REBGV Economist Keith Stewart assesses Metro Vancouver's housing market activity over the first quarter of 2022 so far.

VANCOUVER, BC, CANADA, March 3, 2022 /EINPresswire.com/ -- REBGV Economist Keith Stewart assesses Metro Vancouver's housing market activity over the first quarter of 2022, so far, and projects what home sale, listing, and price activity expected in the region throughout the year.

Here are the highlights:

- Prices have continued to rise in the first quarter.
- Listings remain stubbornly scarce in the early part of 2022, but inventory won't build until sales begin to fall.
- Sales are expected to fall from 2021 levels because of deteriorating affordability.
- Prices are expected to rise overall in 2022, but price growth will slow in the second half of the year.
- Mortgage rates are expected to rise, and the stress-test rate is expected to remain flat in 2022.

Read this comprehensive report today!

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*Editor’s Note:

Areas covered by the Real Estate Board of Greater Vancouver include: Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.

The real estate industry is a key economic driver in British Columbia. In 2021, 43,999 homes changed ownership in the Board’s area, generating $2.98 billion in economic spin-off activity and an estimated 20,942 jobs. The total dollar value of residential sales transacted through the MLS^® system in Greater Vancouver totalled $53.4 billion in 2021.

The Real Estate Board of Greater Vancouver is an association representing more than 14,000 REALTORS^® and their companies. The Board provides a variety of member services, including the Multiple Listing Service^®. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR^® or visit www.rebgv.org.

Craig Munn
Real Estate Board of Greater Vancouver
+16047839695 ext.
cmunn@rebgv.org