Vancouver-area home sales drop almost 5% in August amid lag: board
Greater Vancouver Realtors says there were 1,869 home sales last month, which was 20.7 per cent below the 10-year seasonal average.
Vancouver-area home sales dipped almost 5% in August, according to the Greater Vancouver Realtors board, as the market continues to lag since May. The number of sales fell 20.7% compared to the 10-year seasonal average, with only 1,869 properties changing hands last month. Andrew Lis, chief economist and vice-president of data analytics at the board, attributes the decline to a drop in inventory levels, which have fallen from their 2025 peak.
Combined with slower-than-expected sales, this has led to a downward trend in prices across all market segments. The average price for residential properties in Vancouver dropped 5.6% in August, marking a 0.6% decrease from the previous month. There were 4,100 new listings last month, a 3% decrease year-over-year and a 1.3% decline from the 10-year average. Total inventory shrank 2.7% year-over-year to 15,798 homes, 26.2% above the long-term average.
Written by urgent.news from Global News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Auto sales see third consecutive month of gains in August: DesRosiers winnipegfreepress.com
- Buraidah International Dates Carnival sales top SAR 600 million in August english.ajel.sa
- South African new vehicle sales for August: These were the top 15 manufacturers iol.co.za
- Vancouver-area home sales drop almost 5% in August amid lag: board globalnews.ca
