

The board's outlook is being informed by August sales of about 22-hundred units -- 13.8 per cent below the 10-year seasonal average.

It comes as a new report from Re/Max Canada predicts the country's real estate market will be softer this fall, with average home prices expected to remain flat

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